Dtd. 05.03.2022 - Operational Guidelines For Enrolment and Servicing of APY Subscribers-CHO - GB - 19 - 2021-22
Dtd. 05.03.2022 - Operational Guidelines For Enrolment and Servicing of APY Subscribers-CHO - GB - 19 - 2021-22
UU CRN
/2021-22
jT*|—v, Government Business UCO BANK
Cell HONOURS YOUR Circular No.
. .. .
Pension Fund Regulatory and Development Authority vide their Circular no.
PFRDA/2021/31/SUP-POP/5 dated 23/12/2021 issued operational guidelines for
carrying out operation activities by point of presence. These guidelines shall be
effective from April 2022 and to be odtiered by all Branches/Offices.
Our bank is registered as POP-SPs under regulation 3(1) (v) of Pension Fund
Regulatory and Development Authority [Point of Presence) Regulations, 2018.
A. Service Standards
Branches (PoP-APY) to follow the 'Service Standards' as prescribed for providing
services related to registration of subscribers undertaking. Know Your Customer
(KYC) verification process, debiting contributions from savings bank account of
(i) The terms and conditions of operations between bank and facititator(s) shall
be mutually agreed upon and shall be in accordance with Pension Fund
Regulatory and Development Authority (Points of Presence) Regulations,
2018 and subsequent amendments thereof.
(ii) Bonk to ensure flow of information from facilitators to bank in such a way
that all Turn Around Times (TATs) as prescribed under service level standards
are adhered to, without any delay or deviation.
(iii) Bank to ensure that the facilitators contact or communicate only with it on
all matters and any direct communications with PFRDA shall not be
entertained.
(Iv) Bank to compile and submit the prescribed MIS reports to PFRDA on behalf
of all its associated facilitators. Facilitators shall not directly submit any MIS
report / information to PFRDA.
(v) Bank to place necessary checks and balances in its system in order to
ensure non-opening of multiple APY accounts for the same subscriber.
(vi) Bank to display Atal Pension Yojana (APY)- Subscriber Information Brochure
on its website and/or at branches, as the case may be.
(vii) Bank to make available all APY related forms, as prescribed by PFRDA from
time to time, on its website and/or at branches, as the case may be.
1. Subscribers Registration:
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a) APY Contribution Collection process (will be made available centrally for the
branches.):
(i) Opening of Collection Account: Collection account is opened In the name &
style UCO Bank - APY Subscription Fee Payable - NPS Trust" account no-
01901030080074 tor collection of APY subscription.
(ii) This account is a non withdrawal account, only having an option to transfer
the funds to NPS Trust account. In exceptional cases such as wrong entries,
unidentified entries or amount not pertaining to Subscriber's contribution, it
may be credited to any other account, with prior approval of Govt. Business
Department. Authority for such permission would be Chief Manager and
above. The account will be subject to audit by PFRDA or its authorised
representative.
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Head Office, Government Business Ceil. 10 BTM SaranI, Kolkata 700001,
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c) Collection and processing of subsequent contributions (activity will be
carried out centrally by the bank)
(i) Bank shall run the debit cycle once for all APY subscribers within first ten
calendar days of the month / quarter / half year, as the case may be.
(ii) Post completion of first debit cycle, Bank shall continue to raise demand on
all working days till the collection of contribution from the savings bank
account of all such subscribers.
(iii) Periodic contribution as per the frequency opted by subscribers shall be
debited on FIFO basis i.e.- due instalment shall be recovered first along with
the fixed amount of overdue charges as applicable from time to time.
(iv) Overdue charges shall become payable by the subscriber, if the contribution
could not be collected from the savings Bank account of the subscriber in
the first month, notwithstanding the fact that the chosen frequency of
remittdnce is quarterly or half yearly.
(i) Bank shall prepare and upload SCF into CRA system.
(ii) The transaction id thus generated shall be entered by the Bank in the
NEFT/RTGS window while remitting the contributions to Trustee Bank.
