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  2. Notes for Transaction Statement
  3. Tier II Tax Saver Account
Sr. No. Investment Summary
1. The ‘Investment Summary’ Section provides the Total Contribution in your account, Value of your Holdings (Investments) and Total Notional Gain/Loss on your Investment. It also provides overall Return on your Investment along with the Return for the financial year.
2. Return on Investments’ gives the annualized effective compounded return rate in PRAN account and is calculated using the formula of XIRR. The calculation is done considering all the contribution/redemptions processed in PRAN account since inception and the latest valuation of the investments. The transactions are sorted based on the NAV date.
3. The above returns are based on scheme NAVs and the securities held under the scheme portfolio are valued at Mark To Market (MTM) basis and are subject to change on NAV fluctuations.
Investment Details
4. The 'Investment Details' section provides scheme wise details of the Total Contribution processed in your PRAN account.
5. ‘Total Contributions’ in your account as on March 31, 2024 (in Rs.) indicates the cost of units currently held in the PRAN account.
6. 'Unrealized Gain / Loss' (in Rs.) indicates the gain/loss in the account for the current units balance in the account.
7. The investment in Tier 2 Tax Saver account will have a lock-in period of 3 years. Calculation of lock in period will be based on the date of investment in scheme.
8. Subscriber will be allowed to have maximum 3 pension funds under Tier 2 Tax Saver account.
9. Each fresh investment will be calculated separately for 3 years lock in period. Further, Pension Fund change will be allowed after completion of lock- in period. Such re-investment will be treated as fresh investments and will be again locked-in for 3 years.
10. The Investment in Tier 2 Tax Saver scheme is directly done in primary account and no option would be given to Subscriber to decide investment in E,C,G asset class. The investment is done as per PFRDA guidelines.
Account Management
11. The section “Account Management - Changes made during the Financial Year’ indicates all the change requests processed in PRAN account during the period for which the statement is generated.
Contribution/Redemption Details
12. The section 'Contribution/Redemption Details' gives the details of the contributions and redemption processed in subscriber’s account during the period for which the statement is generated. While contribution amount indicates the amount invested in subscriber’s account, the redemption amount indicates the cost of units redeemed from the account. The cost of units is calculated on a First-In-First-Out (FIFO) basis. The details are sorted based on date when the transaction is posted in PRAN account, which may/ may not be the date for allotment of the NAV.
13. Withdrawal from Tier 2 Tax Saver scheme will not be allowed during 3 years of lock in period excluding death cases. In case of Superannuation, Premature exit, Tier I account will be closed and Tier 2 Tax Saver account will be closed only after completion of three years of lock in period. Subscriber will not be allowed to make any fresh investment in Tier 2 Tax Saver scheme.
Transaction Details
14. The section 'Transaction Details' gives the units allotted under different schemes/asset classes for each of the contributions processed in subscriber’s account during the period for which the statement is generated. It also contains units debited from the account for redemption and rectification. The details are sorted based on date when the transaction is posted in PRAN account, which may/may not be the date for allotment of the NAV.
15. The Amount in the Closing Balance under the section 'Transaction Details' gives the cost of investment of the balance units and not a sum total of all contribution and withdrawal. The cost of units is calculated on a First-In-First-Out (FIFO) basis.
16. For transactions with the remarks “To Unit Redemption”, the cost of units redeemed are adjusted against the total contribution in the Investment Details section. Further, the cost of units is calculated on a First-In-First-Out (FIFO) basis. For calculating the ‘Returns based on Inflows’, the actual redemption value corresponding to the units redeemed has been considered.
Other Instructions
17. The Transaction Statement is dynamic. The value and other computations in the Transaction Statement depend upon the date on which the Transaction Statement is accessed in CRA system.
18. If subscriber has opted for ‘Auto Choice’ as Scheme Preference, the contribution is invested in Class E, C & G of the chosen PFM with percentage as per the subscriber’s age in accordance to the guidelines of PFRDA.
19. The CRA charges are levied on a quarterly basis. The bill amount is recovered by way of redemption of units on the last working day of the quarter. You are requested to check the current balance of your account from the Statement of Holding available at CRA website (www.cra-nsdl.com). You can also view the details of the charges in the ‘Bill Details View’ option on the CRA website.
20. If you have not provided your mobile number/email ID/Nomination at the time of registration or the details provided earlier have changed, please get the same updated in CRA system by submitting ‘Subscribers details change request’ form (Form UOS-S2) to your associated POP-SP. Also the mobile number and email ID can be updated by logging in the CRA website (www.cra-nsdl.com) using your PRAN as user ID or by accessing Protean-CRA Mobile App.
21. According to the Regulatory Guidelines, CRA follows the (T+2) Settlement Cycle. Subsequent to authorisation of Withdrawal request by Nodal Office, request will be considered for pay-in on next working day and as per the stipulated settlement process the funds will be transfer to the respective Subscriber’s (i.e. on T+2 settlement days).
22. In case of Tier II Tax Saver account; you may contribute either through any of the POP or through the eNPS Portal (https://enps.nsdl.com/eNPS/submitTier2Request.html) or the NPS APP (available in Google Play store). (additional Point, not in current SOT)
23. In case of any other queries, you may contact CRA toll free helpline 1800 2100 080/ 022-24993499. Please keep your PRAN and T-PIN ready before calling.
24. Custodian Charges by NPS Trust have been revised from 0.0032% to 0.000000001770%.

LEGENDS

TERM

DESCRIPTION

NAV

Net Asset Value is the underlying value of one unit and is computed daily, based on the closing market prices of the securities in the fund's portfolio.
The daily NAV is available at https://npscra.nsdl.co.in/nav-search.php

Current value of Contribution in a Scheme = Current NAV of the scheme x Total Units in the Scheme.