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"The pension regulator PFRDA, along with the capital market regulator SEBI, has introduced a new feature. This feature lets NPS subscribers see their pension fund savings, demat securities, and mutual fund holdings all in one statement called CAS. This is going to help more than 1.35 crore NPS subscribers. It's an easy and safe way to keep track of NPS investments.
Right now, CAS is provided by two companies - National Securities Depository Ltd and Central Depository Services Ltd. It shows all your investments in one place and tells you how much they're worth.
Around 50,000 NPS subscribers have already said they're interested in using this feature and seeing their NPS savings through CAS, according to some sources.
This new thing PFRDA is doing connects the NPS Statement of Transaction (SoT) with CAS. This matches with the government's idea of having all your financial information in one place.
Before this, the NPS SoT was given to people once a year, either as a physical copy or through email. You could also check it online through a CRA login.
Now, PFRDA has given permission to these CRA websites to connect with companies registered with SEBI. This means NPS subscribers can choose to see their NPS transactions in CAS.
If you want to do this, you just have to say yes. It's your choice. You can say yes on the CRA websites.
Pension savings have been growing quickly in the last few years, by more than 20 percent every year. The total money managed by NPS and APY is now a huge ₹9.92-lakh crore.
Having CAS is really helpful. It makes things easy because you only need one statement for all your investments. This means less paperwork and you can see everything together."
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Circular No: PFRDA/2023/26/Sup-CRA/07
10th Aug 2023
All Subscribers & NPS Stakeholders
Subject: Simplified & Secured way to stay Informed on NPS Investments through Consolidated Account Statement (CAS)
The CAS provided by National Securities Depository Limited (NSDL) and Central Depository Services Ltd (CDSL) offers a consolidated view of the personal investments in the securities market with updated mark-to-market values. It encompasses holdings of Demat accounts and mutual fund holdings of the investors.
a. Consent Basis:
The facility to include NPS SoT in CAS will be available to NPS subscribers on consent basis. If the Subscriber wishes to opt for this inclusion, the consent can be provided on the respective website of aforementioned CRAs.
b. Nominal Charges:
A fee of Re 1/- will be applicable for each physical statement requests, while 10 paise will be charged for each email statement.
Digitally signed by K
Chief General Manager