(iii) Turn Around Time for uploading contribution is maximum T+2, where T is the
date of deduction of subscriber's contribution from savings bank account
(iii) Bank shall submit the request of waiver of overdue interest (GDI) for
exceptional circumstances in accordance to Circular no PFRDA/4/62
dated 5th April 2018 and Circular no PFRDA/03/05/l/0074//2017-PnD-
APY-Part(5) dated 30th July 2021, and the instructions issued by the
Authority from time to time.
D. Risk mitigating measures:
(ii) Bank/ Branches to ensure necessary vigil and due diligence of the
registration of subscribers and the entire fund collection process.
(iii) The compliance officer of the bank to regularly review internally, the
compliance of the Act, rules and regulations, notifications, circulars,
guidelines, directions, advisories etc. issued by the PFRDA/GOl from time
to time, on at least quarterly basis or more frequently, if required, and
record of the same shall be maintained. Any deviations in this regard
shall be unconditionally reported to PFRDA.
E. Reports and Disclosures (Action by Compliance Officer):
(i) Bank to submit the scanned / digitally signed copy of the following
reports to PFRDA at [email protected] from the e-mail id of the
Compliance Officer:
UCo
F. Redressal of Grievances;
(ii) Bank to monitor grievances lodged in CGMS portal on daily basis and it
shall ensure that those grievances are resolved on immediate basis.
(iii) Bonk shall be responsible for receiving grievances from the subscribers
and other intermediaries, uploading of grievances into CGMS portal of
CRA, if they are not received through CGMS, and verification and
redressal of grievances expeditiously.
(iv) Bank to ensure that on effective mechanism to receive and redress
complaints from the subscribers is in place and the grievances are
examined and redressed in a prompt and fair manner.
(v) Bank/branches shall lodge its grievance or complaint, if any, against
any intermediary such as CRA or Trustee Bank, in CGMS portal.
G. Exit processing:
(i) All the exit cases shall be processed by Branches as per guidelines
issued by PFRDA/GOl from time to time.
(ii) Bank/branches to check the status of the bank account of the
subscriber linked to the APY account before processing the exit cases
and shall not process the exit without ensuring that active savings bank
account is available for crediting the closure proceeds.
(iv) Bank to ensure proper credit of the final withdrawal proceeds in savingi
bank account of the subscriber, to his satisfaction.
a. Voluntary exit:
> Bank/Branches to upload and process the exit requests as per the SOP
(Standard Operating Procedure) provided by CRAs at their portal.
H. Other Functions:
Turn Around Time for delivery of Services and Compensation payable by Bank in
case of delay;
r.xr?T?^/ S.S.Chahande)
3*T »T?TO^ti^/Deputy General Manager
t^/Gov\. Business Cell uc
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End: As stated above.
rv
CIRCULAR
CIR No.: PFRDA/2021/31/SUP-POP/5 23 December 2021
To,
All Points of Presence (PoPs-APY)
All entities are advised to update their system and streamline the processes to follow the
operational guidelines issued by the Authority.
Yours faithfully,
-sd-
(Sumeet Kaur Kapoor)
Chief General Manager
[email protected]
GUIDELINES FOR THE POINTS OF PRESENCE REGISTERED UNDER
REGULATION 3(1)(v) OF PENSION FUND REGULATORY AND DEVELOPMENT
AUTHORITY (POINT OF PRESENCE) REGULATIONS, 2018 AND AMENDMENTS
THEREOF.
In exercise of the powers conferred under Section 52 of Pension Fund Regulatory and
Development Authority Act, 2013 read with Chapter VII of Pension Fund Regulatory and
Development Authority (Points of Presence) Regulations, 2018 and amendments thereof,
(hereinafter referred as “PoP Regulations”) following guidelines are being issued for
compliance by all Points of Presence registered under Regulation 3 (1) (v) of PoP Regulations
(hereinafter referred to as ‘PoP-APY’). Each PoP-APY shall adhere to the following guidelines
stricto senso in all its operational activities with respect to APY. The guidelines may be
modified by PFRDA from time to time depending upon the service requirements. These
guidelines shall be effective from 1st April 2022.
A. Service Standards
[1] PoP-APY shall follow the ‘Service Standards’ as prescribed under Schedule I of these
guidelines for providing services related to registration of subscribers, undertaking Know
Your Customer (KYC) verification process, debiting contributions from savings bank
accounts of subscribers and receiving subsequent requests from subscribers and
transmission of the same to the designated intermediaries, wherever applicable.
