The popularity of the National Pension System has increased significantly in the last few years. Many subscribers are not aware of the grievance redressal mechanism of NPS. NPS also gives subscribers the opportunity to lodge complaints online
National Pension System ( NPS ) has emerged as the best product for retirement planning in the last years. Awareness among investors about its benefits, tax benefits and other features has increased. But, many investors are not aware about the ways to complain against it. However, PFRDA has created a structured complaint process. This comes under PFRD Regulation, 2015. Subscribers can lodge complaints against the NPS ecosystem, Point of Service, Pension Fund Managers, Annuity Service Providers etc.
PFRDA is trying to make the complaint process effective. He also wants to increase the role and responsibility of the NPS Trust. Let us know what is the process for filing complaint now.
Complaint can be filed online
If you are an NPS subscriber, you can lodge your complaint online through the Central Grievance Management System (CGMS) of the central record-keeping agency. Protean, CAMS-NPS and Kfintech Central are the record keeping agencies. You can also make your complaint through the ‘Make Your Complaint’ link on the NPS Trust website.
Information regarding action will be received on email
Your complaint will be sent to the intermediary, pension fund manager or another NTT. You will be sent information about the action taken on the complaint on your email ID. You can also check the status of your complaint on your CRA CGM portal. For this you will have to use the token number which you would have received at the time of registering the complaint.
Complaint option in NPS Trust
If you are not satisfied with the response of pension fund managers, points of presence or other intermediaries, you can approach the NPS Trust. You can also present your views through the CGMS portal of your CRA. After filing your complaint with NPS Trust, your complaint should be resolved within 30 days. You can also email NPS Trust. For this you will have to send your complaint to grievances@npstrust.org.in. You can also contact the Grievance Redressal Officer at NPS Trust.
You can also send a complaint to the Ombudsman
If you are not satisfied with the resolution of your complaint at the NPS Trust or you do not get a response within 30 days of filing the complaint, you can approach the Ombudsman appointed by PFRDA. You can write to the Delhi Ombudsman Office about this or send your complaint to ombudsman@pfrda.org.in.
