National Pension Scheme 2023- Tier 1 & 2 Registration

Pension programs offer financial security and stability to retirees who do not have a steady source of income. People who have a retirement plan may live with pride and without lowering their level of living as they get older. Pension plans allow you to invest and save money while also receiving a lump sum payment as a monthly income stream when you retire. The National Pension Scheme 2023 (NPS) is an Indian government-sponsored investment and pension scheme. The Pension Fund Regulatory and Development Authority regulates and administers this plan (PFRDA). It was created by the Indian government to provide financial security to Indian older persons. The NPS system offers remarkable long-term savings choices, allowing individuals to effectively plan their retirement time by investing in this safe market-based plan.

Table of Contents

About National Pension Scheme 2023

The National Pension Scheme, also known as the National Pension System, is accessible to all employees in the public, private, and unorganized sectors. Subscribers to the NPS system can make a minimum annual contribution of Rs.6,000, which can be paid as a single amount or in monthly installments of Rs.500. Subscriber contributions to the NPS system are invested in market-linked securities such as debt and equities, with rewards based on the success of these assets.

The National Pension Scheme account can be opened by any Indian citizen between the ages of 18 and 60. The National Pension Scheme, which is regulated by PFRDA, matures at the age of 60 and can be extended up to 70 years. After three years of account establishment, members can withdraw up to 25% of their contributions in certain circumstances, such as purchasing a property, funding a child’s education, or treating serious diseases.

Also Read: Donate-a-Pension Scheme

Key Highlights of the National Pension Scheme

Conducted By	Government of India
Name of Scheme	National Pension Scheme
Objective	To provide a pension for the retired citizens
Benefits	Will receive monthly income
Eligibility Criteria	To all employees in the public, private, and unorganized sectors
Mode of Application	Online and Offline
Official Website	NPS – National Pension System (nsdl.com)

Objective of National Pension Scheme

The main objective of the National Pension Scheme is to provide pension amounts after retirement to all investors. Through the National Pension Scheme, all citizens will remain self-reliant even after retirement and they will not have to face any financial problems. Under this scheme, investors can invest according to their financial condition. So that more and more people will be able to apply under this scheme. There are two types of accounts in the National Pension Scheme which are called Tier One and Tier Two. By investing in the National Pension Scheme, you will be financially independent even after retirement.

Benefits and Features of the National Pension Scheme

The directors of this scheme will be provided a pension after retirement.
If you have invested in the purchase of an Annuity then you will get a full tax exemption.
Additional deductions up to ₹ 50000 can be claimed under section 80CCE.
National Pension Scheme can claim a deduction of 10% of the gross income under section 80CCD(1) of the Income Tax Act, subject to an aggregate limit of Rs. Under section 80 CCE, this limit is 1.5 lakhs.
The minimum investment limit under National Pension Scheme is ₹6000.
If you are not able to invest as much as the minimum limit under the National Pension Scheme, then your account will be frozen and you will have to pay a penalty of ₹ 100 to get the account to unfreeze.
Earlier, the contribution to this limit used to be 10 percent, which has now been increased from 10 percent to 14 percent by the government.
If the investor dies before the age of 60, then the pension amount will be given to the nominee.
The Finance Minister of India has decided to separate the National Pension Scheme Trust from the Pension Fund Regulatory and Development Authority.
The Directors of the National Pension Scheme are provided with a Permanent Retirement Account Number which is a 12-digit number. Investors can do transactions from this number.
National Pension Scheme – The applicant cannot open more than one account.

National Pension Scheme New Update

Till now government employees were National Pension Scheme physically registered which was done through an online module adopted by the Central Record Company Agency or the nodal offices of the government. by the Pension Fund Regulatory and Vikas Padhikaran National Pension Scheme the online facility to register this, now employees can open their NPS account online. The online process will be known as e-NPS. E-NPS will be hosted by CRA. Under which the subscriber can register himself and contribute under NPS.

National Pension Scheme Returns

Because the funds are invested in market-linked assets, a national pension system does not have a fixed rate of interest. Instead, the returns are depending on the market performance of the funds. Through several pension funds, contributions to the NPS program can be invested in four different asset classes: stocks, government bonds, corporate bonds, and alternative assets. These pension funds’ returns are determined by the performance of the stock and bond markets.

Eligibility Criteria

The NPS account can be opened by any Indian citizen.
The minimum age to create an NPS account is 18 years old, with a maximum age limit of 65 years old.
KYC compliance is required of the applicant.
There should be no prior NPS account for the applicant.