[2] PoP-APY shall deduct the contributions from the Savings Bank accounts of subscribers
enrolled under Atal Pension Yojana (hereinafter referred to as ‘APY’) in accordance with
Schedule I.
[3] PoP-APY shall provide subsequent services such as upgradation and down-gradation of
pension amount, shifting of PoP-APY, change in personal details of subscribers, processing
of death claims, voluntary exit requests or any other requests introduced by the Authority,
in accordance with Schedule I.
[4] PoP-APY shall be liable to compensate the affected subscribers in the event of any delay
or violation on part of the PoP-APY in performing the Service Standards, as prescribed
under Schedule I on receipt of claim from the subscribers. Besides the delay in TATs as
specified in Schedule I, in case of any loss suffered by a subscriber due to any other
operational lapse by PoP-APY like wrong inputting of DOB and pension amount etc, PoP-
APY shall unconditionally make good the loss, on claim filed by the subscriber.
[5] PoP-APY shall resolve the grievances of the subscribers in accordance with Pension
Fund Regulatory and Development Authority (Redressal of Subscriber Grievance)
Regulations, 2015 and any amendments thereof.
[6] In accordance with PFRDA (PoP) Regulations, 2018 and amendments thereof, PoP-APY
may engage the services of other service providers or banking correspondents, for
facilitating the distribution of pension schemes as facilitators and shall ensure the following
while associating with any facilitators:
Page | 1
(i). The terms and conditions of operations between PoP-APY and facilitator(s) shall be
mutually agreed upon and shall be in accordance with Pension Fund Regulatory and
Development Authority (Points of Presence) Regulations, 2018 and subsequent
amendments thereof.
(ii). PoP-APY shall ensure flow of information from facilitators to PoP-APY in such a
way that all Turn Around Times (TATs) as prescribed under service level standards in
Schedule I are adhered to, without any delay or deviation.
(iii). PoP-APY shall ensure that the facilitators contact or communicate only with it on
all matters and any direct communications with PFRDA shall not be entertained.
(iv). PoP-APY shall compile and submit the prescribed MIS reports to PFRDA on behalf
of all its associated facilitators. Facilitators shall not directly submit any MIS report /
information to PFRDA.
[7] PoP-APY shall have the necessary checks and balances in its system in order to ensure
non-opening of multiple APY accounts for the same subscriber.
[8] PoP-APY shall display Atal Pension Yojana (APY) – Subscriber Information
Brochure on its website and/or at branches, as the case may be.
[9] PoP-APY shall make available all APY related forms, as prescribed by PFRDA from
time to time, on its website and/or at branches, as the case may be.
[10] PoP-APY shall adhere to the regulations, circulars, guidelines, directions, advisories or
any other instructions issued by PFRDA from time to time. Further, PoP-APY shall adhere
to any notification issued by Government of India on APY, including GOI notification dated
16th October 2015, and notification dated 11th May 2017, and same shall be disseminated by
PFRDA.
B. Standard Operating Procedures
PoP-APY shall adhere to the Standard Operating Procedures (SOPs) prescribed by the Central
Recordkeeping Agency (CRA) and / or PFRDA for operational activities with respect to APY.
C. Contribution Management Procedure
PoP-APY shall comply with the following procedures and parameters to ensure transparency,
uniformity and risk minimization:
[1] APY contribution collection process
(i). PoP-APY shall ensure that credible collection infrastructure is available for
its underlying subscribers.
(ii). PoP-APY shall open or have a collection account in the name of “Name of the PoP
or its abbreviation –Collection Account – Name of pension scheme or its abbreviation –
National Pension System Trust or its abbreviation” and such an account shall be a non-
withdrawable account, only with an option to transfer the funds to NPS Trust account. In
exceptional cases such as wrong entries, unidentified entries or amount not pertaining to
Page | 2
subscriber contribution, it may be credited to any other account as may be specified by
the Authority through guidelines/circulars. PoP-APY is required to record reasons for
such transfers in writing. The authority to transfer the amount from collection account
shall reside with the PoP, which shall be subject to audit by PFRDA or through its
authorized representative.
