Want to open an NPS account online? Here is a quick guide on how to manage an account, get an ePran Strap card: According to financial experts, NPS is one of the most effective long-term investments for one’s retirement, and also offers decent tax benefits. Here ar

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For all individuals, retirement is an important financial goal. Those who systematically plan their investments, always keep funds aside to invest in the National Pension System (NPS). Regulated by the Pension Funds Regulation and Development Authority (PFRDA) and the central government, the NPS can be described as a contributory pension scheme for Indian citizens. Since this is a market-based product, the returns offered are based on the performance of the fund. According to financial experts, NPS is one of the most effective long-term investments for retirement and also offers decent tax benefits under Section 80CCD(1), Section 80CCD(1B) and Section 80CCD (2) from Indian Income. Revenue Act, 1961.

How to Open an NPS Account

An NPS account can easily be opened online using the Aadhaar card or the PAN card. The age limit for opening the account has been set between 18 and 70 years old. Subscribers can open a Level I account – the main retirement account, as well as a Level II account or an investment account.

Registration with the Aadhaar card

The subscriber can visit the NSDL portal and register for an eNPS account. Once logged in, the subscriber should click on “Demographic Changes” under the menu option and then select the “Update personal information” option.

From there, on the “Subscriber Edit” page, the subscriber should select “Add/Update Candidate Details” and then click “Confirm” to continue. or level 2, then declare the nomination for the account.

Also Read: Post Office Department Starts Providing NPS Services Via Online Mode: Details Here

For applications, the applicant’s name, date of birth, relationship, guardian’s name, address, PIN, city, state and country, and whether or not they are an adult – all these details must be completed. Then the subscriber should click on ‘add’ if you want to add more than one candidate, or alternatively click on ‘Save’ for the given details.

In the event that a subscriber wishes to make changes to the nomination form, they must click ‘Edit’ or alternatively click ‘Submit’ to continue.

Following this, an OTP will be sent to your registered mobile number, which must be filled in. The next step would be to have the subscriber sign the change form. To do this, he or she must click on ‘eSign & Download’.

Once done, the subscriber can click on ‘Continue’, which will take him to the ‘NSDL Electronic Signature Service’ page under which you must accept all declarations.

Then the portal will ask for your VID/Aadhaar number and click on “Send OTP”. Once completed, the subscriber should click on ‘Check OTP’.

Now in the last step, the subscriber has to click on “Download e-Sign File” and the changed appointment details will be downloaded to your device in PDF format.

Registration using the PAN card

A subscriber can also use their PAN information to open an NPS account. You can also open your account by visiting the Karvy website. To open an NPS account using a PAN card, the details will first be verified by any entity of the subscriber’s choice. This can be a bank or any custodian. One can give details of your bank account number along with the name of the bank or you can also choose to have it verified by the custodian where you have your Demat account.

Read also: Economic study 2022: the “All Citizen Model” of the NPS registers the strongest growth of 51.29%

As part of this process, one needs to upload scanned copies of the PAN card, canceled check, last photo and signature in specified formats.

ePran card

In both options, a subscriber can opt for the ePRAN (Permanent Retirement Account Number) card instead of the physical card as it can save a lot of money. While for a physical PRAN card, it takes Rs 40 for NSDL and Rs 39.36 for Karvy. For an ePran card, the fee is Rs 4 for Karvy and Rs 18 for NSDL. One can opt for an ePran card first and later obtain the physical copy of the PRAN card at any time upon payment of the fee.

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