Faq

What is eNPS? Who can enroll for NPS through eNPS?

• eNPS is an online platform (https://nps.kfintech.com/) provided for enabling individuals to open his/her Individual Pension Account under NPS (Tier-I & Tier-II).
• It also facilitate the new or existing subscribers to make initial or subsequent contributions respectively to their Individual Pension Account under NPS using net-banking or debit/credit cards.
• Any individual who is a citizen of India aged between 18 – 70 years (Except Central and State government Subscribers cannot open their Tier-I account.) can open a NPS account through eNPS portal. He/she should have net banking facilities with his/her banker, to use the portal successfully.

What are the models through which individuals can open an online NPS account?

An individual can start the process of registration by giving any of the following inputs:
1. Aadhaar number OR
2. PAN+KYC Verification by the empanelled POP Bank

What is the procedure for registration through eNPS?

Subscriber will visit the KFintech website https://nps.kfintech.com/ and can register through Aadhaar Number or PAN.
Through Aadhaar Number:
• If the individual provides Aadhaar number as the starting input, all his/her details like name, address etc. are captured automatically from the Aadhaar data base.
• The subscriber has to fill in all mandatory fields (such as personal details, bank details, nomination details and scheme details) and upload his/her photograph & signature. Subscriber photograph is picked up from the Aadhaar database. If subscriber desires, he/she can change the photograph.
• After completion of these steps, the subscriber is taken to the payment gateway screen, for payment of initial contribution and thereafter, the PRAN is generated.
Through PAN+KYC Verification
• In case the PAN number & Bank name is provided, the subscriber has to enter all his KYC details as per Bank records.
• The subscriber has to fill in all mandatory fields and upload his/her photograph & signature.
• After completion of these steps, the subscriber is taken to the payment gateway screen, for payment of initial contribution and thereafter, the PRAN is generated.
Subscriber will be provided option to do e-sign (through Aadhaar number) for the registration activity. If subscriber uses the e-sign option, he/she is not required to send the physical form to CRA. If subscriber has not done e-sign, subscriber should print the auto-populated form, affix photo, sign it and send it to the CRA within 90 days of generation of PRAN.

To whom should the subscriber send the printout of the filled form? By when should he/she send it?

If subscriber has not done e-sign, subscriber should print the auto-populated form, affix photo, sign it and send it to the CRA within 90 days of generation of PRAN.
The form should be sent within 90 days from the date of allotment of PRAN to CRA at the following address failing which, the PRAN will be ‘frozen’ temporarily.
Central Recordkeeping Agency,
KFintech ,
Tower – B,
Plot No 31 & 32, Selenuim Building,
Financial District, Nanakramguda,
Gachibowli, Hyderabad – 500 032,
Telangana, India

Should an NRI (Non Resident Indian) subscriber provide any additional information for registration under eNPS?

In addition to the common steps for registering in eNPS, NRI subscriber should:
• Select the Bank Account Status i.e., Non-Repatriable account or Repatriable account.
• Provide the NRE/NRO bank account details and upload scanned copy of passport.
• Select the preferred address for communication i.e., Overseas Address or Permanent Address (communication at overseas address would entail extra charges).

What will happen if my KYC verification is later rejected by my bank?

You need to take the print out of the form, affix photograph, sign it and visit the concerned bank branch along with the supporting KYC documents. Subsequently, you need to send the form to CRA after the KYC documents are stamped and verified by the Bank Branch.

Is it necessary to complete the eNPS registration process in one go? Can a subscriber save the information entered and complete the process later?

The Subscriber can complete the registration process in one go. An Acknowledgement No. is generated when the registration process is initiated. Acknowledgement No. is also sent to registered email ID of the subscriber. Information entered can be saved in between and can be completed at a later date. In order to access the details at a later date, subscriber needs to go to our eNPS website ‘https://nps.kfintech.com/Registration/‘ and click on “Complete Pending Registration” option and provide the “Acknowledgement No”.

I am already a registered subscriber. Can I use the eNPS portal to make my subsequent contributions?

All existing subscribers (registered through both online and offline mode) can contribute in Tier I & Tier II account. The subscriber should visit https://nps.kfintech.com/ and go to the ‘contribution’ page. Subscriber is required to enter PRAN and DOB details. After authentication using OTP, the subscriber can proceed to the payment gateway and make his contribution.

What other facilities are available on the eNPS portal?

The subscribers who have been registered under NPS, can use the eNPS portal to login and make the following changes:
1. Change in Scheme Preference
2. Update Address (using Aadhaar number)
3. Update email ID/mobile number
4. View Account Details/Account Statement 5. Reset of I-PIN

Who can subscriber to NPS?

All Citizens aged between 18-70 years, can join NPS.

What is the procedure for enrolling in NPS? Whom should a subscriber contact? Where can the forms be obtained from?

The Subscriber should submit a duly filled application form, along with KYC documents, bank account details, initial contribution (Rs. 500 for Tier I account & Rs. 1000/- for Tier II account) and the NCIS contribution slip, to the nodal office, i.e., any POP-SP. The forms can be obtained from the website https://nps.kfintech.com or can be collected from the POP-SP. Alternatively, the subscriber can apply online for registration, from the website https://nps.kfintech.com using either his/her Aadhaar number or PAN +KYC Verification by bank.

Is there a way for the subscriber to check the status of his application?