(iii). PoP-APY may have a collection account with itself if it is a banking entity or with
any bank, if it is a non-banking entity.
(iv). PoP-APY shall ensure issuance of acknowledgement slip / receipt with unique
number (preferably electronic receipt) to the subscribers at the time of registration. PoP-
APY shall ensure to intimate the subscribers about the subsequent contributions through
SMS, e-mails or any other electronic mode.
(v). PoP-APY shall run the debit cycle as detailed in Schedule I of these guidelines in
order to ensure deduction of subscriber’s contribution from the savings bank account of
the subscriber under APY.
(vi). In case of subsequent contributions, PoP-APY shall run the debit cycle once for all
APY subscribers within first ten calendar days of the month / quarter / half year, as the
case may be. Post completion of first debit cycle, PoP-APY shall continue to raise
demand on all working days till the collection of contribution from the saving bank
account of all such subscribers. Periodic contribution as per the frequency opted by
subscribers shall be debited on FIFO basis i.e. - due instalment shall be recovered first
along with the fixed amount of overdue charges as applicable from time to time. Overdue
charges shall become payable by the subscriber, if the contribution could not be collected
from the saving Bank account of the subscriber in the first month, notwithstanding the
fact that the chosen frequency of remittance is quarterly or half yearly.
[2] Pooling of contribution in the single designated collection account
(i). PoP-APY shall ensure that no funds remain un-reconciled in the collection account.
It shall also ensure that the details of all contributions received in collection account are
uploaded into CRA system and ensure remittance of the funds to the Trustee Bank, as
per the timelines prescribed under Schedule I.
(ii). PoP-APY shall maintain branch-wise, complete audit trail of all transactions
processed under APY including receipt of APY registration form, PRAN
generation/activation, issuance of acknowledgement receipt, deduction of contribution,
SCF upload, fund remittance to the Trustee Bank, receipt of Government Co-contribution
by it, if any, credit of Government Co-contribution into the respective savings bank
account of the subscribers, refund of un-utilized Government Co-contribution to the
PFRDA, receipt of forms at the nodal office, receipt and processing of other subsequent
requests, receipt of exit forms at branch and/or nodal office etc. along with date of such
transactions.
Page | 3
[3] Handling of system/technical issues
(i) PoP-APY may request for waiver of compensation for delay in activities as prescribed
in Schedule I due to system/technical issues, for consideration of the PFRDA.
(ii) PoP-APY shall submit such request duly signed and stamped by the Compliance
Officer, after duly taking their internal approval, along with the supporting documents
such as the screen shot of an error in the event of any unsuccessful attempt for
transactions etc., through its registered e-mail id.
(iii) PoP-APY shall submit the request of waiver of overdue interest (ODI) for
exceptional circumstances in accordance to Circular no PFRDA/4/62 dated 5th April 2018
and Circular no PFRDA/03/05/1/0074//2017-PnD-APY-Part(5) dated 30th July 2021, and
the instructions issued by the Authority from time to time.
[4] Risk Mitigation Measures
(i). PoP-APY shall monitor the functioning and processing of the collection account on
daily basis.
(ii). PoP-APY shall ensure necessary vigil and due diligence of the registration of
subscribers and the entire fund collection process.
(iii). The compliance officer of the PoP-APY shall regularly review internally the
compliance of the Act, rules and regulations, notifications, circulars, guidelines,
directions, advisories etc. issued by the PFRDA/GoI from time to time, on at least
quarterly basis or more frequently, if required, and record of the same shall be
maintained. Any deviations in this regard shall be unconditionally reported to PFRDA.
D. Reports and Disclosures
[1] The PoP-APY shall submit the scanned / digitally signed copy of the following reports
to PFRDA at [email protected] from the e-mail id of the Compliance Officer:
(i) Annual Compliance Report as on 31st March of the said FY, shall be submitted to
Supervision department – PoPs, PFRDA by 30th April, every year, as per Annexure 1
including details of APY collection account maintained by PoP-APY as per Annexure
1.1.
