Standard Operating Procedure (SOP) for Account Maintenance

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At the end of every financial year,if the minimum contribution criteria are not met under Permanent Retirement Account of a subscriber then the account is frozen.

The details of maintaining minimum contributions are given below:

Under Tier I Account

1. Subscriber is required to make at least one contribution transaction in a financial year.

2. Minimum amount per contribution is Rs.500/-. This requirement does not apply to Government/Corporate subscribers.

3. A minimum contribution of Rs.1000/- should be maintained under Tier I account in each financial year.

Under Tier II Account

1. There is no minimum contribution requirement for Tier II account.

2. If a Tier I for a PRAN is frozen, the Tier II account is also kept in “Freeze” status even if it meets the required criteria.

For the detailed process, kindly refer the Account maintenance SOP

SOP-Account Maintenance.pdf