Be the bridge to a worry-free retirement for millions

Explore pension business opportunity

Who can become a Pension Agent?

Banking Correspondents permitted by the Reserve Bank of India

Insurance Agents registered with the Insurance Regulatory and Development Authority of India

Mutual fund distributors registered with the Association of Mutual Funds in India

Primary Agricultural Credit Societies (PACS), which have completed their computerisation under the Centrally Sponsored Project for ‘Computerisation of PACS’ implemented by NABARD and have an e-PACS certificate

MSME associations, which are officially recognised and engaged by the Ministry of MSMEs and other Government Ministries or Departments or State Governments

Chartered Accountant (CA) holding an active membership of the Institute of Chartered Accountants of India (ICAI)

Company Secretary (CS) holding an active membership of the Institute of Company Secretaries of India (ICSI)

Cost and Management Accountant (CMA) holding an active membership of the Institute of Cost Accountants of India (ICMAI)

Chartered Financial Analyst (CFA) holding a charter from the CFA Institute (USA) and operating in India in coordination with the CFA Society (India)

Certified Financial Planner (CFP) holding a valid certification and unique ID from FPSB India and an active member by earning continuing professional development points within the specified cycle and adherence to regulatory requirements

Business Correspondent Sakhis or Pension Sakhis operating under the framework of National Rural Livelihoods Mission (NRLM) and State Rural Livelihoods Missions (SRLMs)

Gramin Dak Sevaks (GDS) operating under the Department of Posts (DoP), Government of India

Digital platform or fintech companies, or other technology-enabled service providers registered with the Ministry of Corporate Affairs or operating under the regulatory framework of financial sector regulators, provided that such entities shall collect funds only through electronic mode

Backed by India’s largest public sector bank

Largest PFM with INR 5.6 trillion AUM (as on 31.03.2026)

Trusted by over 1.85 crore NPS subscribers

Holding highest market share ~34%

Presence across the country

Register Your Interest

Full Name as per PAN*

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You would like to register as*:

Individual Pension AgentCorporate Pension Agent

Name of Firm*

Please select current distribution activity:

Banking Correspondent (RBI)Mutual Fund Distributor (AMFI)MSME associationsCompany Secretary (CS)Chartered Financial Analyst (CFA) Business Correspondent SakhisDigital platform or fintech co.Insurance Agent (IRDA)Primary Agricultural Credit Societies (PACS)Chartered Accountant (CA) Cost & Management Accountant (CMA) Chartered Financial Planner (CFP)Gramin Dak Sevaks (GDS)Other (specify)

Are you currently associated with any POP as a pension agent?

NoYes (specify)

Questions For Agents

Eligibility & Regulatory Framework

What is a Pension Agent under PFRDA regulations?

A Pension Agent is a person or entity engaged by a Point of Presence (PoP) to facilitate the distribution of pension schemes governed under the PFRDA Act, 2013. Pension Agents act as the last-mile interface between subscribers and PoPs for onboarding and servicing, as defined under Regulation 2(1)(j) of the PFRDA (PoP) Regulations, 2018.

Who can become a Pension Agent as per the PFRDA (PoP) Regulations, 2018?

Eligible Pension Agents include banking correspondents, insurance agents, mutual fund distributors, and other persons permitted by the Authority, subject to approval by the Board of the respective PoP.

Are non-individual entities allowed to become Pension Agents?

Yes. PFRDA permits engagement of non-individual entities as Pension Agents, subject to compliance with applicable regulations and approval of the Board of the PoP.

Which nonindividual intermediaries are eligible to act as Pension Agents?

Non-individual intermediaries registered with financial sector regulators such as RBI, IRDAI, SEBI, or PFRDA are eligible to be engaged as Pension Agents.

Can intermediaries, registered with RBI, SEBI, IRDAI, or PFRDA, become Pension Agents?

Yes. Such intermediaries may act as Pension Agents, provided their engagement is permitted under their respective regulatory frameworks and approved by the PoP.

Is prior approval required from the Point of Presence (PoP)?

Yes. Engagement of any Pension Agent requires approval of the Board of the respective PoP.

Can Government departments act as Pension Agents?

Yes. Government departments, particularly those linked to labour welfare, community development, health, education, Panchayats, and State Rural Livelihood Missions (SRLMs), may act as Pension Agents subject to PoP approval.

Are companies registered with the Ministry of Corporate Affairs (MCA) eligible?

Yes. Companies registered with MCA, including those working with gig workers, platform workers, and Farmer-Producer Organisations (FPOs), may be engaged as Pension Agents.

Can Farmer Producer Organisations (FPOs) and gig/platform companies become Pension Agents?

Yes, provided they meet eligibility criteria, comply with applicable regulations, and receive approval from the PoP.