National Pension Scheme Required Documents

The following documents are required to enroll in the National Pension Scheme:-

Residence Certificate
Aadhar Card
Birth Certificate This Class X Certificate
Subscriber Registration Form

Types of NPS Account

NPS provides two different types of accounts:

Tier I Account

It’s a basic pension account with withdrawal restrictions.
Only 25% of the contribution can be taken before reaching 60 years of age, while the remaining 75% must be utilized to purchase an annuity from life insurance. An annuity is a set of payments that are made at regular periods. Annuity contracts require the insurer to pay the insured income at regular intervals until his death or the plan’s maturity.
After reaching retirement age (60 years), close to 60% of contributions can be withdrawn, with the remaining 40% being utilized to purchase annuities from approved life insurers.

Tier-II Account

It’s a self-directed savings account from which a person can withdraw money indefinitely.

Also Read: Atal Pension Yojana

Application Procedure for NPS Scheme 2023

The National Pension Scheme is governed by the Pension Fund Regulatory and Development Authority of India. To establish an NPS account, the PFRDA provides both an online and an offline approach. Individuals can use the eNPS online platform or the offline approach to register for the NPS system and get a subscription. Let’s look at how to sign up for an NPS account.

Online Methodology for NPS Scheme

A person may now establish an NPS account in a straightforward and painless manner. It is necessary to link the account to the PAN, Aadhaar, and cellphone number in order to register an NPS account online. Let’s have a look at how to establish an online NPS account.

The applicant first needs to visit the Official Website of the NPS Scheme.

Online Methodology for National Pension Scheme — National Pension Scheme Official Website

The home page will open in front of you.
On the home page, you Open Your NPS Account / Contribute Online and have to click on the link

After this, you have to click on National Pension System.
Now you have to click on the registration button.

Now the registration form will open in front of you.
You have to enter all the important information asked in the registration form like Application Type, Status of Applicant, Register With, Aadhar Number, Mobile Number, etc, and select Tier-1 Only in Account Type.
Now you have to click on Continue.
After this, the complete pending registration form will open in front of you, in which all the necessary information like acknowledgment number, acknowledgment date, first name, date of birth, email address, etc. will have to fill.
Now you have to click on submit.
After this, an e-sign form will open in front of you, in which all the necessary information will have to be fill in, and click on submit.
In this way, your registration process will be completed.

Offline Methodology for NPS Scheme

First, you have to find the POP-Point of Presence.
Now you have to take the subscribe form from POP, you have to fill in all the information asked in this subscriber form carefully. You can subscribe form by clicking on the link given here and also download it.

Offline Methodology National Pension Scheme — Application Form

Now you have to attach all the important documents.
After this, you have to submit this form to POP- Point of Presence. You have to submit this form along with KYC papers.
After this, you will get a reference number from Point of Presence through which you can track your application.
You will need to submit your first contribution when you apply. For this, you will also have to submit an instruction slip that will contain your payment details.

Steps to Activate Tier II

First of all, you have to visit the official website of the NPS Scheme.
Now the home page will open in front of you.
On the home page, you have to click on the link to the National Pension System.
Now you have to click on the Tier II Activation link.

Now a new page will open in front of you in which you will have to enter your Permanent Retirement Account Number, Date of Birth, Permanent Account Number, and Captcha Code.
After this, you have to click on the button Verify PRAN.
Now you have to fill out the e-sign form.
After that, you have to click on the submit button.
In this way, you will be able to get Tier 2 activated.

In the process of searching PFM Wise NAV

The first applicants need to visit the official website of the National Pension Scheme.
Now the home page will open in front of you.
On the home page, you have to click on the option of Subscriber Corner.
After this, you have to click on PMF Wise NAV Search.

Now you have to select PFM.
After that, you have to click on the Go option.
In this way, you will be able to search PFM Wise NAV.

Process to submit FATCA Self Certification

First, you need to visit the official website.
Now the home page will open in front of you.
After this, you have to click on the option of Subscriber Corner.
Now you FATCA self-certification.

After this, you submit online FATCA self-certification
Now a new page will open in front of you.
On this page, you have to enter PRAN and Captcha code.
After that, you have to click on submit option.

Process of viewing the entity in NPS

First, you need to visit the official website of the NPS Scheme.
Now the home page will open in front of you.
On the home page, you have to click on the option of Subscriber Corner.
After this you will get Entities in NPS You have to click on the option.

The process of viewing the entity in National Pension Scheme — Entities In NPS

After this, a new page will open in front of you.
On this page, you will be able to see Entities.

The procedure to calculate corpus

First, you need to visit the official website.
Now the home page will open in front of you.
After this, you have to click on the option of Subscriber Corner.
After this, you have to click on retirement planning

Now a new page will open in front of you.
On this page, you will find Corpus Calculator.

National Pension Scheme procedure to calculate corpus — Corpus Calculator

Now a new page will open in front of you.
On this page, you have to enter the asked information.
Now you have to click on submit option.
The relevant information will be on your computer screen.

The process of getting information related to the annuity service provider

First of all, you have to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on Annuity Service Provider.

