RFP invited from CA Firms for concurrent audit of payments of benefits under UPS

RFP invited for Appointment of empanelled Chartered Accountant Firm(s) for undertaking concurrent audit of the payments of benefits to subscribers under Unified Pension Scheme (UPS)

The National Pension System Trust (hereinafter referred to as ‘NPS Trust’) invites bids for appointment of empanelled Chartered Accountant Firm(s) (hereinafter referred to as ‘CA Firms’ or ‘Firm’) for undertaking concurrent audit of the payments of benefits to subscribers under Unified Pension Scheme (UPS).

The Unified Pension Scheme (UPS) has been introduced by the Central Government as an option under the National Pension System (NPS) for the employees of the Central Government. The Unified Pension Scheme aims to provide financial security to Central Government employees, aligning with the best practices in pension management.

NPS Trust is inviting bids from Chartered Accountant Firm(s) through this RfP for undertaking concurrent audit of the payments of benefits to subscribers or legal wedded spouse under the Unified Pension Scheme (UPS). The CA Firm(s) shall be required to deploy requisite personnel to be stationed at the office of NPS Trust in New Delhi to undertake the concurrent audit of all claims and monthly payouts to be completed within a period of 2 days and 3 days respectively from the date of receipt thereof.

Eligibility – All the CA firms empanelled with NPS Trust as on 31st March, 2025 are eligible for bidding under this RFP subject to the condition that the CA Firm should not have been blacklisted or debarred or banned or declared ineligible for corrupt and fraudulent practices by the Govt. of India/ State Govt/ICAI/C&AG/NAFRA/any financial sector regulator and should not have any disciplinary proceedings pending or contemplated against it or strictures passed against it or any of its partners with ICAI/ C&AG/any financial sector regulator. The CA Firm(s), if undertaking any other assignment awarded by NPS Trust relating to processing of claims for payment of benefits under UPS, will not be selected under this RFP.

The engagement of the CA Firm(s) shall be for a period of six (6) months from the date of first deployment of the personnel at the office of NPS Trust. 

All the functions / activities to be performed by the personnel of the concurrent auditor will be undertaken on-site at the office of NPS Trust only. In this regard, the necessary infrastructure including the workspace, systems, system access, data availability, etc., required to facilitate timely and efficient audit of claims under UPS shall be provided by NPS Trust.

The selected CA Firm(s) shall be required to provide requisite personnel to undertake the concurrent audit assignment in a time-bound and professional manner with strict adherence to timelines, audit standards, reporting protocols, etc.; 

The selected CA Firm(s) shall be required to provide the requisite number of personnel for concurrent audit at a short notice depending upon the number/frequency/flow of the claims received by NPS Trust; 

Necessary trainings and support with respect to the Regulations, CRA systems, functionalities, data flows, etc., shall be provided to the personnel / officers deployed by the selected CA Firm(s);

The selected bidder(s) will be required to provide due certification with respect to the claims and monthly payouts so audited by the firm(s)

Date of issue of the RFP: 25th  April, 2025 (T)

Primary point of contact:
Smt. Bhanu Dora
Deputy General Manager
Email: dgm5-npst@npstrust.org.in
Phone: 011 35655222

Shri Ajit Singh Bisht
Assistant Manager, NPS Trust
Email: am7-npst@npstrust.org.in
Phone: 011 35655222

Address for communication:
B-302,Tower-B, 3rd Floor,
World Trade Centre,
Nauroji Nagar, New Delhi-110029

Last date and time for submission of the bid: 02nd May, 2025 [15:00 hours] (T+7 days)

Opening of technical bids: 02nd May 2025 [16:00 hours] (T+7 days)

Result Declaration: 13th May, 2025 (T+16 days) 

Download RFP for Concurrent Audit of NPS Trust Click Here >>

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