When it comes to planning for the future, most young Indians like to get a head start. They evaluate their options and pick a suitable plan for their golden years. The National Pension System (NPS) has become a popular tool to build a corpus for a financially secure retirement. Every NPS account holder must update their information to seamlessly and efficiently manage pension investments. Here’s our comprehensive guide on updating various details in your pension account.
What Details Can You Update?
You can update the following information seamlessly from the comfort of your home:
- Contact details such as your mobile number and e-mail address
- Your Aadhaar information
- Address details
- Scheme preference details
- Nominee details
From Where Can You Update Details?
By logging into your respective CRA website. Click on the Links given below for your CRA website.
How to Update Contact Details
Updating your contact details is quick and easy. Follow these steps to ensure your account has your updated contact information:
Step 1: Visit your respective CRA website and log into your NPS account with your Permanent Retirement Account Number (PRAN) and password.
Step 2: Navigate to the update section and identify the option to update personal details or make changes to your NPS account information.
Step 3: Modify your mobile number and e-mail address as required.
Step 4: Verify the changes via the OTP sent to your registered mobile number.
Keeping your contact details up-to-date helps protect your account from potential fraud. It also restricts unauthorised access to your pension fund.
How to Update Aadhaar Information
Your Aadhaar card serves as your identity proof across India. You must ensure that your NPS account is updated to reflect accurate Aadhaar information. You can follow these steps to update your Aadhaar information:
Step 1: Use your PRAN and password to log into your account on your respective CRA website.
Step 2: Navigate to the update section.
Step 3: Select Update Aadhaar/Address Details.
Step 4: Enter your Aadhaar number and request to generate an OTP.
Step 5: Submit the OTP to update your Aadhaar details.
How to Update Address Details
Your address and Aadhaar details are linked. You can follow the same process as above to update your address details.
How to Update Scheme Preferences
You can update your investment and scheme preferences online by following these steps.
Step 1: Log into your account on your respective CRA website and select the Transact Online option.
Step 2: Locate the Change Scheme Preference button.
Step 3: Select whether you want to update your Tier I or Tier II account.
Step 4: Choose your new scheme preferences. Select your equity, debt, and government security ratios if you choose the active investment option.
How to Update Nominee Details
Your nominee will receive the accumulated pension amount if anything happens to you. You can update the nominee for your NPS account by following these steps:
Step 1: Log into your account on your respective CRA website .
Step 2: Select the Demographic Changes option and choose Update Personal Details.
Step 3: Click the Add/Update Nominee Details option and select the account tier to update the details.
Step 4: Verify the change with the OTP received on your registered mobile number.
Step 5: Select the e-Sign and Download option to authenticate the changes.
Step 6: Input your Aadhaar ID to generate the e-signature on the page and verify it with an OTP.
Step 7: Once authenticated, the nominee’s details get updated in your NPS records.
How to Generate a New IPIN Online
You must use an IPIN to access your pension account online. You may have to generate a new IPIN to regain account access. Here’s how you can generate a new IPIN online:
Step 1: Access the welcome page for your NPS account on your respective CRA website.
Step 2: Select the Forgot Password option.
Step 3: Choose the Instant Reset IPIN option.
Step 4: Enter your verification details, such as your PRAN or date of birth.
Step 5: Set a new password and generate an OTP.
Step 6: Enter the OTP sent to your verified mobile number to complete the process and generate your new IPIN.
How to Update Details Offline
Whenever required, you have the option of updating your account details offline as well. You can follow these steps to update the necessary details:
Step 1: Download Form S3 from the official NPS Trust website.
Step 2: Fill out the form with your PRAN and the updated details.
Step 3: Visit your nearest Point of Presence (POP) or Point of Presence Service Provider (POP-SP) and submit the form.
You must produce your original Aadhaar and two self-attested copies for verification when you submit the S3 form at a POP or POP-SP. You may have to carry your PAN Card and bank passbook for additional verification.
As an NPS account holder, you must ensure that all your details are accurate and up-to-date. Regularly updating your contact information, address and nominee details will facilitate the easy operation of your account. The simple steps outlined above will enable you to update your NPS details and secure your financial future effectively. Remember, proactive account management is the key to enjoying a worry-free retirement with NPS.