The subscriber can check the status of his application in the CRA website https://nps.kfintech.com using the 17-digit POP Reference number given by the POP-SP. He/she may also contact the POP-SP, to enquire about the status. Email and SMS alert would be sent to the subscriber, both on generation of PRAN and on dispatch of PRAN kit.

How much time does registration normally take?

After the registration form is submitted by a subscriber, it is forwarded to the CRA by the associated Nodal Offices (POP/POP-SP). The registration, PRAN generation and dispatch of PRAN kit is done within 10 days from the date of receipt of the application at the CRA.

What happens after successful registration? What intimation does the subscriber receive?

After successful registration, the PRAN kit (PRAN Card, Subscriber Personal details and NPS Brochure ) is dispatched to subscriber at his correspondence address.

What is PRAN?

PRAN i.e., Permanent Retirement Account Number is a unique registration number allotted to each subscriber in the CRA system. This number will remain with the subscriber as long as he is in the NPS system and will not change even if he shifts to another sector due to transfer or change of jobs etc. All transactions relating to a subscriber are identified using PRAN.

Is there a chance of the application being rejected?

Yes, the application may be rejected if the form is not filled up completely or properly or if the KYC documents are not acceptable. Rejection can happen either at the associated Nodal Office or at the CRA. Intimation of rejection is given to the associated Nodal Office and subscriber.

How should a subscriber apply for Tier II account?

A subscriber can apply for Tier II account, while applying for Tier I account, by indicating this in the application form, and by providing required bank details, PAN detail, scheme details etc. A subscriber who has already been allotted a PRAN for Tier I account, can also later apply for Tier II account, by submitting Form S10 (can be downloadable from the CRA website - https://nps.kfintech.com) to his/her associated POP-SP.

Will there be a separate PRAN for Tier II account?

No, the same PRAN applies to both Tier I & Tier II accounts.

What is the use of I-PIN & T-PIN?

Subscribers can call at CRA's toll free number 1800 208 1516 and access the Interactive Voice Response (IVR) or speak to the customer service executive using the T-PIN (Telephonic Personal Identification Number). If the subscriber is calling through his registered mobile number, T-PIN is not required. The subscribers can use the I-PIN to log into the CRA website https://nps.kfintech.com/ to check the status of any request or make further online transactions, change requests etc.

How can a subscriber ensure that the data provided by him/her during registration is updated correctly in his/her records?

The PRAN Card contains information on the PRAN, Subscribers name, father's name, photograph and signature/thumb impression. The Subscriber Personal details show all the information as provided by the subscriber in his / her application and accordingly captured in CRA system. A Subscriber can ensure that the data provided by him/her during registration is updated correctly in his/her records, by looking at the Subscriber Personal Details.

What is the procedure for online registration (eNPS)?

Any citizen of India, aged between 18-70 years, can enroll for NPS in the online portal https://nps.kfintech.com using either his/her Aadhaar number or PAN +KYC Verification. After verification using OTP, the subscriber can upload his/her photo and signature and fill in all other mandatory details and make the initial contribution online. On successful completion of all these steps, PRAN is generated online. The subscriber has to print the form and attach the necessary enclosures and send the same to the CRA, within 90 days of allotment of PRAN.

What is the procedure for online registration (eNPS) for Tier II account?

A subscriber already having a Tier I account with the CRA can register online for Tier II account, from the online portal https://nps.kfintech.com .

Can a subscriber who contributes to a Provident Fund, open an account in NPS?

Yes, the subscriber can enroll for NPS, independent of his/her contribution to any Provident Fund.

Can a subscriber who contributes to a Provident Fund, open an account in NPS?

Yes, the subscriber can enroll for NPS, independent of his/her contribution to any Provident Fund.

Can a NRI join NPS?

Yes, NRI can join NPS. The Contributions made by the NRI would be subject to RBI/FEMA guidelines.

What is the initial contribution that a subscriber should make, while applying for registration in NPS?

The subscriber should make an initial contribution of at least Rs. 500/- for Tier I account and Rs.1000/- for Tier II account.

What is the initial contribution that a subscriber should make, while applying for registration in NPS?

The subscriber should make an initial contribution of atleast Rs.500/- for Tier I account and Rs.1000/- for Tier II account.

How can a subscriber make his/her contributions to NPS, after registration?

1. Subscribers can make their contributions to Tier I or Tier II accounts, by depositing the contribution amount with their associated POP-SP, along with a NCIS (NPS Contribution Instruction Slip), giving details of PRAN. They may contact their POP-SP regarding the mode of payment (Cheque/Net banking etc.)
2. They may also transfer the contribution online using the eNPS link- https://nps.kfintech.com/

What is the minimum contribution that a subscriber should make for Tier I & for Tier II accounts? How many contributions should be made?

A subscriber is required to make atleast one contribution to his Tier I account in each financial year and a minimum total contribution of Rs.1000/- per financial year. Minimum amount per contribution is Rs. 500/-. Minimum contribution of 250/- per transaction is required for Tier II account for all subscribers.

What will happen if the minimum contribution is not made? If minimum contribution has not been made in Tier I account, can a subscriber continue to operate Tier II account?

The subscriber’s account would be “frozen”, i.e., further transactions will not be allowed in his/her Permanent Retirement Account. If Tier I account is frozen, Tier II account also automatically stands frozen.

When will the units be credited to the Subscriber's account?

