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MF News Tell your clients not to fall prey to unauthorised pension fund advisors

Tell your clients not to fall prey to unauthorised pension fund advisors

The pension fund regulator has found that a few unauthorised advisors have charged a fee to the extent of Rs.30,000 on the pretext of providing assistance in withdrawing money from their NPS account.
Team Cafemutual Apr 16, 2018

PFRDA has asked people not to pay any fee to unauthorised advisors to withdraw money from their NPS account.

The pension fund regulator has found that a few unauthorised advisors have charged a fee to the extent of Rs.30,000 from subscribers on the pretext of providing assistance in withdrawing money from their NPS account.

In a press release, PFRDA said, “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 our notice that some persons, actually believing such claims, are willing to pay large sums (about Rs.29,999) to such elements. This is to inform public 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.”

The pension fund regulator has advised people to approach authorised pension fund advisors such as points of presence, aggregators and pension fund advisors.

PFRDA has urged people to inform the police if they get any such calls from a person posing as PFRDA official or advisor.

 

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