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NPS Statement Download Online: FAQs and Tips


How to Download NPS Statement Online




National Pension System (NPS) is a voluntary and long-term investment plan for retirement under the purview of the Pension Fund Regulatory and Development Authority (PFRDA) and the Central Government. It is open to all Indian citizens between 18 and 70 years of age, who can contribute to their NPS account regularly and get a monthly pension after retirement. In this article, we will explain what is NPS, how to check NPS balance, and how to open NPS account online.


What is NPS?




NPS stands for Net Promoter Score which is a metric used in customer experience programs. NPS measures the loyalty of customers to a company by asking them one question: On a scale from 0 to 10, how likely are you to recommend this product/company to a friend or colleague? The higher the score, the more satisfied and loyal the customers are.




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Benefits of NPS




NPS offers several benefits to its subscribers, such as:


  • Tax benefits: NPS contributions are eligible for tax deductions under Section 80C and Section 80CCD(1B) of the Income Tax Act, 1961. The maximum deduction allowed under Section 80C is Rs. 1.5 lakh, while an additional deduction of Rs. 50,000 is allowed under Section 80CCD(1B). Moreover, employer contributions to NPS are also exempt from tax up to 10% of salary under Section 80CCD(2).



  • Market-linked returns: NPS invests in various asset classes such as equity, corporate bonds, government securities, and alternative investments. The subscribers can choose their own asset allocation and fund manager according to their risk appetite and return expectations. The returns from NPS are market-linked and may vary depending on the performance of the underlying assets.



  • Flexibility and portability: NPS subscribers can switch their fund manager or asset allocation once a year without any charges. They can also change their personal details, nomination, or scheme preference online through the eNPS portal. Moreover, NPS accounts are portable across jobs and locations, which means that subscribers can continue their NPS account even if they change their employer or move to another city or country.



  • Low cost and transparent: NPS charges a very low fund management fee of 0.01% per annum, which is one of the lowest in the world. The charges for other services such as account opening, maintenance, transaction, etc. are also nominal and transparent. The subscribers can access their account details, transaction history, portfolio composition, etc. online through the eNPS portal or mobile app.



Types of NPS accounts




NPS offers two types of accounts to its subscribers:


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TypeDescription


Tier IThis is the primary account that is mandatory for all NPS subscribers. It has a lock-in period till the age of 60 years, after which the subscribers can withdraw up to 60% of the corpus as lump sum and invest the remaining 40% in annuities to get a regular pension. The minimum annual contribution for Tier I account is Rs. 1,000.


Tier IIThis is an optional account that is available only to Tier I subscribers. It has no lock-in period and the subscribers can withdraw their money anytime. It is suitable for those who want to invest in NPS for short-term goals or as a savings account. The minimum contribution for Tier II account is Rs. 250.


How to check NPS balance




NPS subscribers can check their NPS balance and download their NPS statement online through various methods, such as:


Online methods




The online methods to check NPS balance and download NPS statement are:


Through CRA website




CRA stands for Central Recordkeeping Agency, which is responsible for maintaining the records of all NPS subscribers. The CRA website is https://cra-nsdl.com/CRA/. The steps to check NPS balance and download NPS statement through CRA website are:


  • Visit the CRA website and click on "Login with PRAN/IPIN".



  • Enter your PRAN (Permanent Retirement Account Number) and IPIN (Internet Personal Identification Number) and click on "Submit".



  • After logging in, click on "Transaction Statement" and select "Holding Statement".



  • You will see your NPS balance and the details of your investments in various schemes.



  • You can also download your NPS statement by clicking on "Download/Print Statement".



Through NPS mobile app




NPS mobile app is a convenient way to access your NPS account on your smartphone. You can download the app from Google Play Store or Apple App Store. The steps to check NPS balance and download NPS statement through NPS mobile app are:


  • Open the app and enter your PRAN and password.



  • Tap on "View Current Holdings" to see your NPS balance and the details of your investments in various schemes.



