How To Update Details In NPS Account?

Discover the steps involved in updating details in your NPS account. Learn about the requisite procedures, documentation, and digital channels through which you can modify personal information and preferences within your NPS account.

Overview

The National Pension System (NPS) is a voluntary retirement savings scheme designed to enable subscribers to make regular contributions towards a pension fund, ensuring a stable income post-retirement. Over time, subscribers may need to update various details in their NPS accounts to reflect changes in their personal information or preferences. This article provides a comprehensive guide on how to update details in NPS account, including the necessary procedures and documentation.

What is NPS?

NPS is a government-sponsored pension scheme launched in January 2004 for government employees and later extended to all citizens of India. It aims to provide retirement income and inculcate the habit of saving for retirement among citizens. NPS offers a flexible and portable system where subscribers can choose their investment options and pension fund managers.

Key Features of NPS

Voluntary: Open to every Indian citizen.

Flexible: Choose your contribution amount and frequency.

Portable: Can be managed online and remains active even if you change jobs or location.

Tax Benefits: Contributions are eligible for tax deductions under Section 80C and Section 80CCD(1B).

What Details can be Updated in an NPS Account?

Subscribers can update various details in their NPS account, including:

Contact Details: Mobile number and email address.

Aadhaar Information: Linking or updating Aadhaar details.

Address Details: Residential or correspondence address.

Scheme Preferences: Changes in investment options or fund managers.

Nominee Details: Adding, updating, or changing nominees.

Bank Account Information: Updating bank details for seamless transactions.

Where can You Update NPS Account Details?

NPS account details can be updated both online and offline. The online method involves using the official NPS website or mobile app, while the offline method requires visiting the Point of Presence-Service Provider (POP-SP) or the nearest NPS branch office.

How to Update Contact Details?

Updating contact details like mobile number and email address is crucial for receiving timely notifications and updates.

Plan your future with confidence using our accurate NPS pension calculator for govt employees.

Online Method

1. Login to the CRA Website: Visit the NPS Trust’s CRA (Central Recordkeeping Agency) website (NSDL or Karvy).
2. Access Your Account: Use your PRAN (Permanent Retirement Account Number) and password to log in.
3. Navigate to ‘Update Details’: Select the option to update your contact details.
4. Enter New Contact Information: Input the new mobile number and email address.
5. Submit and Confirm: Review the changes and submit them for processing.

Offline Method

1. Visit POP-SP: Go to your nearest Point of Presence-Service Provider.
2. Fill the Form: Complete the ‘Subscriber Details Change Request Form’ (Form S2).
3. Submit the Form: Hand over the form along with a copy of your PRAN card.
4. Verification: The POP-SP will verify the details and update them in the system.

How to Update Aadhaar Information?

Linking your Aadhaar with your NPS account enhances security and simplifies various processes.

Online Method

1. Login to the NPS Account: Access your NPS account through the CRA website.
2. Select ‘Aadhaar Seeding’: Navigate to the Aadhaar seeding option.
3. Enter Aadhaar Number: Input your 12-digit Aadhaar number.
4. OTP Verification: An OTP will be sent to your registered mobile number for verification.
5. Confirm and Submit: Enter the OTP and submit the request.

Offline Method

1. Download the Form: Get the ‘Subscriber Details Change Request Form’ (Form S2) from the NPS website or POP-SP.
2. Fill in Aadhaar Details: Complete the form with your updated Aadhaar information.
3. Submit the Form: Submit the form along with a self-attested copy of your Aadhaar card at the nearest POP-SP.
4. Verification: The POP-SP will process and update your Aadhaar details.

How to Update Address Details?

Keeping your address updated is essential for receiving physical communication and important documents.

Online Method

1. Log in to the CRA Website: Use your PRAN and password.
2. Select ‘Update Address’: Navigate to the address update section.
3. Enter New Address: Input the new address details.
4. Upload Proof of Address: Upload a scanned copy of the address proof document.
5. Submit and Confirm: Verify the details and submit the request.

