National Pension System (NPS) FAQs
Save on tax while saving for the future
NPS offers 4 fund choices to subscribers:
b. Corporate Debt
c. Government Securities
d. Alternate Investment fund
NPS returns are market linked and there are no guaranteed returns
Yes. Subscriber can switch the asset allocation pattern under Active Choice twice in a financial year.
Yes. Subscriber gets this flexibility. This can be done twice in a financial year
Yes, once in a financial year
There is no restriction in terms of frequency of contribution. Subscriber has the option to make the contribution in any mode – monthly, quarterly, half yearly or yearly. Also, Subscriber can make ad – hoc contribution as well.
Yes, NPS offers this flexibility. Subscribers are allowed to alter the contribution amount as per the suitability.
Yes, both SMS and Email alert is sent once the contribution is credited to Subscriber’s NPS account
Yes. In case of loss or damage of PRAN Card, the Subscriber needs to submit a duly filled S2 form to the POP for issuance of duplicate PRAN Card. Rs.50 plus applicable GST will be deducted by CRA for issuing duplicate PRAN
Yes. An annual statement highlighting the unit holdings is issued by CRA to Subscriber’s registered address within 3 months of the end of every financial year
A. The account is frozen due to the below mentioned reasons :
I. Minimum contribution amount not deposited in Tier I a/c : Please submit the unfreezing request form (UOS S10A) form along with the self-attested copy of your PRAN card & a cheque of Rs. 23.60/- favouring “KMBL Collection A/c NPS Trust”.
II. Online NPS application is not digitally signed/ Documents not submitted: Please e sign your online application on e-NPS portal OR submit your application form along with the supporting documents to NSDL within 30 days from the date of opening the a/c on e-NPS portal.
You have to shift your NPS account to the corporate model of your company by submitting the shifting request form (ISS 1) along with the self-attested copy of your PRAN card & a cheque of Rs. 23.60/- favouring “KMBL Collection A/c NPS Trust”.
You have to submit the scheme change request form (CS S3 form for corporate subscribers & UOS S3 form for Individual subscribers) along with the self-attested copy of your PRAN card & a cheque of Rs. 23.60/- favouring “KMBL Collection A/c NPS Trust”.
Also this can be done by logging in to the CRA website
You have to submit the scheme change request form (CS S2 form for corporate subscribers & UOS S2 form for Individual subscribers) along with the self-attested copy of your PRAN card & a cheque of Rs. 23.60/- favouring “KMBL Collection A/c NPS Trust”.
C. You can log into your NPS account on NSDL portal & view/ download your account statement. You can reset your password on NSDL portal by following the below mentioned steps :
D. Please log into the CRA-NSDL portal mentioned below :https://cra-nsdl.com/CRA/
E. Click on to “Forgot Password” option below the Subscribers’ Login.
F. Click on to “Instant Reset I-PIN” option.
G. Enter your PRAN no. & other personal details & enter a password of your choice.
H. Please re-enter the same password & click on “Generate OTP” button.
I. Please enter the 4 digit OTP (One Time Password) in the system.
J. A page mentioning that your password has been successfully reset will get displayed.
K. Please logout & re login into your own Account with the User ID as your PRAN & your new password.
NRIs cannot submit their FATCA online. They have to submit the physical copy of their respective FATCA declaration forms to NSDL.
Your account can be freezed for the following reasons:
Yes. Subscriber can withdraw maximum of 25% of Individual contribution amount towards Tier - I NPS Account after 3 years. Additionally. This is applicable only in case of contingencies like Critical Illness, higher education, Child marriage etc
Yes there is a provision of withdrawal in case of early withdrawal
Yes. Subscriber can use 100% of accumulated wealth to buy annuity plan
It will depend on the kind of annuity plan opted for the Subscriber. For an example, if the annuity plan is joint life annuity plan, on death of Subscriber, the spouse will get the annuity till he / she is alive