India's PFRDA expands pension agents and extends NPS same‑day investment cut‑off

The Pension Fund Regulatory and Development Authority (PFRDA) issued a circular allowing Points of Presence (PoPs) under the National Pension System (NPS) to engage additional categories of entities as pension agents. Eligible agents now include Cluster‑Based Business Organisations (such as those empanelled by central or state ministries, NABARD, NAFED, NCDC, etc.) and registered co‑operative societies, unions or federations, subject to enhanced due‑diligence checks.

In a separate circular, PFRDA extended the cut‑off time for same‑day investment of NPS contributions by the Trustee Bank from 11:00 AM to 1:30 PM on business‑settlement days. The change applies to all contribution channels—including PoPs, eNPS, UPI, BBPS and others—and contributions received by the new deadline will be matched, booked and allotted units based on the day’s closing Net Asset Value.