(ii) Cyber Security Certificate as per circular no. PFRDA/2020/13/SUP-POP/2
dated April 21, 2020.
[2] The details of APY related activities undertaken by facilitators/any other channel
approved by PFRDA or Government of India shall also be included by the PoP-APY in the
report mentioned above.
[3] PoP-APY shall submit the details/reports as may be specified by PFRDA from time to
time.
Page | 4
E. Redressal of grievances
[1] PoP-APY shall internally maintain a Grievance Redressal Mechanism as per Pension
Fund Regulatory and Development Authority (Redressal of Subscriber Grievance)
Regulations, 2015 for redressing the complaints with respect to the services rendered to
APY subscribers. The name, e-mail id/s and telephone number/s of the designated
Grievance Redressal Officer (GRO) of the ‘PoP-APY’ shall be made public through display
on website and/or at branches, as the case may be. The GRO shall ensure that the grievances
of subscribers are redressed effectively and expeditiously.
[2] POP-APY shall monitor grievances lodged in CGMS portal on daily basis and it shall
ensure that those grievances are resolved on immediate basis.
[3] PoP-APY shall be responsible for receiving grievances from the subscribers and other
intermediaries, uploading of grievances into CGMS portal of CRA, if they are not received
through CGMS, and verification and redressal of grievances expeditiously.
[4] The PoP-APY shall ensure that an effective mechanism to receive and redress
complaints from the subscribers, is in place and the grievances are examined and redressed
in a prompt and fair manner.
[5] PoP-APY shall lodge its grievance or complaint, if any, against any intermediary such
as CRA or Trustee Bank, in CGMS portal.
F. Exit processing
[1] All the exit cases shall be processed as per guidelines issued by PFRDA/GoI from time
to time.
[2] PoP-APY shall check the status of the bank account of the subscriber linked to the APY
account before processing the exit cases and shall not process the exit without ensuring that
active savings bank account is available for crediting the closure proceeds.
[3] PoP-APY shall sensitize subscribers to not close the savings bank account till the credit
of exit proceeds of APY.
[4] PoP-APY shall ensure proper credit of the final withdrawal proceeds in savings bank
account of the subscriber, to his satisfaction.
G. Other Functions
Page | 5
(iv). The latest details available with PFRDA in respect to the Compliance Officer of the
PoP-APY shall be considered for serving any notice(s) or taking any regulatory actions,
in case of any breach of any regulations or operational guidelines as envisaged under the
extant Regulations.
[2] IT and cyber security requirements:
PoP-APY shall have adequate IT infrastructure at all its branches, registered for carrying
out activities under APY, prescribed under the PFRDA Act, 2013, Rules, Notifications,
guidelines etc.
(i). For access to CRA system the concerned PoP-APY shall:
(a) Have regular and uninterrupted internet connectivity for web-based interaction;
(b) Have demonstrated capability to electronically transmit the information related to
APY subscriber contribution through Subscriber Contribution Files (SCFs) as per the
prescribed timelines;
(c) Have adequate systems with Operating System (OS), web browsers at all its
branches and back office software for:
(I) Receiving transactions requests and uploading in the CRA system;
(II) Issuance of acknowledgement with unique ID against receipt of subsequent
contribution and all other activities; and
(III) Monitoring status of each transaction and generating regular MIS reports for
internal control purposes.
(ii). It shall be the responsibility of the PoP-APY to utilize and act on the basis of views
and reports made available online/offline by CRA for providing quality service delivery
to the APY subscribers.
(iii). PoP-APY shall ensure timely completion of the APY module development as per
the direction/s from the PFRDA from time to time.
(iv). PoP-APY shall ensure compliance of cyber security policy and submit the reports
as prescribed by PFRDA from time to time.
Other details and relevant documents are available at www.pfrda.org.in
**********************************************
Page | 6
SCHEDULE I: Service Standards for PoP-APY
Page | 7
Types of Service Requirements Turn Around Time Compensation payable
Activities in case of delay by
POP-APY
the subscriber or during
customer due diligence, PoP-
APY/ Branches of PoP-APY /
BCs/Facilitators shall:
a. Coordinate with the
applicant to rectify the
discrepancies found by
promptly calling information
from the applicant or getting
the new form filled, if
required.
b. In case of rejection, reasons
to be provided to applicant in
writing.