Units will be allotted only after funds are reconciled by bank. Generally, it takes 2-3 working days by which Trustee Bank reconciles the funds and provides the confirmation.

Once registered, how can a subscriber change his details registered with the CRA?

A subscriber can make a request for changes or corrections in his PRAN details by submitting Form S2 to his/her Nodal office . Alternatively, subscriber can also perform the below changes by logging into our website https://nps.kfintech.com/ : 1. Request for Change in Scheme Preference
2. Update Address (using Aadhaar number)
3. Update email ID/mobile number
In addition, the subscriber can also reset his/her I-PIN.

What are the PRAN details that can be changed by a Subscriber?

A Subscriber can make a request for: - Changes in personal details (address/phone number/signature/photograph etc.), bank details, nomination details etc. - Changes in PFM/PFM Scheme (only for Tier II Accounts) - Changes in Investment Option (“Auto”/ “Active” - only for Tier II Accounts) - Change in Sector (Government/All Citizen/Corporate)

From where can a subscriber obtain the Change request forms? What are the forms for different types of change requests? To whom should the subscriber submit the request forms?

The forms can be downloaded from the CRA website https://nps.kfintech.com/ or can be obtained from the DDO/ DTO /PAO office.
Sr No.	Change Type	Form No.	To be Submitted to
1	Change in PFM/Scheme (only for Tier II)	Form (AC)S3 (to be submitted along with a copy of the PRAN)	The POP/POP-SP with which the Tier II account of the subscriber is registered
2	Change in Investment Option (only for Tier II)
3	Change in Asset allocation % (only for Tier II)
4	One Way switch request
5	Change of POP (only for Tier II)	Form (AC)S5	To the Target POP/POP-SP
6	Change of POP-SP (only for Tier II)	Form (AC)S5	To the Target POP/POP-SP
7	Change in personal or nomination details or request for Reprint of PRAN card	From S2	To the associated DDO/DTO/PAO
8	Change in Photograph and /or Signature	Form S7	To the associated DDO/DTO/PAO

What happens after a subscriber submits the change request to his POP/POP-SP?

• The Nodal Office (i.e., DDO/ PAO/ DTO ) will receive the change request application and provide an acknowledgement to the subscriber. • DTO/ PAO/ DDO will verify and make the changes in the CRA system, using their login. If the form is rejected for any reason, the DDO/ PAO/ DTO will provide reason for rejection and will also provide guidelines to submit a correct application.

Can a subscriber change the PFM or scheme preferences for both Tier I and Tier II accounts?

A Government sector subscriber can change the PFM/scheme preferences/asset allocation percentages - twice in a year, for only Tier II account. Please refer PFRDA Circular dated March 1, 2017 in this regard. Same can be downloaded from our website https://nps.kfintech.com.

For Tier II account, how can a subscriber change the POP-SP with which he/she is registered?

• The Subscriber will submit an application in the prescribed form (Form AC S5) to the new POP/POP-SP, along with a copy of the PRAN card.
• The POP/POP-SP will provide an acknowledgement to the subscriber. • POP/POP-SP will verify the details and submit request for POP/POP-SP in the CRA system, using their login.
If request is rejected, POP/POP-SP will provide the reason for rejection and will also provide guidelines to submit a correct application form.

Once the POP/POP-SP has been changed, where should the subscriber direct further requests?

On successful change of POP/POP-SP, the subscriber should direct further requests to the target POP/POP-SP.

How can a subscriber change personal details, bank details or nomination details?

For change in personal, bank or nomination details or request for Reprint of PRAN card, the subscriber has to submit S2 Form to the associated DDO/ DTO/ PAO.

Are there any restrictions on making change requests?

If there is any pending request which have been captured in the CRA system for a Subscriber, Nodal office (DDO/DTO.PAO) will not be allowed to update any changes.

How can a subscriber apply for re-issue of T-PIN/I-PIN? Is this service chargeable?

Subscriber can visit KCRA website https://nps.kfintech.com/ to generate the I-PIN. Alternatively, subscriber can call KCRA Toll Free Number 1800 208 1516.

How can a subscriber apply for reprint of PRAN Card? Is this service chargeable?

The subscriber should submit Form S2 to his/her associated DDO/DTO/PAO. This request will be raised by the DTO/PAO in the CRA system. CRA will print and dispatch the PRAN card to subscriber’s correspondence address.

How can a subscriber request for change in photograph or signature?

The subscriber should submit Form S7 to the associated DDO/DTO/PAO. DTO/PAO will submit the physical request to CRA Branch for updation of photograph and signature.

What should a subscriber do, in case he is shifted to a different sector, due to change in employment, transfer or resignation?

The Subscriber has to submit Form ISS along with a copy of the PRAN Card to the new DDO/ DTO/ PAO/ POP/ POP-SP for shifting.

Are there any additional documents to be submitted, in case a subscriber is shifting from Government sector to UOS (Unorganized sector i.e., All Citizens/ Corporate model)?

In case of shifting from State/Central Government sector to All Citizens Model, • The subscriber should enclose KYC documents for verification The subscriber should also indicate selection of PFM, Investment option and asset allocation, as applicable to the All Citizen Model.

In case a subscriber shifts from one nodal office to another, within the Central Government or same State Government, what should he do, to update the change in CRA records?

In this case, the subscriber need not submit any separate request. The change is incorporated when the new nodal office uploads his contribution details.

