National Pension System FAQs

Can a subscriber open more than one NPS account?

No

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Is it mandatory to open Tier-II account at the time of opening a Tier 1 account

No

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Can a subscriber open only a Tier-II account?

No

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How many funds are there in NPS?

NPS offers 4 fund choices to subscribers:

a. Equity

b. Corporate Debt

c. Government Securities

d. Alternate Investment fund

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Is there any guaranteed returns provided under NPS?

NPS returns are market linked and there are no guaranteed returns

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Can the subscriber change the fund allocation pattern under Active Choice?

Yes. Subscriber can switch the asset allocation pattern under Active Choice twice in a financial year.

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Can a Subscriber switch between Active Choice and Auto Choice?

Yes. Subscriber gets this flexibility. This can be done twice in a financial year

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If a Subscriber is under Active Choice and have changed the fund allocation in a particular year and wants to switch from Active Choice to Auto Choice, can this be allowed?

Yes, once in a financial year

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Is there any restriction on frequency of contribution?

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.

However, in corporate model the Corporate normally decides on Monthly contribution

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Can Subscriber increase or decrease the contribution amount in subsequent years?

Yes, NPS offers this flexibility. Subscribers are allowed to alter the contribution amount as per the suitability.

In a Corporate model the same is normally decided by the Corporate and the flexibility depends on a Corporate to Corporate basis

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Does Subscriber get any alert on credit of contribution amount to his / her NPS accounts?

Yes, both SMS and Email alert is sent once the contribution is credited to Subscriber’s NPS account

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Can a Subscriber request for a duplicate PRAN Card?

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

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Does Subscriber get any physical statement for NPS account?

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

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My account is frozen. How to unfreeze?

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.

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I have a NPS account in the Individual model. I wish to get it get mapped to the corporate model of my company. Please guide me on the same?

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”.

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I wish to change my Pension fund manager. Please guide me on the process to be followed for the same?

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

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I wish to update my bank a/c details on fund manager. Please guide me on the process to be followed for the same?

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”.

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I want my account statement. Please provide the same?

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.

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I am an NRI. Can I submit the FATCA form online?

NRIs cannot submit their FATCA online. They have to submit the physical copy of their respective FATCA declaration forms to NSDL.

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I have applied for NPS account online through eNPS. However the account has got frozen though I have been regularly depositing money in my account?

Your account can be freezed for the following reasons:

Not signed the eNPS application digitally via OTP in case you have applied on the basis of Aadhar no.
ii. Non submission of the application documents at NSDL in case you have applied on the basis of PAN no.
iii. Non submission of the of the KYC documents for verification at the Bank where you have the savings account in case you have applied on the basis of PAN no.
Please click on to the below mentioned link for any other NPS related frequently asked queries.

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Is partial withdrawal allowed from Tier I NPS Account?

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

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What happens if I retire early?

Yes there is a provision of withdrawal in case of early withdrawal

It allows the option of withdrawing 20% of Lump sum and the remaining 80% in Pension. The entire 20% lump sum withdrawal is exempted from tax.
This option can only be exercised provided the subscriber has 10 years of continuous contribution.

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What are the options once I reach my Retirement age?

You have the option of withdrawing 60% Lump sum. However, only 40% of it would be exempted from tax

Also there is now an option of withdrawing the lump sum in 10 Annual installments or defer till age 70.
The remaining 40% has to compulsorily be in Pension

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Can a Subscriber change the annuity service provider?

No

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Can a Subscriber use 100% of accumulated wealth to buy annuity plan?

Yes. Subscriber can use 100% of accumulated wealth to buy annuity plan

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In case of death of Subscriber, what happens to the annuity plan bought by her?

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

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National Pension System (NPS) FAQs

Frequently Asked Questions

Can a subscriber open more than one NPS account?

Is it mandatory to open Tier-II account at the time of opening a Tier 1 account

Can a subscriber open only a Tier-II account?

How many funds are there in NPS?

Is there any guaranteed returns provided under NPS?

Can the subscriber change the fund allocation pattern under Active Choice?

Can a Subscriber switch between Active Choice and Auto Choice?

If a Subscriber is under Active Choice and have changed the fund allocation in a particular year and wants to switch from Active Choice to Auto Choice, can this be allowed?

Is there any restriction on frequency of contribution?

Can Subscriber increase or decrease the contribution amount in subsequent years?

Does Subscriber get any alert on credit of contribution amount to his / her NPS accounts?

Can a Subscriber request for a duplicate PRAN Card?

Does Subscriber get any physical statement for NPS account?

My account is frozen. How to unfreeze?

I have a NPS account in the Individual model. I wish to get it get mapped to the corporate model of my company. Please guide me on the same?

I wish to change my Pension fund manager. Please guide me on the process to be followed for the same?

I wish to update my bank a/c details on fund manager. Please guide me on the process to be followed for the same?

I want my account statement. Please provide the same?

I am an NRI. Can I submit the FATCA form online?

I have applied for NPS account online through eNPS. However the account has got frozen though I have been regularly depositing money in my account?

Is partial withdrawal allowed from Tier I NPS Account?

What happens if I retire early?

What are the options once I reach my Retirement age?

Can a Subscriber change the annuity service provider?

Can a Subscriber use 100% of accumulated wealth to buy annuity plan?

In case of death of Subscriber, what happens to the annuity plan bought by her?