National Pension Scheme

National Pension Scheme by Muthoot FinCorp

The Government of India rolled out the National Pension Schemes for the citizens of India from 1st May, 2009. Muthoot FinCorp is a registered entity under PFRDA authorised to undertake all the activities as Points of Presence (POPs). With this registration, we can enrol both corporate and retail individual customers under the NPS.

Salient Features of the Scheme:

Under the National Pension Scheme, you are entitled to various facilities like opening Permanent Retirement Account, contributing to NPS etc.

• Indian citizens who participate in the scheme are referred to as Subscribers
• Subscribers can access the schemes at various locations in India - with more than 3500 branches in India, we can help you with the investment
• All investments and processes under NPS are carried out by POPs appointed by the PFRDA
• It is important to have a Mobile number, email ID and an active Bank account with net banking facility enabled to participate in the Scheme

1. 1. Purpose

Muthoot FinCorp Limited (“MFL” or “Company”) is committed to protect its core value, i.e “to do everything to gain and maintain the trust of all the stake holders and will not do anything to lose their trust”, and adhere to the professional standards of ethical, moral, and legal conduct of its business operation.  To be the “preferred financial services provider of choice to the common man” as one of its strategic objectives, the Company always endeavour to satisfy the customers with its financial products and by improving the financial wellbeing.  The Company gives priority for customer satisfaction and has taken adequate redressal mechanism to address the complaints and service  requests of our customer. This policy laid down the mechanism adopted by the Company for the redressal of the national pension system grievance 

2. 2. Scope

This policy applies to the subscribers of the scheme of Nation Pension Fund as defined in the Pension Fund Regulatory & Development Authority Act, 2013. For the purpose of this policy, the subscriber includes the employees of the Company or its Group Companies or its Customer,  as and when the option for subscription is made available to them.  

3. 3. Process for registering the grievances/ complaints

The Company has a robust and transparent Grievance Redressal mechanism which functions in accordance with guidelines prescribed by Pension  Fund Regulatory & Development Authority (“PFRDA”). The offices/branches or the officers of the Company where/with whom a subscriber can register the complaint, the different levels of escalation and timelines for a satisfactory resolution are displayed at office premises of the Company. 

Every complaint received from the subscriber shall be attended to and replied within 3 working days (“Response Time”) and to the extent possible, resolved within ‘3 working days’ (“Resolution Time”)

The complaints received from the subscribers are analysed on half-yearly basis for the process improvement and necessary amendments to this policy shall be made from time to time.  The summary of total complaints received, and its nature and status of resolution  shall be updated to the Board of Directors every 6 months.  

4. 4. Escalation matrix

Subscribers shall follow the escalation matrix for grievances mentioned below:

Level-1: Subscriber can reach Muthoot FinCorp Ltd Grievances centre by phone call /email.

Initial Level: Subscriber can submit the grievance with his /her Permanent Retirement Account Number (PRAN)  to the following registered address and contact Muthoot Fincorp Ltd NPS desk at nps@muthoot.com 

Address:-
Muthoot FinCorp Ltd
Muthoot Centre
Punnen Road
Trivandrum – 695001
Email- nps@muthoot.com 
Phone- 0471 4083 249

If the complaint is not resolved in initial level, the subscriber can contact the Grievance officer of Muthoot FinCorp Ltd. 

Then Grievance officer details are as follows.

Julia Mathew 
Associate Vice President - Operations
Muthoot FinCorp Ltd
Muthoot Centre,
Punnen Road, Trivandrum - 695001.
Email - julia.mathew@muthoot.com

Level-2: Subscriber can directly register their grievance/Complaint to PFRDA

As per the provisions of the PFRDA (Redressal of subscriber Grievance) Regulations 2015, the subscribers can raise their grievances for resolution through the Central Grievance Management System (CGMS). The subscriber shall file his/her grievances before the intermediary/office concerned, seeking the resolution of the grievance. The resolution remarks provided by the intermediary/office concerned shall be intimated by MFL to the subscriber over email and enable the subscriber to view the remarks online.