Offline Method

1. Visit POP-SP: Go to your nearest Point of Presence-Service Provider.
2. Fill the Form: Complete the ‘Subscriber Details Change Request Form’ (Form S2).
3. Attach Address Proof: Attach a self-attested copy of the new address proof.
4. Submit the Form: Submit the form to the POP-SP for processing.
5. Verification: The POP-SP will verify and update the address in the system.

How to Update Scheme Preferences?

Subscribers can update their scheme preferences to align their investments with their financial goals and risk appetite.

Online Method

1. Login to the NPS Account: Access your account on the CRA website.
2. Select ‘Scheme Preference’: Navigate to the scheme preference section.
3. Choose New Preferences: Select the new pension fund manager and investment options (Active or Auto Choice).
4. Confirm Changes: Review and confirm the new scheme preferences.

Offline Method

1. Visit POP-SP: Go to the nearest POP-SP.
2. Fill the Form: Complete the ‘Subscriber Scheme Preference Change’ form.
3. Submit the Form: Submit the form to the POP-SP along with your PRAN card.
4. Verification: The POP-SP will update the scheme preferences in the system.

Procedure to Update Nominee Details in NPS Account

Updating nominee details ensures that the right beneficiaries receive the benefits in case of the subscriber’s demise.

Online Method

1. Login to the NPS Account: Use your PRAN and password.
2. Select ‘Update Nominee Details’: Navigate to the nominee details section.
3. Enter Nominee Information: Add or update nominee details such as name, relationship, and share percentage.
4. Upload Nominee Proof: Upload scanned copies of nominee identity proof.
5. Submit and Confirm: Verify the details and submit the request.

Offline Method

1. Visit POP-SP: Go to the nearest POP-SP.
2. Fill the Form: Complete the ‘Annexure III’ form for updating nominee details.
3. Attach Proof: Attach self-attested copies of nominee identity proof.
4. Submit the Form: Submit the form to the POP-SP.
5. Verification: The POP-SP will process and update the nominee details.

How to Generate a New IPIN Online?

An IPIN is essential for accessing your NPS account online.

1. Visit CRA Website: Go to the NPS CRA website.
2. Select ‘Generate/Reset IPIN’: Choose the option to generate or reset IPIN.
3. Enter PRAN: Input your PRAN and other required details.
4. OTP Verification: An OTP will be sent to your registered mobile number.
5. Set New IPIN: Enter the OTP and set a new IPIN.

How to Update Details in NPS Account through Offline Mode?

For subscribers who prefer or need to update details offline, the following steps should be followed:

1. Visit POP-SP: Locate and visit the nearest Point of Presence-Service Provider.
2. Fill the Relevant Forms: Depending on the update required, fill out the appropriate forms such as Form S2 for personal details, Annexure III for nominee details, etc.
3. Attach Necessary Documents: Include self-attested copies of required documents.
4. Submit the Form: Hand over the completed form and documents to the POP-SP.
5. Receive Acknowledgment: Obtain an acknowledgment receipt for tracking purposes.

What are the Documents Necessary?

The documents required for updating details in an NPS account vary based on the type of update. Commonly needed documents include:

Identity Proof: Aadhaar card, PAN card, passport, voter ID.

Address Proof: Aadhaar card, utility bill, bank statement, rental agreement.

Nominee Proof: Identity proof of nominee, such as Aadhaar card, passport.

Bank Details: Cancelled cheque, bank statement.

FAQs

How long does it take to update NPS?

Updating details in an NPS account typically takes 2-7 working days, depending on the mode of update (online or offline) and the nature of the change.

How can I change my mobile number and email id in NPS?

You can change your mobile number and email ID by logging into your NPS account on the CRA website and updating your contact details under the 'Update Details' section. Alternatively, you can visit your nearest POP-SP, fill out the 'Subscriber Details Change Request Form' (Form S2), and submit it along with your PRAN card.

Can I change NPS amount every year?

Yes, you can change your NPS contribution amount every year. The flexibility of the NPS allows you to adjust your contributions according to your financial situation and retirement goals. You can make these changes through your NPS account online or by submitting a request at your POP-SP.