Revised list of Know your customer (KYC) documents required for both entry and exit under National Pension System (NPS)
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
Sub: Revised list of Know your customer (KYC) documents required for both entry and exit under National Pension System (NPS)
Attention of all stakeholders is invited to the illustrative list of documents acceptable as proof of identity and address in terms of the KYC requirements and as provided In the offer document of National Pension System. Basing on the revised guidelines on obligations under PMLA, 2002 as amended by Prevention of Money Laundering (Amendment) Act, 2009 and in order to bring In uniformity and alìgn the KYC documents required for opening of accounts under NPS with those required by other financial sector institutions, it has been decided to replace the existing KYC document list with a new set of documents as provided in Annexure I for both entry and exit under National Pension System (NPS).
Annexure I referred above is being attached herewith for information and use of all. The new KYC norms as per this circular will come Into effect from 10/02/2013. The above guidelines will be applicable for all variants of National Pension System. The circular has also been placed on PFRDA website at http://www.pfrda.org.in
List of documents acceptable as Proof Identity and address for both entry and exit under NPS (for all variants)
The following may be noted for a better understanding of the issues related to accepting KYC documentation as mentioned above:
a) If the address on the document submitted for identity proof by the prospective Customer is same as that declared by him/her in the account opening form, the document may be accepted as a valid proof of both identity and address .
b) If the address indicated on the documents submitted for identity proof differs from the address mentioned in the account opening form, a separate proof of address should be obtained.