NPS subscribers alert! PFRDA warns against fraud, immediately inform police in this case

The subscribers of the National Pension System or NPS need to be extra careful in coming days. The Pension Fund Regulatory and Development Authority (PFRDA), statutory regulatory body set up under PFRDA Act, has warned NPS subscribers against frauds and phishing attacks in the name of PFRDA and NPS. In a public notice, the PFRDA said that it has discovered a new fraud where fraudsters are trying to steal money. 

“It has come to notice that some persons are demanding large sums of money by calling general public with a promise to release funds stated to be lying under NPS/PFRDA. It has also come to out notices that some persons, actually believing such claims, are willing to pay large sums (about Rs 29,999) to such elements," the notice said. 

It reminded the NPS subscribers that PFRDA is a regulatory body and does not ever call for any sum for release of funds to any individual from their Permanent Retirement Account (PRAN) maintained with the Central Record keeping Agency.  

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It further said that PFRDA has appointed entities such as Points of Presence, Aggregators etc which are banks and non-banking financial companies, authorized to interact with subscribers for a prescribed fee which is much less than what is asked for by fraudsters.  

The subscribers have been asked not to believe these messages and immediately inform police if they receive one. 

"Please Beware. PFRDA never sends any email/message promising large sums for payment of fee/charge. Any such communication is sent with the intention to defraud you. Inform Police immediately,” the warning said. 

In a case you get such a call, mail or message, PFRDA advises you:   

1. Not to believe any caller/email/letter promising to release funds from PFRDA/NPS 

2. Not to pay any amount to any unauthorized person/entity 

3. To check the identity/credential of the caller/email 

4. To inform local police immediately giving the callers' name, telephone number, email ID, address etc.