Have you shifted your NPS PoP to eNPS?
We know that shift to eNPS helps reduce the cost of investment by a small margin.
However, once you have shifted to eNPS, you may face a problem in updating details in your NPS account.
After all, now, you don’t have a physical PoP. If you have to submit a form or document, you can’t do it visiting a bank branch (PoP).
As I understand, once you have shifted to eNPS, you have to interact directly with NSDL-CRA (or Karvy CRA as the case may be) for any requirement or to update any information in your NPS account.
In a way, the physical contact goes away. You can’t visit your PoP (or PoP-SP) to update information in your account. Everything needs to be done online on eNPS portal. Supporting documents, if any, will have to be sent to CRA address.
Let’s see what you can do on eNPS portal.
What can you update on eNPS portal?
You can update the following on the portal itself.
- Mobile Number
- E-mail Id
- Telephone Number
- Aadhaar Details
You may have to send documentary evidence for updating the Address.
If you need to update any other details, you will have to fill up Annexure S2 form and submit to your PoP-SP. In case of eNPS, since there is no physical PoP, you can send the form (along with supporting documents) to NSDL CRA address.
You can download the form from this link.
You can also initiate following requests through eNPS portal:
- Shift PoP to eNPS (only if your existing account is under All Citizens Model)
- Initiate withdrawal request (subject to existing NPS rules)
- Switch funds from NPS Tier II to NPS Tier I account
- Change Pension Fund Manager (Say from ICICI Prudential to HDFC Life)
- Change Scheme Preference (say from Active to Auto or vice-versa)
- Change Allocation (Equities, Corporate Debt, Government Securities) under the Active Mode
- Reprint of PRAN card
- Defer withdrawal at the time of retirement
- Make Online Contribution
- View account details and portfolio statements
You will have to browse through various menus to access these options.
You can seek information about your doubts on eNPS portal itself
I do not know everything about how eNPS works. And our queries can be anyything under the sun.
How do you find a solution?
If you have shifted to eNPS and need any information and have any grievance, you can raise an inquiry or report grievance from the eNPS portal. My experience suggests that you can expect a swift response too.
Point to Note about eNPS
Anybody who has an NPS account can register on eNPS portal and view portfolio or make an online contribution. Irrespective of whether you are a Government, Corporate or All Citizens subscriber, you can register on eNPS portal.
However, please understand shifting your NPS account to eNPS is different from making contributions online through eNPS.
When you simply register on eNPS (for an existing account) and only make online contributions, you are still associated with a physical PoP (say a bank branch). You incur charges accordingly.
However, if you open your account on eNPS portal using Aadhaar card, your PoP is eNPS. Alternatively, you can shift your existing NPS account from a PoP to eNPS.
Do note eNPS (as PoP) comes under All Citizens model. If your NPS account is under All Citizens model (under some other PoP), you can simply register on eNPS portal and shift your PoP to eNPS with click of a mouse.
On the other hand, if you had your account opened under Corporate Sector NPS or Government Sector NPS, you need to go through a detailed procedure of filling out Form ISS-1 to shift sectors in NPS.
I have received many queries about Corporate or Government NPS subscribers wanting to shift to eNPS (under All Citizens Model). However, for your employer to contribute to NPS account, it needs to be under Corporate or Government model.
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