What are the requests that can be made by the subscriber online? Can he/she request for a Statement of Account?

The Subscriber can make the following changes online, from the CRA website, using his I-PIN: 1. Change in Scheme Preference (for Government employees- only for Tier II)
2. Update Address (using Aadhaar number)
3. Update email ID/mobile number
4. View Account details or request for Statement of Account.
In addition, the subscriber may also raise a request for resetting I-PIN.

What is "Statement of Transaction"?

A Statement of Account is a record of all transactions relating to the subscriber including contributions received, investments, NAV, CRA charges, unit balances etc. The subscriber can view his/her account statement at any time, by logging into the CRA website, using his I-PIN.

How can a subscriber request for a duplicate Statement of Transaction?

The subscriber may request for a duplicate SOT in any of the following ways:
1. The subscriber can also login into the CRA website https://nps.kfintech.com/ using his/her I-PIN and view/print his/her statement, at any time.
2. The subscriber may approach his/her associated DDO/DTO/PAO and make a request for the SOT. The DDO/DTO/PAO can download the same and provide the same to the subscriber.
3. The subscriber may call the Toll Free Number 1800 208 1516 of KFintech CRA customer care and make such request through IVR. Subscriber account statement will be sent to him by email.

How can a subscriber register his/her grievance or complaint?

A subscriber can register a grievance or complaint in the following ways:
1.Through Call Centre (Toll Free No- 1800 208 1516)- IVR, using T-PIN
2. Through the KCRA website https://nps.kfintech.com using I-PIN or
3. By submitting physical Form G1 to KCRA

What happens when a subscriber registers a grievance?

An 15-digit token number is generated by the KCRA system and intimated to the subscriber through email/SMS. Intimation of the grievance is also sent through email to the concerned party against whom the grievance is raised. The same is flagged in their system as "Pending" and will be resolved by them.

Is there any escalation mechanism for escalating unresolved grievances?

There are two levels of escalation. All grievances that are unresolved for more than the prescribed time will automatically be escalated to the first level.

How will a subscriber know if his/her grievance has been resolved?

Email intimation will be sent to the user along with the resolution details and the grievance status will be updated as "Resolved" in the KCRA website. The status can be checked by the subscriber at any time, using the "Token no." reference.

In case a subscriber is not satisfied with the resolution provided, what are the options available to him?

If the subscriber is not satisfied with the resolution provided, he/she may re-open the grievance. Further, if a grievance has not been resolved or has not been satisfactorily resolved by any intermediary system within 30 days from the date of lodging the grievance, the subscriber can escalate his grievance to the NPS Trust. He/she may make an appeal to the Ombudsman thereafter, if he/she is not satisfied with the resolution provided by the NPS Trust.

Who is a NPS Ombudsman?

The NPS Ombudsman is a senior official appointed by the PFRDA to redress customer complaints against deficiency in NPS services covered as per Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015.

When can file a complaint?

If the complainant is not satisfied with the redressal of his grievances or if it has not been resolved by the intermediary by the end of thirty days of the filing of the complaint, complainant may escalate the grievance to the National Pension System Trust in accordance with the provisions contained in regulation 10. If the grievance remains unresolved after its receipt at the National Pension System Trust, on the expiry of a period of thirty days from the receipt thereof, the complainant may file a representation with the Ombudsman to be appointed by the Authority.

What is the procedure for filing the complaint before the Banking Ombudsman?

One can file a complaint with the NPS Ombudsman simply by writing on a plain paper.

What are the general powers and Functions of Ombudsman?

The Ombudsman shall have the following powers and functions to-
• receive complaints as specified in these regulations against any intermediary or entity and to consider such complaints and facilitate resolution thereof by amicable settlement;
• approve a friendly or amicable settlement of the dispute between the parties;
• adjudicate such complaints in the event of failure of settlement thereof by friendly or amicable manner

Where can one lodge his/her complaint?

One may lodge his/ her complaint at the below office of the NPS Ombudsman:
Pension Fund Regulatory & Development Authority (PFRDA)
B-14/A, Chhatrapati Shivaji Bhawan, Qutab Institutional Area
Near Katwaria Sarai, New Delhi – 110016

Is there any cost involved in filing complaints with Banking Ombudsman?

No. The NPS Ombudsman does not charge any fee for filing and resolving customers’ complaints.

What details are required in the application?

Key details to be captured for filing of grievances with the Ombudsman are:
1. Name, address, contact number and e-mail address of the complainant
2. Permanent Retirement Account Number (PRAN), if available
3. CRA/POP/Other Intermediary/Other Pension Scheme Acknowledgement Reference Number (in case of reminder)
4. Nature of complaint type/category
5. Dates and details of earlier correspondence with the intermediary under National Pension System or any other pension scheme.
6. Dates and details of correspondence of escalation of grievance with the National Pension System Trust
7. Enclosures, if any.

FAQs

When can a Government subscriber exit/withdraw from NPS before attaining the age of superannuation or 60?

Pre-mature withdrawal is allowed for Central/State Government sector subscribers on voluntary retirement or exit from service before superannuation.

If a subscriber is eligible and applies for pre-mature withdrawal, what will happen if his/her age is less than the minimum age requirement for purchasing any approved annuity from an ASP?