Does PFRDA directly appoint or empanel Pension Agents?

No. PFRDA does not directly appoint Pension Agents. Engagement is done by PoPs with board approval.

Role & Scope of Activities

What is the primary role of a Pension Agent in the NPS ecosystem?

Pension Agents act as the primary interface between potential subscribers and PoPs, providing awareness, facilitating account opening, and supporting ongoing servicing of pension schemes.

What pension schemes can be distributed by a Pension Agent?

Pension Agents may distribute pension schemes governed under the PFRDA Act, including NPS and schemes introduced under frameworks such as the Multiple Scheme Framework (MSF).

Can Pension Agents directly open NPS accounts?

Pension Agents facilitate the account opening process, but actual account activation is done by the PoP and CRA.

What activities are permitted under Regulation 44(4)?

Activities include the distribution of registration forms, the collection of duly filled forms and documents, facilitating KYC, ensuring adherence to service standards, and compliance with applicable regulations.

Are Pension Agents allowed to collect contributions in cash?

No. Contributions must be collected only via cheque, demand draft, or approved electronic modes in favour of the PoP.

Can Pension Agents handle exit or withdrawal requests?

No. Pension Agents are not permitted to handle exit or withdrawal requests.

What documents can a Pension Agent collect from subscribers?

Agents may collect subscriber registration forms, KYC documents, and service request forms (excluding exit/withdrawal), as prescribed by PFRDA.

Is KYC the responsibility of the Pension Agent or the PoP?

While Agents collect KYC documents, ultimate responsibility for KYC, AML, and CFT compliance lies with the PoP.

Can a Pension Agent retain subscriber documents?

No. Subscriber documents must not be retained or shared beyond the permitted process.

Are Pension Agents allowed to charge subscribers directly?

No. Agents cannot charge subscribers beyond limits prescribed by PFRDA.

Onboarding & Approval Process

What is the process to become a Pension Agent?

The process includes application to a PoP, submission of documents, due diligence, board approval, agreement execution, and training.

What role does the Board of the PoP play?

The Board approves engagement, oversees compliance, and ensures regulatory adherence

Is there any minimum experience requirement?

While not explicitly prescribed by PFRDA, PoPs may define experience criteria.

Are certifications mandatory for individual Pension Agents?

Certifications may be required depending on the agent category and PoP policy.

What documents are required for individual Pension Agents?

KYC documents, regulatory registrations, address proof, bank details, and agreements.

What documents are required for corporate Pension Agents?

Incorporation documents, regulatory licenses, board resolutions, authorised signatory details, and agreements.

Is the execution of an agreement mandatory?

Yes. A formal agreement between PoP and Pension Agent is mandatory.

Is training mandatory?

Yes. Agents must undergo training before commencement.

Who provides training?

Training is provided by the PoP or Pension Fund.

Can a Pension Agent work with multiple PoPs?

This depends on contractual terms and PoP policies.

Compliance, Monitoring & Liability

Who is responsible for acts of omission or commission by a Pension Agent?

The PoP remains liable for the acts of the Pension Agent.

What compliance responsibilities does the PoP retain?

KYC, AML, supervision, monitoring, and regulatory reporting.

What AML/CFT norms apply?

Norms under the Prevention of Money Laundering Act, 2002, apply.

How are Pension Agents monitored?

Through audits, reviews, MIS, and inspections.

Can a Pension Agent be terminated?

Yes, for non-compliance or contractual breaches.

Are records subject to audit?

Yes, under Regulation 17(2).

What are the consequences of non-compliance?

Termination, penalties, and regulatory action.

What service standards must be followed?

Standards prescribed for PoPs and Agents under regulations.

Are Pension Agents covered under Schedule IV?

Yes, read with Regulation 44.

What reporting obligations apply to PoPs?

Maintenance of records and disclosures to PFRDA.

Commercials, Commission & Business Opportunity

How is commission paid?

As per the contractual agreement between PoP and Agent.

Are commission rates fixed by PFRDA?

No. They are mutually agreed, subject to subscriber charge caps.

Can subscribers be charged beyond limits?

No.

What factors influence income potential?

Subscriber base, AUM, scheme mix, and performance.

Are there higher earnings under MSF schemes?

Yes, MSF schemes may offer higher AUM-linked earnings.

How frequently is performance reviewed?

Generally, annually, or as decided by PoP.

Are targets prescribed?

Targets may be defined by the PoPs.

What support is provided to agents?

Training, RM support, marketing materials, and digital tools.

Is the model viable in rural and semi-urban areas?

Yes, due to local reach and awareness creation.

Why is becoming a Pension Agent a long-term opportunity?

Because pension assets grow over time, providing recurring income and long-term engagement.