If you have an NPS account, brace up to pay an advisory fee for seeking services of retirement advisors. The PFRDA has permitted retirement advisers to charge a fee ranging between Rs 100 and Rs 1,000, depending on the type of advice and service they offer. The exiting norm stipulates an on-boarding fee of Rs 120 and a fee of Rs 20 per transaction or a maximum of Rs 100 per annum for subsequent services.
Further, the circular states that the scope of such advice being provided by the retirement advisers in any manner, either oral or in writing to the subscribers will be limited to asset allocation and choice of a pension fund manager.