If the accumulated pension wealth of the subscriber is more than Rs. 2.5 lakh, but the age of the subscriber is less than the minimum age required for purchasing any annuity from any of the empanelled ASPs as chosen by the subscriber, such subscriber shall continue to remain in NPS, until he or she attains the age of eligibility for purchase of any annuity.

How can a subscriber make a request for withdrawal on superannuation or pre-mature withdrawal?

A subscriber can raise a request for withdrawal on superannuation (or on attaining the age of 60) or for withdrawal before superannuation (Pre-mature exit) in the following ways:
1. By submitting a request in physical form to the Nodal Office(DDO), with necessary enclosures
2. By raising an online request in the CRA website, using his/her I-PIN and submitting the auto-populated physical form to the Nodal Office.

If a subscriber wishes to make a withdrawal request (W/d on Superannuation or Pre-Mature W/D), by submitting a physical form, what form should be used? Where can the Subscriber find the forms? To whom should the form be submitted?

The subscriber should submit the Withdrawal request forms (as given below) to his/her DDO:
- Withdrawal on Superannuation Form
- Pre-mature withdrawal (On voluntary retirement/exit before superannuation) Form
The forms can be downloaded from the CRA website https://nps.kfintech.com

What documents should be enclosed along with the withdrawal request for withdrawal on superannuation?

The following documents should be enclosed along with the request for withdrawal on Superannuation:
1. Proof of address
2. Proof of identity
3. Cancelled cheque /Bank Certificate /Copy of passbook with the subscriber photograph (KYC Certificate suffice for Bank proof in case of Govt. employees)
4. Advance Stamp Receipt
5. Request Cum Undertaking Form (If subscriber is having a corpus of less than Rs. 5 lakhs)

What documents should be enclosed along with the withdrawal request for withdrawal before superannuation (Pre-mature exit)?

The following documents should be enclosed along with the request for pre-mature withdrawal:
1. Proof of address
2. Proof of identity
3. Cancelled cheque /Bank Certificate /Copy of passbook with the subscriber photograph (KYC Certificate suffice for Bank proof in case of Govt. employees)
4. Advance Stamp Receipt
5. Request Cum Undertaking Form (If subscriber is having a corpus of less than Rs. 2.5 lakh)

What documents should be enclosed along with the withdrawal request for withdrawal by nominee(s) on the death of a subscriber?

The following documents should be enclosed by the nominees, along with the request for withdrawal on death of a subscriber:
1. Proof of address
2. Proof of identity
3. Cancelled cheque /Bank Certificate /Copy of passbook with the claimant photograph
4. Advance Stamp Receipt
5. Copy of Death Certificate
6. No Objection Certificate for family pension
7. Request Cum Undertaking Form (If subscriber is having a corpus of less than Rs. 5 lakhs)
8. Non-IRA compliance Certificate if subscriber is non IRA compliant

Can a subscriber change his nominees at the time of withdrawal request?

The subscriber should specify the nomination details in the Withdrawal request. He/she can nominate a maximum of 3 people. The nomination percentage shares between the nominees should add upto 100 and should not be in integers/fractional values.

What is claim ID?

A claim ID needs to be generated in the CRA system, to enable raising/processing of withdrawal requests in the CRA system. For withdrawal on attaining the age of 60 or superannuation - a claim ID is generated by the CRA 6 months prior to the date of a subscriber's superannuation For pre-mature withdrawal or withdrawal by legal heirs on death of a subscriber - a claim ID is generated when the concerned Nodal Office (DDO/DTO/PAO) raises a request for the same in the CRA system. A subscriber can raise an online request for withdrawal only after a claim ID is generated. In case of pre-mature withdrawal, he/she has to contact the Nodal Office for generation of Claim ID, before raising an online request.

Where a subscriber wants to withdraw on attaining the age of 60 or superannuation, can he/she make a withdrawal request in advance?

A subscriber who wishes to withdraw on attaining the age of 60 or superannuation can make a withdrawal request at any time after the generation of Claim ID, upto 6 months before the superannuation date. However, the Withdrawal request will be processed only after completion of Superannuation age/ Date of Retirement (as per the CRA records).

In case a subscriber is withdrawing from NPS on attaining the age of 60 or superannuation, how should his employer settle his last month contribution?

Contribution deductions under the NPS made by the employers from the salary of such subscriber shall be stopped at least one months prior to the date of superannuation, as may be applicable, to ensure that the exit and withdrawal of the subscriber is smooth and effective. The employer shall settle directly the said last one month contributions at their end with the concerned employee.

Can a subscriber withdraw the entire accumulated wealth as lump-sum, for withdrawal on superannuation or pre-mature withdrawal?

Withdrawal on superannuation (or on attaining the age of 60): The Subscriber can withdraw a maximum of 60% of the pension wealth as lump-sum and is required to transfer a minimum of 40% of the pension wealth to Annuity. Where the accumulated pension wealth is less than Rs.5 lakhs, the entire amount can be withdrawn as lump-sum.
Withdrawal before superannuation (Pre-mature exit) - The Subscriber can withdraw a maximum of 20% of the pension wealth as lump-sum and is required to transfer a minimum of 80% of the pension wealth to Annuity. The subscriber should mention the allocation percentages for the amount to be withdrawn as Lump-sum and the amount to be used to purchase life annuity, in the withdrawal request. Where the accumulated pension wealth is less than Rs.2.5 lakh, the entire amount can be withdrawn as lump-sum.

