Everything About NPS Registration And Login Process
Table of Contents
India has been a "pension-less" nation, with only government employees receiving a safe source of pension to maintain their lifestyle after retirement. Employees in the private sector, as well as self-employed professionals, were required to plan their own retirement. The government hopes to make India a "Pensioned" society by implementing the National Pension Scheme, which would give financial security to all citizens in their golden years.
The National Pension System, a government retirement plan, is overseen by the Pension Fund Regulatory and Development Authority (PFRDA). NPS is open to all Indian nationals (residents and non-residents) between the ages of 18 and 65. Continue reading to learn more about the NPS registration and login procedure.
NPS Registration And Login Process
Individuals can register for NPS in two methods, as detailed below:
1. Online Mode
The following are some of the procedures that an individual must do in order to register for NPS using the online process:
- Select the NPS Model for which you are applying: Central Government, State Government, Corporate, or Individual.
- You must enter all of your personal and professional information, including your name, address, date of birth, contact information, educational qualifications, occupation, and income.
- Enter your bank account details, such as account number, bank, branch, IFSC code, MICR code, and so on.
- You must identify and provide information on a nominee who will receive the money if you die.
- Choose that option if you wish to open a Tier-II account. A Tier-I account is generated by default when you register for NPS.
- Select a manager for your pension fund. There are now eight options to select from. You have the option of just selecting one fund manager.
- By clicking on it, you may select the ratio in which you want to invest in various assets.
2. Offline Mode
In addition to a properly completed NPS registration form, you must bring a recent photograph and a check or demand draught for the initial payment to the nearest NSDL office or POP.
You will be assigned a PRAN when you submit your form to the NSDL offline (Permanent Retirement Account Number). This number will function as the identifier of your NPS account and will be required to complete all NPS account operations.
Login to NPS
You may now access your E- NPS account via a variety of channels, including the NSDL NPS site or your internet banking account, after your NPS account has been created and your PRAN has been allocated.
1. Using the NDSL Portal
The processes for registering using the NDSL portal are as follows:
- Visit the official NSDL NPS webpage at www.npscra.nsdl.co.in.
- Click the "Open your NPS Account/Make an Online Contribution" button.
- Select the "Login using PRAN/IPIN" option.
- This will take you to the log-in page.
- For a new password, click the link option "Password for e NPS."
- In this section, you must enter your PRAN, date of birth, new password, confirm password, and captcha. When you've completed all of the sections, click the submit button.
- An OTP will be sent to your registered telephone number. Enter this OTP on the screen to confirm your new password.
- You may now log in to your E-NPS account using your PRAN and new password.
2. Using Internet Banking
- Many banks let you access your e-NPS account with internet banking. Log in to your online banking account and go to the NPS page to verify your account information.
- You may manage your NPS account by making contributions, selecting schemes, and completing chores using your online banking interface.
- The NPS is an excellent option if you desire a stable source of income once you retire. It not only offers significant tax advantages, but it also supports you in developing a corpus for your retirement. Enrolling in a pension scheme is now easier than ever, owing to the ability to open a new NPS account and complete all necessary transactions online.
Endnotes
Employees are encouraged to contribute to a pension account at regular intervals throughout their employment. When subscribers retire, they can withdraw a portion of the corpus. If you have an NPS account, the amount will be paid to you as a monthly pension when you retire.
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