New Features Released For NPS Subscribers
Press Information Bureau,
Government of India
Ministry of Finance
Dated: 15/07/2016
New Features Released For NPS Subscribers
Pension
Fund Regulatory and Development Authority (PFRDA) takes various
initiatives from time to time in order to simplify and improve the
operational issues in National Pension System (NPS) like new
functionality development under NPS architecture, simplification of
account opening, withdrawal, grievance management etc. In this regard,
recently many new functionalities have been released to provide the ease
of operation for the benefit of subscribers and nodal offices. These
are detailed below:
Functionality released recently for the benefit of NPS subscribers:
S.No
|
Functionalities
|
Benefits Description
|
1
|
Mobile Application
Mobile
Application for NPS is now available to the Subscriber’s in ‘Google Play
Store’ as ‘NPS by NSDL e-Gov’ for installation and use
|
In Mobile
App, the Subscriber will be able to raise the request for Transaction
Statement for a particular financial year which will be sent to his
registered mail ID at end of the day, can view his/her NPS account,
latest details of scheme wise units along with latest NAV and the total
value of the schemes, details of the last five contributions
credited, can change contact details (Telephone/Mobile no./Email ID),
change password/security Question add/modify his/her password and set
security question (for password reset) through Mobile App.
Notifications, if any, from CRA will be available to the Subscriber.
Short messages will be displayed here.
|
2
|
Change of address using Aadhaar authentication
|
The
Subscribers can now update/modify their address on their own using
Aadhaar based authentication. After logging in CRA, Subscriber will use
the menu “Update Address” by providing the Aadhaar No and click on the
‘submit’ button. After which an OTP will be sent to Subscriber’s mobile.
Once the Subscriber authenticates by submitting the OTP, address
details from Aadhaar system will be fetched and updated in the CRA
system. In this process, Subscriber will be able to update permanent as
well as correspondence address.
|
3
|
Scheme Preference change facility
|
Once
Subscriber opts to change his / her Scheme Preference after logging in,
an OTP will be sent to the Subscriber (on their registered mobile
number). After authentication is done with OTP, the Subscriber can
change their PFM, Asset Class, Allocation Ratio, Scheme Options.
|
4
|
Tier II activation through eNPS
|
Any
subscriber having Tier I account in NPS can now activate Tier II account
online through eNPS by entering his / her PRAN, DOB and PAN. An OTP
will be generated and will be sent to the registered mobile number.
Subscriber has to enter the OTP and proceed for Tier II activation under
NPS.
|
5
|
KYC re-verification using Aadhaar authentication
|
A
Subscriber whose Bank has not confirmed (rejected) his / her KYC
verification request can now update the address details and confirm KYC
using Aadhaar based authentication. The Subscriber needs to simply go to
eNPS site, click on Update details and proceed.
|
6
|
Facility to contribute Online
|
Subscribers
are contributing through online mode using eNPS portal of NPS Trust.
Now, a facility has been made available to contribute online by
Subscribers using IPIN credentials in CRA system. Subscriber can login
into the CRA system and click on “Contribution” menu. On submission, the
Subscriber will be redirected to eNPS contribution page from where he /
she can contribute as per existing process of eNPS.
|
7
|
Withdrawal from Tier II account
|
At present,
for Withdrawal from Tier II account, the NPS subscribers are required
to visit the branch of the associated Point of Presence (POPs) or Nodal
Office. Now, the NPS Subscribers have a facility to initiate withdrawal
request from Tier II account using their login credentials and OTP
authentication on registered mobile number.
|
8
|
Online IPIN generation
|
The eNPS
Subscribers can now access the CRA system immediately after registering
without waiting for physical I-PIN to be despatched. Facility is now
available where the Subscriber will generate I-PIN instantly and access
his / her NPS account.
|
Currently, NPS and APY together have 1.29 crore subscribers with total Asset under Management (AUM) of 1.34 lakh crore.