To raise grievance, subscriber may click on the respective CRA under which his/her PRAN is generated. 

Following are the details and processes to lodge the grievances and view the status of resolution:

KFin Technologies Pvt. Ltd

1. Web based interface for registering grievance/complaint:

• Subscriber can register a grievance through a web-based interface provided by the KFintech CRA with the use of I-PIN by visiting our website https://enps.kfintech.com/login/login/. KFintech will have to provide the necessary details as required in the web-based format. On successful registration, a token number will be displayed on the screen for the purpose of reference.
• Subscriber can also raise the grievance without login into the CRA system by providing the relevant details on https://enps.kfintech.com/registergrievanceenquiry/registergrievanceenquiry/

2. Other modes of registering grievance/complaint:

• Call Centre/Interactive Voice Response System (IVR):  Subscriber can reach KFintech Call Centre our toll-free number 1800 208 1516. Subscriber can raise a grievance after authentication using T-PIN. The grievance will be registered by the Call center executive and a token number will be given to the entity for reference.
• Physical forms:A subscriber can log a grievance by submitting details in a physical form to the Central Grievance Management Cell at CRA. Subscriber has to submit the Grievance Form (Form G1) to CRA. On receiving such a grievance, the CRA user will digitize the same and lodge a request in the CRA system, with SMS/email intimation to the subscriber. It can be sent on following address:

KFin Technologies Pvt. Ltd, Selenium Tower B, Plot Nos. 31 & 32 Financial District, Nanakramguda, Serilingampally Mandal Hyderabad – 500 032

3. How to check the status of the Grievance?

Subscriber can check the status of the grievance at the CRA website (https://  https://enps.kfintech.com/login/login/ ) or through the Call Centre by mentioning the token number.

Level-3: Subscriber can directly file the Grievance/Complaint to National Pension System Trust.

If the complainant is not satisfied with the redressal of his/her grievance or if it has not been resolved by the intermediary by the end of thirty days of filing of complaint, he/she may escalate the complaint to the National Pension System Trust (NPS Trust) through any one of the following modes -

1. Website: www.npstrust.org.in / https://www.npstrust.org.in/content/contact-us 

Letter: Subscriber may also raise the grievance by writing to NPS Trust at the following address -

Grievance Redressal Officer (GRO)
National Pension System Trust
14th Floor, IFCI Tower
61, Nehru Place
New Delhi – 110 019
Ph: +91 11 47207700

Level 4:  If the complainant is not satisfied with the redressal of his grievance or no reply beyond 30 days at level 3 is received, Ombudsman appointed by PFRDA can be approached by the subscriber by submitting the details as per prescribed format ( annexure- Circular - Ombudsman for resolving grievances under NPS & APY : Format for raising complaint to Ombudsman ).

Ombudsman Details:  At present only one Ombudsman has been appointed by PFRDA.

Shri Arnab Roy
Pension Fund Regulatory and Development Authority
B-14/A, Chatrapati Shivaji Bhawan,
Qutab Institutional Area, Katwaria Sarai, New Delhi- 110016
Chhatrapati Shivaji Bhawan,
Email Id:ombudsman@pfrda.org.in
Landline No.:011 - 26517507  Ext: 188

Level 5:   If subscriber is not satisfied with the order passed by the Ombudsman, subscriber can file appeal against the order to the Designated member of PFRDA at following address:

Ombudsman department,
Pension Fund Regulatory and Development Authority (PFRDA)
B-14/A, Chatrapati Shivaji Bhawan,
Qutub Institutional Area, Katwaria Sarai
New Delhi – 110 016

Level 6:  Securities Appellate Tribunal (SAT).

The subscriber can file appeal before SAT against the orders passed by the Pension Fund Regulatory and Development Authority (PFRDA) at
 Level 4 & 5.