With this update, government entities that have the required infrastructure or capability can handle NPS accounts directly with the Central Recordkeeping Agency (CRA), and, where capable, bypass Points of Presence (PoP), which could reduce processing friction and may eliminate PoP-related charges for employees of such government entities.
Non-government players will pay an annual 0.2% fee based on their managed assets, shifting PoP payments from per-transaction to a more streamlined system.
The goal: smoother service and better efficiency for everyone using NPS.