Posted by: Girija Gadre on Dec 04, 2017, 12.34 PM IST
The National Pension System (NPS), regulated by the PFRDA, is a defined contribution pension scheme available to all citizens of India. NPS subscribers can access their account through the NPS mobile application.
This application provides various features and allows easy access to the subscriber's retirement funds.
Downloading the app The application NPS by NSDL e-Gov can be downloaded from the App store /Play store on the mobile phone. After downloading, the subscriber must key in the PRAN (Permanent Retirement Account Number) and PIN received with the PRAN welcome kit.
Account details Upon successful login, the total NPS holding value as on date is displayed. It also shows Tier I account and Tier II account holdings of the subscriber. The last five transaction details are also shown. The subscriber can view profile details such as registered mobile number, email id etc. These details can be changed using the application.
Statement requests The subscriber can request account statement and/or transaction statements on email for a particular period. The same will be sent to the subscriber's registered email id.
Tier II withdrawal This is a new functionality in the NPS app. The subscriber can login to the app and request for Tier II withdrawal. On selection of withdrawal option, an OTP is sent to the subscriber. Upon entering the OTP, the subscriber must select the withdrawal specifics-amount or units. Once the selected details are submitted, the CRA will execute the request and requisite amount will get transferred to the subscriber's registered bank account.
Points to note * It is possible to link the subscriber's Aadhaar number using the mobile app. * The subscriber can also reset the profile password by entering PRAN and date of birth to generate an OTP for authentication.