When can a subscriber withdrawing on attaining the age of 60 or superannuation, withdraw the entire pension wealth as lump-sum and not purchase any annuity?

When can a subscriber withdrawing on pre-mature exit, withdraw the entire pension wealth as lump-sum and not purchase any annuity?

Where the accumulated pension wealth in the Permanent Retirement Account of the subscriber is equal to or less than Rs.2.5 lakh, the subscriber shall have the option to withdraw the entire accumulated pension wealth without purchasing annuity (and hence shall not receive any pension).

Who should make a withdrawal request in case of a subscriber's death? What will happen if there is more than one nominee?

In the event of a subscriber's death, all the registered nominees or Legal heirs should jointly submit the withdrawal request.

In the event of a subscriber's death, how will the subscriber's accumulated pension wealth be paid out to the nominees - i.e., as lumpsum or in annuities? Can the nominees receive the entire pension wealth as lump-sum?

In the event of a subscriber's death, the entire accumulated pension wealth will be paid to the nominees/legal heirs as lump-sum.

On the death of the subscriber, how should the nominees/legal heirs make a withdrawal request? What form should be used? To whom should the form be submitted? Can a W/D request be made online?

In the event of a subscriber's death, all the registered nominees or legal heirs (including the guardian(s) of any minor nominee(s)) should jointly submit the withdrawal request, to the subscriber's DDO. The form can be downloaded from the CRA website https://nps.kfintech.com. Online submission of withdrawal request cannot be done by the nominee(s)/legal heir(s) in the event of withdrawal on death of a subscriber.

Can a subscriber make an online request for withdrawal?

Yes, the subscriber has the option to make an online request for withdrawal from the CRA website, using his/her I-PIN. This option is not available to the nominees/legal heirs, for withdrawal on death of a subscriber. After submission of an online request, the subscriber should print the auto-populated form, paste his/her photograph, attest the photo, sign the form and get witness signatures and submit the form with the enclosures (as selected while filling the form) to his/her Nodal Office.
A claim ID must have been generated in the CRA system, before the subscriber can make an online request. The subscriber should contact his/her Nodal office for generation of claim ID, in case the same has not been generated already (eg. in case of pre-mature withdrawal).

How are the withdrawal proceeds paid out to the subscriber?

The lump-sum withdrawal amount is credited to the subscriber's bank account through electronic mode (RTGS/NEFT) and the amount annuitized is transferred to the ASP selected by the subscriber. Monthly payout of pension to the subscriber will be done by the ASP.

Who is ASP?

ASP is an acronym for Annuity Service Provider whose functions include: a. Receipt of funds from Trustee Bank and instructions from CRA, for investment in annuity for subscribers, on withdrawal b. Payment of monthly annuity/pension to the subscribers

Can a subscriber who is withdrawing from NPS on attaining the age of superannuation, choose the Annuity contract that he wishes to purchase?

For Government sector subscribers, the default annuity contract provides for:
a. Annuity for the life of the subscriber or spouse (if any) - (with provision for return of purchase price);
b. On demise of the subscriber, return of purchase price of the annuity - to be used for purchase of annuity (at a premium rate prevailing at the time of such purchase) for other family members in the order of:
i. living dependent mother of the deceased subscriber and
ii. living dependent father of the deceased subscriber - until all are covered.
Thereafter, the purchase price to be returned to the surviving children or legal heirs of the subscriber.
A Subscriber who is withdrawing on attaining superannuation, who wishes to opt out of the default option and choose a different annuity contract, shall be required to specifically opt for such option.

Can a subscriber who is withdrawing from NPS before attaining the age of superannuation (premature exit), choose the Annuity contract that he wishes to purchase?

For Government sector subscribers who wish to withdraw before attaining the age of superannuation, the default annuity contract applies, which provides for:
a. Annuity for the life of the subscriber or spouse (if any) - (with provision for return of purchase price);
b. On demise of the subscriber, return of purchase price of the annuity - to be used for purchase of annuity (at a premium rate prevailing at the time of such purchase) for other family members in the order of:
i. living dependent mother of the deceased subscriber and
ii. living dependent father of the deceased subscriber - until all are covered.
Thereafter, the purchase price to be returned to the surviving children or legal heirs of the subscriber.
A Subscriber who is withdrawing on attaining superannuation, who wishes to opt out of the default option and choose a different annuity contract, shall be required to specifically opt for such option.

What is Annuity?

Annuity is the fixed monthly income that a subscriber will get against the corpus invested with the Annuity Service Provider (ASP) at the time of withdrawal. The monthly annuity pension depends on the corpus amount, annuity scheme selected etc.

When can a subscriber opt for deferment of Withdrawal?

a. A Subscriber exiting NPS on account of Superannuation can opt for deferring the Withdrawal of his/her lump sum share (maximum 60%) until he/she attains the age of 70 years.
b. In such cases, the subscriber should intimate his or her intention to do so in writing in the specified form at least fifteen days before the attainment of age of superannuation and agree to bear the transaction/maintenance charges levied by all the NPS intermediaries (CRA, PFM etc.) for maintaining the PRAN.

Can a subscriber who has attained the age of 60 or superannuation, defer purchasing the annuity?