  • Tap on "Statement" to view or download your NPS statement.



Through UMANG app




UMANG stands for Unified Mobile Application for New-age Governance, which is a platform that provides access to various government services. You can download the app from Google Play Store or Apple App Store. The steps to check NPS balance and download NPS statement through UMANG app are:


  • Open the app and select "NPS" from the list of services.



  • Enter your PRAN and password.



  • Tap on "View Current Holdings" to see your NPS balance and the details of your investments in various schemes.



  • Tap on "Statement" to view or download your NPS statement.



Through SMS




You can also check your NPS balance by sending an SMS to 9212993399 from your registered mobile number. The format of the SMS is: BAL PRAN DOB (in DDMMYYYY format). For example, BAL 123456789012 01011980. You will receive an SMS with your NPS balance and the last contribution date.


Offline methods




The offline methods to check NPS balance are:


Through PRAN kit




When you open an NPS account, you will receive a PRAN kit that contains your PRAN card, IPIN, TPIN, and a subscriber information brochure. You can check your NPS balance by using your IPIN and TPIN to access the IVR system of the CRA at 1800-222-080.


Through annual statement




You will also receive an annual statement of your NPS account by post or email from the CRA. The statement will show your NPS balance, contributions, returns, and charges for the financial year.


How to open NPS account online




If you want to open an NPS account online, you can do so through the eNPS portal at https://enps.nsdl.com/eNPS/NationalPensionSystem.html. You will need a PAN card, an Aadhaar card, a bank account, and a mobile number linked with Aadhaar.


Steps for online account opening




The steps for online account opening are:


  • Visit the eNPS portal and click on "Registration".



  • Select "New Registration" and choose "Individual Subscriber".



  • Select "Aadhaar Offline e-KYC Mode" and enter your PAN, Aadhaar number, and captcha code.



  • Click on "Generate Aadhaar Offline e-KYC" and download the XML file.



  • Upload the XML file and enter the OTP received on your mobile number.



  • Fill in your personal details, contact details, bank details, and nominee details.



  • Select your pension fund manager, investment option, and asset allocation for your NPS account.



  • Make your initial contribution of at least Rs. 500 through net banking, debit card, or credit card.



  • Download and print the NPS registration form and affix your photograph and signature.



  • Send the form to the CRA within 90 days of registration.



Documents required for online account opening




The documents required for online account opening are:


  • PAN card



  • Aadhaar card



  • Bank account details



  • Scanned photograph and signature



  • Aadhaar offline e-KYC XML file



Conclusion




NPS is a great way to save for your retirement and enjoy tax benefits. You can easily check your NPS balance and download your NPS statement online through various methods. You can also open an NPS account online through the eNPS portal with a few simple steps. If you have any queries or doubts about NPS, you can refer to the FAQs below or visit the official website of NPS at https://www.npscra.nsdl.co.in/.


FAQs




Here are some frequently asked questions about NPS:


  • What is the minimum and maximum age to join NPS?



The minimum age to join NPS is 18 years and the maximum age is 70 years.


  • What is the minimum and maximum contribution for NPS?



The minimum contribution for Tier I account is Rs. 500 per transaction and Rs. 1,000 per year. The maximum contribution for Tier I account is Rs. 2.5 lakh per year. The minimum contribution for Tier II account is Rs. 250 per transaction and Rs. 1,000 per year. There is no maximum limit for Tier II account.


  • How can I change my fund manager or asset allocation in NPS?



You can change your fund manager or asset allocation once a year through the eNPS portal or by submitting a physical form to your POP (Point of Presence).


  • How can I withdraw money from my NPS account?



You can withdraw money from your Tier II account anytime without any restrictions. You can withdraw money from your Tier I account only after attaining the age of 60 years or in case of premature exit (before 60 years) with certain conditions.


  • How will I get pension from my NPS account?



You will get pension from your NPS account after you invest at least 40% of your corpus in annuities from an annuity service provider (ASP) approved by PFRDA.




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