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Features & Other Benefits
  • Transparent: NPS is transparent and cost effective system wherein the pension contributions are invested in the pension fund schemes and the employee will be able to know the value of the investment on day to day basis.
  • Portable: Each employee is identified by a unique number and has a separate Permanent Retirement Account which is portable i.e., will remain same even if an employee gets transferred to any other office.
  • Simple: All the subscriber has to do is to open an account with his/ her Nodal Office and get a PRAN.
  • Safety: NPS is regulated by PFRDA with transparent investment norms & regular monitoring and performance review of fund managers by NPS Trust.
  • Dual benefit of Low Cost and compounding effect: The pension wealth accumulates over a period of time till retirement; grows with a compounding effect and the account maintenance charges are also low.

Following are the services offered by CRA to NPS Subscribers:

  • CRA registers the Subscribers and allots unique Permanent Retirement Account Number (PRAN) post registration.
  • Introduction of NPS Mobile App wherein Subscribers can access their NPS accounts from any location.CRA issues a PRAN card and PIN mailers to access Mobile App, CRA website and CRA Call Centre.
  • CRA maintains the Permanent Retirement Account (PRA) of the Subscribers and facilitates the creation of units in Subscribers account as per the contribution details and funds received from the Nodal Offices.
  • At the end of every Financial Year, CRA sends a physical Transaction Statement to the Subscriber containing the details of the transactions in Subscribers Permanent Account.
  • CRA registers grievances (received through CRA system or through G1 form) and sends the resolution details to the Subscribers by email.
  • CRA has provided various online functionalities to NPS Subscribers viz; for updation of Mobile No. / Email ID, Seeding of Aadhaar and Address update using Aadhaar.

No. You need not close your NPS account upon Shifting of Job/ Location.

PRAN allotted under NPS is portable. PRAN can be shifted from one office to another across sectors. Further, the PRAN remains active in the CRA system till the Subscriber exits from NPS. Once the Subscriber exercises the exit option (i.e., on successful processing of withdrawal request), the PRAN will get deactivated in the CRA system.

For e.g. Subscriber can shift from one sector to another sector with the same PRAN e.g. from Central Government (CG) to State Government (SG) or from one State Govt. to another State Govt., etc.

For shifting PRAN from one sector to another or from one State Govt. to another State Govt., Subscriber is required to submit Form ISS-1 (Inter Sector Shifting form) to the target Nodal Office/ Point of Presence (PoP) with whom the Subscriber will be associated after shifting. Form ISS-1 is available on the CRA website - www.npscra.nsdl.co.in. The target Nodal Office/ PoP will facilitate the shifting of PRAN along with accumulated NPS contributions of source sector in the CRA system.

For shifting of PRAN within Central Government/ within same State Government, Subscriber is required to intimate his PRAN to the target (new) office with whom he/she will be associated after shifting. There is no need to fill form ISS-1. The new office will facilitate shifting of PRAN in the CRA system. On successful processing of monthly NPS contributions by new office, PRAN will get associated to new office in the CRA system. Further, the new office is required to update subscriber’s employment details (such as DDO office name, department, pay scale and salary details, etc.) in the CRA system.

Subscribers have the following options in IVR:

  • Change T-PIN.
  • Check scheme preference (for Tier II) and holding details.
  • Check the status of any change request (like change of address, nomination, etc.).
  • Check details of last contribution credit and last withdrawal request (for Tier II only).
  • Request for Transaction Statement for last 3 Financial Years.
  • Check the status of Subscriber Shifting
  • Speak to a Customer Care Executive for any further query.

Below are few significant benefits of Tier II NPS Account:

  • Saving for your day to day need (withdrawal at any point of time)
  • Transfer fund to pension account ( Tier I) any time
  • No minimum balance required
  • No levy of exit load
  • Separate Nomination facility available

No, there is no need to re-open NPS account when you change your Job or location. Portability is one of the key features of NPS, it can be operated from anywhere in the country irrespective of individual employment and location/geography. This implies that you can shift your PRAN from one sector to another, e.g. Central Government to Corporate sector, State Government to Central Government etc. and vice versa.

For shifting PRAN from one sector to another or from one State Govt. to another, the Subscriber is required to submit Form ISS-1 (Inter Sector Shifting from). The form ISS-1 is available on the CRA website to the target Nodal Office i.e. to the Nodal Office with whom he/ she will be associated after shifting. However, the Inter Sector Shifting is not required for Subscribers shifting within same Sector (i.e. within Central Govt. or same State Govt.).