How to Open NPS Account Online

Wondering how to Open NPS Account Online? But, firstly what is NPS? The National Pension System (NPS) is a social security scheme that may be accessed online. PFRDA  has control over NPS. Its goal is to provide financial rewards via pension after retirement. The federal government created NPS in 2014. NPS is a scheme that is based on contributions that provide retirees with returns that are linked to the market.

Also read NPS Vs PPF: Comparison, Return Rates & Which is Better.

How to Open NPS Account Online?

An NPS account can be opened in 2 ways:

• Through the BankBazaar portal
• Through the NPS portal

Also, read NPS Customer Cares Support Toll-Free and Contact Numbers.

How to Open NPS Account Online: Through the BankBazaar portal

Step 1: Go to https://www.bankbazaar.com/nps-signup.html on the BankBazaar portal.

Step 2: Select ‘Investments’. Next, select ‘National Pension Scheme’.

Step 3: You’ll be sent to a fresh webpage.

Step 4: Click the ‘Create new account’ button.

Step 5: Fill in the blanks with the information listed below:

• First name
• Surname
• Birth date
• Phone number
• PAN code
• Kind of employment
• Month earnings

Step 6: Confirm your phone number by clicking the ‘Verify’ button near it.

Step 7: Click the ‘Continue’ button.

Step 8: You’ll be taken to the NPS website.

How to Open NPS Account Online: Through the NPS portal

PFRDA regulates NPS activities through the NPS portal. You may create an NPS account using one of two techniques:

• Online mode:

Anyone can establish an NPS account online.

1. For online registration, go to the eNPS website (https://enps.nsdl.com/eNPS/NationalPensionSystem.html).
2. The NPS account should be connected to your cellphone number, PAN, and Aadhar.
3. A One Time Password will be given to your associated cellphone number to finish the verification.
4. You will get a PRAN after completing registration, which you may use to sign in to your NPS account.

• Offline Mode

Points of Presence (PoP) are designated postal offices and banks where you may create an NPS account.

• Locate the closest PoP and fill up an NPS subscription form. Complete the form and attach copies of your KYC papers, like your PAN card, Aadhaar card, passport, and so on.
• In case you are a current client of the bank, you are not required to provide the KYC papers because your KYC data already exists in their system.
• Place your first payment into the account. It cannot be lower than Rs.500 not inclusive of tax. The annual contribution to a Tier I NPS account is Rs.1,000. You will also be required to pay a lump-sum registration charge.
• Your postal office or bank will provide you with your PRAN. The PRAN plus password required to access your online account will be included in the kit.
• One may access one’s NPS account using the NSDL NPS site or an online banking account.
• Originally envisioned solely for federal government personnel, the NPS was later expanded to all people by the PFRDA. As a result, every employee who is self-employed or working privately is eligible for the new pension program. It is also worth noting that the new pension program allows for mobility across different locations and occupations.
• All federal government personnel (excluding the Armed Services personnel) who entered post January 2004 can create a new pension scheme account, although state government workers may have varying dates.

Login Procedure for the First Time to Your NPS Account?

• Navigate to https://enps.nsdl.com/eNPS/NationalPensionSystem.html.
• From ‘Additional Services,’ choose ‘Log in with PRAN/IPIN’.
• Insert your previously utilized ID plus password, accompanied by the captcha.
• Hit the ‘Submit’ button.
• If you lose your password, go to ‘Additional Services’ and select ‘Click Here’.
• A fresh page will be shown. Choose ‘Nodal Office’ or ‘through OTP’.
• Once you select OTP, you must input the OTP sent to your cellphone or e-mail address, as well as your PRAN and birth date.
• In the following step, input the password you wish to employ and verify it. Type the captcha and press the ‘Submit’ button.

Opening of NPS Account

Originally envisioned solely for federal government personnel, the NPS was later expanded to all people by the PFRDA. As a result, every employee who is self-employed or working privately is eligible for the new pension program. It is also worth noting that the new pension program allows for mobility across different locations and occupations.

All federal government personnel (excluding the Armed Services personnel) who entered post January 2004 can create a new pension scheme account, although state government workers may have varying dates.

Anyone above the age of 18 but younger than the age of 60 can create a new pension scheme account. Subscribers must complete the steps below to create an NPS account:

• Obtain the request form for PRAN.
• Fill complete and return the PRAN form.
• Obtain the PRAN card

Subscribers must obtain a PRAN applicant form, available at every Point of Presence – Service Providers (POP-SP). Subscribers must complete the application form of PRAN, inclusive of information like scheme selection and signature, amongst many other things. Subscribers must provide KYC papers, which include evidence of residence and identification.

Subscribers must present the application form for PRAN to a Point Of Presence – Service Provider after properly completing it.  They must also attach KYC documentation with an application form, following which the CRA will mail the PRAN card to the subscribers’ address.

A subscriber can utilize his PRAN at any moment to monitor his transactions online. PRAN Kit includes a PRAN card, the subscriber’s name, a photograph, the father’s name, a signature, and an I-Pin and T-Pin. Individuals can only utilize a single portable PRAN. If subscribers possess several PRANs, the nodal offices will disable one of them.

A photocopy of the PRAN card is required for tier-II account activation. Employees who have enrolled in the new pension system can register a tier II account by presenting the UOS-S10 form, together with a PRAN card plus Rs.1000 to a POP-SP.

POP-SP is? 

Furthermore, government workers may become a member of the new pension system through a Point of Presence – Service Provider (POP-SP).

A Point of Presence – Service Provider (POP-SP) is a point of contact for a subscriber who is not a  government worker and wishes to create a retirement account that is permanent with the CRKA and join the new pension plan.

Conclusion?

National Pension System (NPS) is a social security scheme that may be accessed online. PFRDA  has control over NPS. Its goal is to provide financial rewards via pension after retirement. The federal government created NPS in 2014. NPS is a scheme that is based on contributions that provide retirees with returns that are linked to the market.

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