Subscribers exiting NPS on account of Superannuation can defer the purchase of Annuity for a maximum period of 3 years (minimum 40% is to be invested with ASP for purchase of Annuity) In such cases, the subscriber should intimate his or her intention to do so in writing in the specified form at least fifteen days before the attainment of age of superannuation and agree to bear the transaction/maintenance charges levied by all the NPS intermediaries (CRA, PFM etc.) for maintaining the PRAN.

When is the option of deferring the purchase of annuity not available to a subscriber?

A subscriber will not have the option of deferring the purchase of annuity:
- In case of pre-mature withdrawal or
- In case of withdrawal on attaining the age of 60 or superannuation, if he/she does not intimate his or her intention to do so in writing in the specified form at least fifteen days before the attainment of age of superannuation to the NPS Trust or CRA

What will happen in the event of death of a subscriber who has deferred the purchase of annuity?

In case a subscriber opts for deferment of purchase of Annuity, in case the death of the subscriber occurs before such due date of purchase of an annuity after the deferment, the annuity shall mandatorily be purchased by the spouse (if any) providing for:
i. Annuity for the life of the spouse;
ii. On demise of the spouse, return of purchase price of the annuity - to be used for purchase of annuity (at a premium rate prevailing at the time of such purchase) for other family members in the order of:
1. living dependent mother of the deceased subscriber and
2. living dependent father of the deceased subscriber. (until all are covered)
Thereafter, the purchase price to be returned to the surviving children or legal heirs of the subscriber.

What will happen in the event of death of a subscriber who has deferred the purchase of annuity?

Can a subscriber partially withdraw from his NPS account, while continuing to maintain and contribute to the account?

Partial withdrawal of upto 25% of the subscriber’s contribution (not Employer’s contribution) is allowed under certain specific circumstances (eg. Purchase of house, higher education of children etc.) as per the PFRDA regulations, provided the subscriber has been in the National Pension System for atleast 3 years. Such withdrawal is allowed only for a maximum of 3 times during the entire tenure of subscription under the NPS.

What happens to the balance in a subscriber's Tier II account, on withdrawal from Tier I account?

Tier-II account shall stand automatically closed at the time of exit of the subscriber from the National Pension System, even if an application so specified for the purpose has not been received from the subscriber, and the accumulated wealth in such account shall be transferred to the bank account provided by the subscriber, while submitting his application for exit from the National Pension System.

When and how can a subscriber withdraw from his Tier II account, without withdrawing from Tier I account?

A subscriber having a valid and active Tier-II account of the Permanent Retirement Account can withdraw the accumulated wealth either in full or part, at any time. The subscriber should submit a duly filled Form S 12 to his POP-SP for doing so. There is no limit on such withdrawals as long as the account has sufficient amount of accumulated pension wealth to take care of the applicable charges and the withdrawal amount. The form can be downloaded from the CRA website https://nps.kfintech.com.

Can a subscriber check the status of his/her withdrawal request?

The subscriber will receive SMS/Email alerts:
- at the time of generation of claim ID
- at the time of acceptance of request
- on closure, intimation of funds transferred to the subscriber's bank account/ASP.
The subscriber and the Nodal Office (DDO/DTO/PAO) can check the withdrawal status at any time, from the CRA Website https://nps.kfintech.com.

What are the documents that can be submitted as proof of identity and proof of address?

Below documents can be accepted as Proof of Identify and Proof of Address:
Sr No.	Proof of Identity (Copy of any one of the given below document)	Proof of Address (Copy of any one of the given below document)
1	KYC Certification - Annexure I [only for Govt. employees and in NPS Lite -GDS subscribers (Department of Posts]	KYC Certification - Annexure I [only for Govt. employees and in NPS Lite -GDS subscribers (Department of Post]
2	Passport issued by Government of India	Passport issued by Government of India
3	Ration card with Photograph	Ration card with Photograph and residential address
4	Bank Passbook or certificate with photograph	Bank Passbook or certificate with photograph and residential address
5	Voter identity card with photograph and residential address	Voter identity card with photograph and residential address
6	Valid driving license with photograph	Valid driving license with photograph and residential address
7	PAN Card issued by Income tax department	Letter from any recognized public authority at the level of Gazette officer District Magistrate, Divisional commissioner, BDO, Tehsildar, Mandal Revenue Officer, Judicial Magistrate etc.
8	Certificate of Identity with photograph signed by a Member of Parliament or Member of Legislative assembly	Certificate of Address with photograph signed by a Member of Parliament or Member of Legislative assembly
9	Aadhaar card / letter issued by Unique Identification Authority of India	Aadhar card / letter issued by Unique Identification Authority of India clearly showing the address
10	Job cards issued by NREGA duly signed by an officer of State Government	Job cards issued by NREGA duly signed by an officer of State Government
11	Photo Identity card issued by Government, Defence, Parliamentary and Police Departments	Latest Electricity/ water bill in the name of the Subscriber/ Claimant and showing the address (less than 6 months old)
12	Ex-Service man card issued by Ministry of Defence to their employees	Latest Telephone bill in the name of the Subscriber / Claimant showing the address (less than 6 months old)
13	Photo Credit card	Latest Property/ house tax receipt (not more than 1 year old)
14	Identity card issued by Central/ State Government and its Departments, Statutory / Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities and Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc.	Existing valid registered lease agreement of the house on Stamp paper (in case of rented / leased accommodation)
15	-	Central/ State Government and its Departments, Statutory / Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institution for their employees

What are some of the reasons why a withdrawal request could be rejected for a Government Subscriber?

