NPS Statement - How to Download Your NPS Transaction Statement

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How to Download NPS Transaction Statement

What is the NPS Statement?

NPS, or National Pension System, is a retirement-savings plan designed to save the account holder’s retirement money. It allows you to build a corpus to receive a regular income even after retirement. An NPS statement is a document showcasing different transactions of your retirement account. The NPS statement download procedure depends on the method you prefer. For instance, if you open your account through a POP, you may request your statement from the POP Service Provider. However, if you want to access it online, you can use the eNPS account portal.

Primarily, there are three types of NPS account statements:

Transaction statements
Holding statements
Voluntary contribution statements

You can use the NPS statement as an investment proof when claiming tax benefits. It also gives information about investment schemes, fund allocation, etc. So, knowing how to download NPS receipts and statements for your account is crucial.

NPS Transaction Statement Essentials

Depending on your request, the NPS statement shows your current holdings, history of gains, contributions, withdrawals, unit allocation, value of investments, etc., in your account. After opening an NPS account, the CRA issues an annual statement and sends it to your registered address within three months of the financial year’s end. However, you can also download the NPS account statement on an ad-hoc basis online using the methods mentioned here.

How to Download NPS Transaction Statement?

Here is a step-by-step guide for NPS statement download:

Using the NSDL portal:

1. Visit the NSDL portal at www.cra-nsdl.com

2. Log in using your PRAN as a user ID and password

3. Enter the captcha code

4. Click Proceed

5. Click ‘Holding Statement’ under the ‘Transaction Statement’ section

6. You can see your account balance. If you want to know how to download the NPS receipt and the complete statement, select the ‘Transaction Statement’ option and click on ‘Download’

Using the NPS by Protean

It is the official NPS app available for all the registration NPS account holder (PRAN holders). The app is available on android play store as well as iOS Appstore.

Download the app (android or iOS devices, as the case maybe)
User ID is the 12 digit NPS PRAN
Password can be set using the Reset option with instant reset via OTP
Once logged there is an option on banner to download/email the transaction statement for Tier – 1 and Tier – 2 as per the requirement.
The downloaded statement on device is without any password, you can access instantly. For the mail ID, the password is as per the standard instruction.

Using the Umang App:

Umang is a government initiative offering various government services online under one platform. Developed by the Ministry of Electronics and Information Technology and Protean eGov (erstwhile National e-Governance) Division, it provides NPS and EPFO services. Follow these steps to access your NPS statement and gain the corporate NPS tax benefit using the Umang app:

Download the Umang app on your smartphone
Log in and search for NPS under the ‘All Services’ section
Tap on ‘Current Holdings
Enter your IPIN and PRAN to view your current holdings on the dashboard
To receive an NPS statement on your email ID, click 'Email Transaction Statement'
Go to the 'Transaction Statement' section
Enter your registered email ID to download the NPS statement via attachment instantly

Benefits of Downloading NPS Transaction Statement

Downloading the NPS statement offers the following benefits according to the information it provides:

It gives complete subscriber details, including their personal, contact, nominee, and nodal office details. It lets you know whether your NPS account is active or inactive, letting you take the appropriate action.
The investment summary that the statement provides gives an idea of the total contribution, total pension amount accumulated, and return generated to date during a period.
The investment summary mentions the scheme information with allocation percentage to different pension fund managers, giving you a clear picture of your fund allocation.
The statement includes a breakdown of total investments to each PFM, showing their contributions, total unit credits, and XIRR and NAV returns on assets during a period.
By knowing the total contributions and redemptions during a period, you can specifically view the employer and employee contributions in the statement.
You can find a summary of all transactions during a period, including PFM-wise details of the NAV, units allocated, and contribution amount in the statement.
Once you download the NPS statement, you can use it as investment proof when seeking corporate NPS tax benefits.
If you need help understanding some of the terminology of the NPS scheme, the statement contains a glossary of these terms to give you a better understanding.

Troubleshooting Common Issues

Avoid these common mistakes when downloading an NPS statement:

Choosing the wrong type of NPS statement

There are three types of NPS statements: transaction statements, holding statements, and voluntary contribution statements. You must choose the right kind of statement that you need when downloading one.

Wrong PRAN and IPIN

When downloading the statement, entering the wrong PRAN or IPIN will not provide the desired results. Double-check the credentials before submitting to download your statement quickly.

Downloading a fake Umang app

Umang is the registered app developed by the Ministry of Electronics and Information Technology and the National e-Governance Division. Before entering sensitive details, you must check the app's ratings and reviews to ensure it is authentic Umang.

Not receiving the statement by email.

Enter your correct email address where you want to receive your NPS statement. Double-check the email address and check the right account to receive the statement.

Conclusion

Downloading the NPS statement regularly lets you monitor your NPS transactions, take the necessary steps, and avail yourself of the applicable tax benefits while making informed decisions. Therefore, use the steps mentioned here to download and review your transaction statements regularly and manage your NPS account efficiently. Keeping an eye on your investments makes you a financially responsible investor and helps you with your retirement planning in the long term.

Frequently Asked Questions (FAQs)

Q: How can I download proof of NPS contribution?

Your NPS statement serves as proof of your NPS contribution. You can download the NPS statement using the NSDL portal or NPS by Protean-CRA or the Umang app.

Q: Can I download the NPS Transaction Statement online?

You can download your NPS transaction statement online using the NSDL portal or NPS by Protean CRA or the Umang app.

Q: Can I download statements for a specific time period?

You will receive annual statements directly to your email address within three months of a financial year’s end. If you need more statements, you can download them online using the steps mentioned here.

Q: What if I forget my NPS account password?

If you forget your NPS account password, you can visit the NPS account welcome page, click on the 'Forgot Password' link, select 'Instant Reset IPIN', enter a few required details, and generate a new password to log in.

Q: Can I download transaction statements for Corporate NPS accounts?

You can download your transaction statement for a corporate NPS account to avail of the corporate NPS tax benefit.

How to Download NPS Transaction Statement