NPS, APY Grievance Redressal ALERT: PFRDA appoints Ombudsman for resolving grievances under National Pension Scheme, Atal Pension Yojana

NPS, APY Grievance Redressal: Pension Fund  Regulatory and Development Authority (PFRDA) has appointed an Ombudsman to receive, consider and to facilitate resolution of complaints or grievances under the ambit of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015. An Appeal to the Ombudsman may be filed  by any aggrieved subscriber of NPS and APY if the investor's grievance has not been resolved within 30 days from the escalation of the grievance by filing a written complaint with the National Pension System Trust (NPST) or where a complaint has been made directly against the NPST (and no other intermediary) and the same remains unresolved within the specified period of 30 days; or in case of grievance against any other pension scheme regulated by the Authority, the same remains unresolved for a period of 30 days from the filing.      

In terms of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015, every intermediary under NPS/APY or under any other pension scheme regulated by PFRDA, is required to display the name/ address of the Ombudsman in its office premises prominently for the notice of the subscribers visiting their office premises. The intermediaries are further required to give full disclosures about Grievance Redressal Mechanism through the Ombudsman in their offer document, subscriber's agreements, notifications, office memorandum, circulars etc.  

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In order to guide, help and facilitate the subscribers for availing this facility, PFRDA has come out with Frequently Asked Questions (FAQs) on the matter and has hosted the same on its pfrda.org.in.