Some reasons why a withdrawal request could be rejected are:
1. KYC documents (Photo-ID Proof and Address Proof) not attested by DDO/DTO/PAO.
2. Name provided in the Withdrawal form is different from the name provided in the KYC documents (Photo ID and address proof).
3. Address mentioned in the Withdrawal form is different from the Address Proof provided.
4. ‘Date of Retirement’ mentioned on the Withdrawal form does not match with date mentioned on the DDO covering letter. Hence, DDO/DTO/PAO confirmation is required for correct Date of Retirement. 5. Withdrawal fund allocation percentage not provided in the Withdrawal form.
6. Nomination details/Witness (to nomination) details not provided in the Nomination form.
7. Bank Details not provided
8. Photograph is not ‘self-attested’ by the subscriber/claimant.
9. In case of death, Withdrawal request is not submitted by the registered nominee as per the CRA system.

What is the role of CRA in processing withdrawal requests?

The CRA will: 1. Receive the withdrawal request (online)
2. Process the Withdrawal request as per PFRDA regulations
3. Send instructions to the PFMs for transfer of funds to the Trustee Bank (TB);
4. Send instructions to the TB for transfer of the lump-sum withdrawal amount to the subscriber's bank account and
5. Send instructions to the TB to transfer the amount to be annuitized, to the ASP.
6. Update the status of the withdrawal request in the CRA system, which can be checked by the subscriber/Nodal Office from the CRA website
7. Send email/SMS alerts on generation of claim ID, acceptance of request, rejection, successful processing etc.
Point nos. 3, 4 and 5 is part of the daily settlement process run by the CRA.

How much time does it normally take, for a withdrawal request to be processed?

The lumpsum amount will be transferred to the Subscriber's bank account on the 4th working day after the Nodal Office authorizes the withdrawal request in the CRA system.

Is it mandatory for a subscriber to exit from NPS on attaining the age of 60 or superannuation? Is there an option to continue to contribute for some more time?

The subscriber can continue to subscribe to the National Pension System beyond the age of superannuation, by intimating in writing that he would like to contribute to his pension fund. When a subscriber opts for continuing to subscribe to Tier I account beyond the age of superannuation years, the same position continues for Tier II account also. Such subscribers will have access to all the normal facilities like access to CRA System, change of PFM/scheme etc. On option such service, subscriber will be shifted to All Citizen model on attainment of superannuation age. Subscriber has to bear the NPS related charges. Subscriber can exit at any time after the age of 60, even if he has given any such intimation.

FAQs

How can a subscriber make his/her contributions to NPS, after registration?

The contributions for Tier I account, are deducted from the salary and paid into the subscriber’s account by the employer, along with the employer’s contribution.
2. Subscribers can make their contributions to Tier II account, by depositing the contribution amount with their associated POP-SP, along with a NCIS (NPS Contribution Instruction Slip), giving details of PRAN etc. They may contact their POP-SP regarding the mode of payment (Cheque /Net banking etc.)
3. They may also transfer the contribution for Tier II account or any additional contribution to Tier I account - online, using the e NPS link- https://nps.kfintech.com.

What is the minimum contribution that a subscriber should make, for Tier I & for Tier II accounts? Is there any minimum number of contributions?

In Tier I, the contribution is fixed at 10% of Salary (Basic+DA), along with contribution from the employer. Minimum contribution of Rs. 250 is required for Tier II account, for all subscribers.

What is “Re-balancing of Units”?

The contributions received for a subscriber are invested in the Pension Funds selected by him/her.
Active Choice: In case the subscriber chooses “Active choice” investment option and indicates the percentage mix of investment across different categories – (E, C, G & A), the contributions are invested in the same ratio/percentage. However, due to changes in NAV for each category, the value of pension wealth may not be in the same percentage. Therefore, at the end of every year, the asset allocation percentages are calculated on the pension wealth as on date and units are purchased/redeemed in each category, so that the selected percentage share is maintained.
Auto Choice: Rebalancing is also done for “Auto Choice” Investment Option, to comply with the changes in asset allocation percentages applicable to the subscriber, with the change in his/her age every year.

What are NPS Charges?

Below are the applicable fees and charges levied on NPS Subscribers:
Intermediary	Charge head	Service Charges
KFintech CRA	PRA Opening charges	Rs 39.36
	Annual PRA Maintenance cost per account	PRs 57.63
	Charge per transaction	Rs 3.36
Custodian	Asset Servicing charges	0.0032% p.a for Electronic segment & Physical segment
PF charges	Investment Management Fee	0.01% p.a.
NPST	Reimbursement of Expenses	0.005% p.a

What are CRA charges?

CRA’s charges would include the charges levied by the CRA for opening NPS account, annual maintenance of the account, processing contribution, change requests, withdrawal requests, sending Statement of Account and other requests like re-print of PRAN card etc.

How will the CRA charges be levied?

CRA charges are borne separately by the employer.

What are the transactions that can be done online by a subscriber?

The Subscriber can make the following transactions online, from the CRA website, using his I-PIN: 1. Request for Change in Scheme Preference
2. Update Address (using Aadhaar number)
3. Update email ID/mobile number
4. View Account details or request for Statement of Account.
Subsequent contributions also can be made by the subscriber through e NPS.

FREQUENTLY ASKED QUESTIONS

Subscriber

Nodal Officer

All Citizens