2. Contribution Processing
a. Collection and PoP-APY shall put Standing Maximum T+1, For each delayed
processing of Instruction based on the Where T is the transaction at PoP-APY /
initial frequency opted by subscribers activation date of Branches of PoP-APY,
contributions and initiate the first deduction PRAN by CRA PoP-APY shall pay:
from the savings bank account @8% p.a. of the
of the subscriber. contribution amount
rounded off to next
integer value, for the
period of delay. (This
amount should be
Page | 8
Types of Service Requirements Turn Around Time Compensation payable
Activities in case of delay by
POP-APY
credited to the
subscriber’s PRAN)
b. Collection and i. PoP-APY shall run the debit i. PoP-APY shall run PoP-APY shall pay the
processing of cycle once for all APY the debit cycle once overdue interest (ODI)
subsequent subscribers within first ten for all APY as per ODI rates
contributions calendar days of the month / subscribers within determined by the
quarter / half year, as the case first ten calendar days GOI/Authority from
may be. of the month / quarter time to time, in case the
/ half year, as the case subsequent contributions
ii. Post completion of first debit may be. file is uploaded post the
cycle, PoP-APY shall continue stipulated time in CRA
to raise demand on all working ii. Post completion of system.
days till the collection of first debit cycle, PoP-
contribution from the savings APY shall continue to
bank account of all such raise demand on all
subscribers. working days till the
collection of
iii. Periodic contribution as per contribution from the
the frequency opted by savings bank account
subscribers shall be debited on of all such
FIFO basis i.e.- due instalment subscribers.
shall be recovered first along
with the fixed amount of
overdue charges as applicable
from time to time.
c. Upload of SCF i. PoP-APY shall prepare Maximum T+2, For each delayed
and remittance of and upload SCF into CRA where T is the date of transaction at PoP-APY /
initial and system. deduction of Branches of PoP-APY,
subsequent subscriber’s PoP-APY shall pay:
contributions ii. The transaction id thus contribution from @8% p.a. of the
generated shall be entered by savings bank account. contribution amount
the PoP-APY in the rounded off to next
NEFT/RTGS window while integer value, for the
remitting the contributions to period of delay. (This
Trustee Bank amount should be
credited to the
subscriber’s PRAN)
Page | 9
Types of Service Requirements Turn Around Time Compensation payable
Activities in case of delay by
POP-APY
3. Processing of Service request(s)
a. Grievances i. POP –APY / Branches of As per the PFRDA As per the PFRDA
received from PoP-APY should check CGMS (Redressal of (Redressal of
APY subscribers/ portal on daily basis. subscriber grievance) subscriber grievance)
prospects Regulations, 2015 and Regulations, 2015 and
ii. PoP-APY / Branches of PoP- if, any amendments if, any amendments
APY shall receive and upload thereto. thereto.
grievances, if received directly
or through other intermediary,
into CGMS at CRA portal on
the same day.
Page | 10
Types of Service Requirements Turn Around Time Compensation payable
Activities in case of delay by
POP-APY
acknowledgement slip /receipt documents, if any as wrong/in-correct
with unique number along with prescribed therein. processing, PoP-APY
receipt date and stamp / shall pay: @ 8% p.a. of
signature to the subscriber. the exit proceeds amount
rounded off to next
b. PoP-APY shall check the integer value, for the
status of the bank account of period of delay. (This
the subscriber linked to the amount should be
APY account before processing credited to the
the exit cases and shall not subscriber’s savings
process the exit without bank account)
ensuring that active savings
Bank account is available for ii. In case the loss to
crediting the closure proceeds. subscriber is more
than the compensation
c. PoP-APY / Branches of PoP- applicable, then PoP-
APY shall upload and process APY shall make good
the exit requests as per the the loss and credit the
SOP (Standard Operating same to the subscriber’s
Procedure) provided by CRAs savings bank account.
at their portal.
ii. Exit due to death Maximum T+12,
where T is the receipt
a. POP-APY / Branches of of such forms along
POP-APY shall provide with all supporting
acknowledgement slip /receipt documents as
with unique number along with prescribed therein.
receipt date and stamp /
signature.
b. POP-APY / Branches of
POP-APY shall upload and
process the exit requests as per
the SOP (Standard Operating
Procedure) provided by CRAs
at their portal.
