National Pension Scheme

An investment cum pension scheme initiated by Government of India, NPS aims to provide security post retirement age to Indian Citizens.

Age Criteria: Between 18 to 70 years

Point of Presence (POP) are the entities registered with the PFRDA to act as a customer interface to all citizens of India. They perform functions through their network of branches called POP Service Providers (POP-SP) The operations of these POP-SPs shall be coordinated and controlled by the POP. Subscriber can also enroll through eNPS online model.

National Pension System, or NPS, is a voluntary retirement savings system initiated by the Government of India when it felt the need to provide income to Indian citizens in their old age. The NPS works under the regulation of the Pension Fund Regulatory and Development Authority (PFRDA). This system mainly aims to generate income for people at the time of their retirement to help them sustain themselves in their old age.

Under NPS, the government introduced the National Pension Scheme - All Citizens Model on May 1st, 2009. This model includes all the working-class citizens of the country under its wings and provides NPS benefits to everyone. The NPS has the following objectives:

Providing sustainable income in old age
Providing planned savings options to retirees in the form of pension
Generating market-based returns over a long period

There are two ways through which a citizen can join the NPS - All Citizens Model.

The first is by visiting the Points of Presence – Service Provider (PoP-SP), the network branches of the NPS. Citizens must be between the ages of 18 and 65 years to join this scheme. The following steps need to be followed to join the NPS:

Avail your PRAN (Permanent Retirement Account Number) application number from your preferred PoP-SP. You can also avail the PRAN application form by visiting the official NPS website.

Fill out the PRAN application form with accurate details regarding scheme preference. You would also be required to provide a photograph, signature, and relevant KYC documentation.

Submit the PRAN application form at the PoP-SP. The CRA (Central Recordkeeping Agency) will send your PRAN card to your registered address.

You can track the status of your application with the receipt number provided by the PoP-SP on submission of the PRAN form.

Pay the amount required for your first contribution and submit your contribution slip to the POP-SP.

The second method of joining the NPS is by visiting the NPS website online. You have to open an NPS account on the website using your PAN and bank details. The following steps will need to be completed:

Create an NPS account and submit your PAN and bank details for verification. You also have to fill in the details online.

Upload all the documents on the online NPS portal.

Make payments for your first contribution through digital transactions such as net banking, etc.

FAQs

What is the Point of Presence on NPS?

Points of Presence or PoPs are government entities that carry out various functions prescribed by the National Pension Scheme. PoPs help Indian citizens to register and join the NPS transparently. They provide all the services under NPS through several service providers acting like branches of PoP.

Which POP is best for NPS?

There are several different POPs and CRAs to choose from. NPS KFintech is a popular CRA working towards maintaining and administering records. It also provides impeccable customer service.

What does the PFRDA do?

The PFRDA, or the Pension Fund Regulatory and Development Authority, is a government body set up in 2003. It regulates the proper functioning of the pension sector in India. The NPS was also launched under the regulation of the PFRDA for their All Citizens Model in 2009.

Forms

Following forms must be filled in at various levels under the NPS.

POP/POP-SP Registration

Form UOS-N1-Pop-Registration Form
Form UOS N1-A: POP's DSC Details Submission
Form UOS N2: POP-SP Registration
Form UOS N2-A: POP-SP's DSC Details Submission
Annexure NE-5: Bank Details Update Form

Subscriber Registration

Form CSRF: Subscriber Registration Form
Annexure I: Tier II Details
Annexure II: Additional Request Details
Annexure III: Additional Nomination Details
Form NSRF: Subscriber Registration Form-NRI
Subscriber Registration Form NSRF Annexure I
Subscriber Registration Form NSRF Annexure II
S10-Subscriber Registration Form Tier-II
Press Release by Pension Fund Regulatory & Development Authority (PFRDA)

NPS Account Maintenance

NCIS: NPS Contribution Instruction Slip
Form UOS S2: Subscriber Details Change
Form UOS S7: Subscriber's Photo and signature change
Form S3: Scheme Preference change
GoS-S3-Scheme Preference Change
S12-Withdrawal Form Tier II
UOS S13 – Form for One Way Switch
Form UOS S5: Shifting of Subscriber
Form UOS-S06- Change of POP Subscriber
UOS-S10A Application for unfreezing of PRAN under National Pension System
Form ISS - Inter Sector Shifting
PAN & Aadhaar Updation Form
Form ICSS - Inter CRA subscriber shifting form

Subscriber Grievances

Form G1: Subscriber Grievance Registration

Withdrawal Forms

Exit from National Pension System Due to Superannuation & Incapacitation
Exit from National Pension System Due to Superannuation & Incapacitation in Hindi
Exit from National Pension System Due to Premature Exit
Exit from National Pension System Due to Premature Exit in Hindi
Form for Withdrawal by Claimant due to Death of Subscriber
Form for Withdrawal by Claimant due to Death of Subscriber in Hindi
Complete Withdrawal Request Form AP
Complete Withdrawal Request Form AS
Form for Partial Withdrawal under NPS
Affidavit for non-submission of PRAN Card_subscriber
Affidavit_For non-Submission of PRAN Card_claimant
Certification of death certificate if received in Vernacular Language
Indemnity Bond
Relinquishment Deed
Request for Continuation or Deferment

A citizen of India, whether resident or non-resident, subject to the following conditions:

Applicant should be between 18 – 70 years of age as on the date of submission of his/her application to the POP/ POP-SP.
Applicant should comply with the Know Your Customer (KYC) norms as detailed in the Subscriber Registration Form. All the documents required for KYC compliance need to be mandatorily submitted.
These processes shall be carried out through the entities known as Points of Presence (POPs) appointed by the PFRDA. POPs shall provide the services under NPS through their network of branches called POP Service Providers (POP-SP).

National Pension System - POP

National Pension System - POP