Now a new page will open in front of you.
On this page, you will be able to see the information related to Annuity Service Provider.

The process of finding the nearest trustee bank branch

First, you need to visit the official website.
Now the home page will open in front of you.
After this, you have to enter the option of Find Your Nearest Trustee Bank Branch.
As soon as you click on this option, the list of banks will open on your screen.

To find the nearest NLCC

first you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on the option of Find Your Nearest NLCC.
After this, you have to click on the option of Click Here to Download.
As soon as you click on this option, the list of nearest NLCCs will appear on your screen.

The process to find the nearest CRAFT

First, you need to visit the official website.
Now the home page will open in front of you.
After this, you need to click on Find Your Nearest CRAFT

National Pension Scheme process to find the nearest CRAFT — Find Nearest Craft

Now a new page will open in front of you.
On this page, you have to select your city.
After that, you have to click on the Go option.
The relevant information will be on your computer screen.

To-Do D-Remit VID Generation

First of all, you have to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on the link to the National Pension System.
Now you have to click on the link for D-Remit VID Generation.
Now you Continue to have to click on

After this, a form will open in front of you in which you will have to enter the asked information such as Permanent Retirement Account Number, Date of Birth, OTP, and Captcha Code.
After that, you have to click on submit button.
In this way, you will be able to D-Remit VID Generation.

The process of viewing the Annual Transaction Statement

First of all, you need to access the National Pension System’s official website.
Now the home page will open in front of you.
On the home page, you have to click on the link to the National Pension System.
Now you have to click on Annual Transaction Statement on Email

After this, a new form will open in front of you in which you will have to enter your PRAN number and captcha code.
Now you have to click on submit button.
As soon as you click on the submit button, the transaction statement will be sent to your email id.

To login to the portal

First of all, you have to visit the official website.
The home page will open in front of you.
On the home page, you have to click on the login tab.
Now you have to select your category.
After this, the login form will open in front of you.
You will have to enter some of the information asked in the login form such as username, password, and captcha code.
After that, you have to click on the login button.
In this way, you will be able to log in.

To download the NPS app,

First, you have to open Google Play Store or Apple App Store on your mobile phone.
Now you have to enter NPS by NSDL e-gov in the search button.
After this, a list will open in front of you.
You have to click on the option at the top of this list.
Now you have to click on the install button.
Thus you will be able to download the NPS app.

To register Grievance

First, you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on the tab Subscriber Corner.
Now you have to click on Laws Grievance / Inquiry

After this, a new page will open in front of you.
You have to select your category on this page.
After this, the grievance form will open in front of you.
You have to enter all the important information asked in this form.
After that, you have to click on submit button.
In this way, you will be able to file a grievance.

The process to check Grievance Status

First, you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on the tab Subscriber Corner.
Now you have to click on Laws Grievance / Inquiry

After this, you have to go to this section to Track your Grievance / Inquiry.
Now you have to select your category.
After this, a new page will open in front of you in which you will have to enter your reference number.
Now you have to click on the search button.
The Grievance Status will be displayed on your computer screen.

The process of finding your nearest POP-SP

First, you need to visit the official website
Now the home page will open in front of you.
On the home page, you Find your nearest POP-SP

Now a new page will open in front of you in which you have to select your state.
Now you have to select your district.
The information related to your nearest POP-SP will be on your computer screen.

Procedure To Calculate Annuity

First, you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on Annuity Calculator

Now a new page will open in front of you in which you will have to enter all the asked information like your date of birth, gender captcha code, annuity frequency, etc.
Now you have to click on submit button.

Check PRAN card status

First, you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on track PRAN card status.

Now a new page will open in front of you in which you will have to enter the asked information.
Now you have to click on submit button.
PRAN card status will be displayed on your computer screen.

The process to check the PRAN application status

First, you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on PRAN Application Status

Now a new page will open in front of you, in which you will have to select the category.
Now you have to enter the asked information.
After that, you have to click on the search button.

Check the registration and contribution status

First, you need to visit the official website.
Now the home page will open in front of you.
On the home page, you have to click on Registration and Contribution Status.

Now a new page will open in front of you in which you will have to enter the receipt number and captcha code.
After that, you have to click on the search button.
The registration and contribution status will be displayed on your computer screen.

Contact Us

First of all, you have to go to the official website. After visiting the official website, the home page will open in front of you. On this home page, you have to click on the Contact Us link.

You have to click on this option. After clicking on the option, the next page will open in front of you. On this page, you will get all the contact details.

Helpline Number

We have provided you with all the important information related to the National Pension Scheme through this article. If you are still facing any kind of problem then you can solve your problem by contacting on helpline number. The helpline number is 1800110069.

National Pension Scheme 2023- Tier 1 & 2 Registration & Download Statement