Note: The working days are to be considered for calculation of T and the prescribed TATs
indicate the maximum timeframe prescribed for particular activities. However, PoP-APY shall
ensure carrying out the activities in fastest possible time.
Page | 11
Annexure 1
Annual Compliance Report for FY_________________
[To be submitted by PoP-APY to PFRDA at [email protected] by 30th April, every
year, through registered email id of Compliance Officer, Digitally signed/scanned]
Page | 12
Sr. Complied Exceptions
No. Particulars With along with
(Yes/No) reasons to be
provided* / any
other remarks
11 Whether the PoP-APY debits the initial contribution after the
PRAN is activated within maximum T+1, where T is the
activation date of PRAN by CRA?
12 Whether the PoP-APY ensures to run the debit cycle as
prescribed in Schedule I in order to deduct the subsequent APY
contributions from the saving accounts of the APY subscribers
having different frequency of payment?
13 Whether the SCF upload and fund remittance by the PoP-APY
are as per the prescribed TATs under Schedule I of the
guidelines?
14 Whether the grievances received directly by the PoP-APY /
PoP-APY branches in respect of APY are being captured and
maintained in their records and subsequently the same are
lodged in the CGMS?
15 Whether all grievances in CGMS at CRA portal are being
resolved within the time frame provided in the PFRDA
(Redressal of Subscriber Grievance) Regulations, 2015?
16 Whether the service requests are being processed as per
prescribed TATs under Schedule I of the guidelines?
17 Whether all exit requests received at the PoP-APY/ PoP-APY
branches are being processed as per prescribed time lines
mentioned under Schedule I of the guidelines?
18 Whether the subscriber/claimants are being contacted by the
PoP-APY for additional documents demanded by CRA for
settlement of claims?
19 Whether the agreements executed by the PoP-APY with the
facilitator/Banking Correspondent/any other service provider
approved by the PFRDA (if any), are in conformity and
accordance with the PFRDA (PoPs) Regulations, 2018 and
amendments thereof?
20 Whether the activities of the facilitator/Banking
Correspondent/any other service provider approved by the
PFRDA (if any) are being monitored by the PoP-APY regularly
as per the prescribed TATs?
21 Whether the PoP-APY, upon receipt of Government Co-
contribution under APY, has transferred / credited such amount
into the respective savings bank account of the subscriber and
returned the un-utilized amount to PFRDA for period FY 2015-
16 to 2020-21?
Page | 13
Sr. Complied Exceptions
No. Particulars With along with
(Yes/No) reasons to be
provided* / any
other remarks
22 Whether the PoP-APY has submitted all Utilization Certificates
to PFRDA for period FY 2015-16 to 2020-21?
23 Whether the PoP-APY is adhering to the provisions of the
PFRDA Act, rules and regulations, notifications, circulars,
guidelines, directions, advisories etc. issued by / the PFRDA /
GoI from time to time for specified activities?
24 Whether the PoP-APY has outsourced any activity beyond such
as permitted under the extant regulations, circulars, guidelines,
directions, advisories issued by the PFRDA from time to time?
25 Whether PoP-APY has ensured the compliance of cyber
security measures and submitted the reports as prescribed by the
PFRDA from time to time?
*Separate Annexure may be provided.
I, hereby, certify that all the activities as mentioned above are compliant with provisions of
the PFRDA Act, rules and regulations, notifications, circulars, guidelines, directions,
advisories etc. issued by the PFRDA / GoI from time to time. Exceptions, if any, have been
reported above with remarks in the table.
Email id:
Date:
Page | 14
Annexure -1.1
S. Name of collection
Bank account number Name of the Bank Closing Balance
No. account
Date of remittance
Name of the subscriber / PRAN /
S. Date of receipt to the Trustee Bank,
SCF Transaction details Amount
No. of clear funds if done after 31st
(whichever available)
March, _____
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