In this post, let’s discuss the new developments in National Pension Scheme (NPS).
Introduction of Karvy as CRA
A CRA does not back-office work and performs administrative and customer service operations. In addition, it interfaces with different entities in NPS system.
Earlier, NSDL was the only Central Record-Keeping Agency (CRA). In January 2017, PFRDA allowed Karvy as the second CRA. I assume this was done to increase competition in this space.
And this has begun to show results.
NSDL has already reduced its charges from April 1, 2017. Therefore, I think it is a good development. I hope the competition will improve service levels too.
Among the various charges that you incur for maintaining an NPS account, the two prominent (and the explicit) ones are:
- CRA charges (NSDL or Karvy will be CRA)
- PoP (Point of Presence). Depends on where you opened your NPS account
Investment management fee etc. is beyond your control.
Source: NPS Trust Website
CRA has three types of charges:
- Account opening (one-time)
- Annual maintenance (annual)
- Transaction charges (per transaction)
PFRDA has also spoken of portability of your NPS between CRAs. However, I see no reason why you should change your CRA. You can see the difference in CRA charges is not really meaningful.
Read: What are the various charges incurred while investing in NPS?
A much bigger focus area should be PoP charges, which are a percentage of your transaction amount (0.25% of transaction amount). If you can save on PoP charges, you can add to your returns to some extent.
Point to Note
The charges in NPS are transaction based and not asset based.
This means you do not have to pay charges on the basis of your NPS corpus but on the basis of your transaction size.
Therefore, the presence of PoP (Point of Presence) does not hamper your returns as much.
Contrast with regular and direct plans of MF schemes. In case of mutual funds, the intermediary charges are a percentage of your fund corpus. Therefore, the cost of a financial intermediary can be very high.
Opening NPS Account Online and avoiding PoP charges
If you want to open an NPS account online, you can open either through Karvy eNPS website and NSDL eNPS website. In an earlier post, I had discussed how to open your NPS account online using Aadhaar card (on NSDL website)
Read: How to open NPS account online using Aadhaar card?
Do note you can open NPS account online through bank and broker websites such as ICICIDirect too. However, in such cases, the respective banks or the broker will act as Point-of-Presence and will earn a commission (PoP charges) when you transact.
By bypassing the PoP (by opening NPS account directly through CRA websites), you can save on PoP Charges.
When you open NPS account directly through NSDL (I believe it will be similar in case of Karvy too), your PoP will be eNPS (which is the default for accounts opened online on NSDL CRA website). There are no PoP charges in case of eNPS.
You can make contributions through eNPS portal even if you have opened your NPS account through a PoP (say a bank branch). However, in that case, you will have still have to incur a reduced service charge of 0.05% of transaction amount (this is lower than 0.25%if you have invested through PoP).
You can now shift to eNPS
Till about a few months back, you could not shift your PoP to eNPS i.e. eNPS could not be your target PoP. I had mentioned this aspect in my earlier post of shifting NPS account.
If you shift to eNPS, you can avoid PoP charges (as there are no charges expect payment gateway charges if eNPS is your PoP).
Recently, when I logged into eNPS portal, I could see the option “Shift to NPS”
I had opened NPS account using Aadhaar on CRA portal only. I couldn’t test the functionality since I was already on eNPS.
I checked with NSDL CRA team. They confirmed that the shift to eNPS portal was allowed.
Therefore, if you had been planning to shift PoP to eNPS, you can do it now.
Please understand I have not tried this functionality. Therefore, I cannot comment on operational specifics.
If you have tried the shift, do let me know about your experience in the comments section.
254 thoughts on “NPS Updates: A new CRA and Shift to eNPS is now allowed”
Yesterday i noticed this option and I have shifted my PoP to eNPS and it worked like a charm. Then i googled and found that only your website has some reference to this feature. So i’m commenting here so that everyone can benefit from this feature.
That’s great Prabhu.
Thanks for sharing your experience. Really appreciate your input.
In fact, one of the readers had pointed out this option to me in a comment.
So, does it happen with a click of mouse or you have to upload a few documents?
Dear sir,
thank you for sharing this much details on NPS. but shifting to eNPS is not batter solution for those who do not pay on time. Because after shifting form pop sp to eNPS the auto debit option will no longer work. so each month we have to pay it manually.
i did the same and come to eNPS. but now searching the solution for auto debit. also for going back to popsp you have to follow long process.
do you have any solution so the we can maintain our regularity to pay on time in ENPS
No documents whatsoever. I tried this in the evening and could do with the help of an OTP. On very next day, I received confirmation that it’s been done. Very easy and simple!
Hi,
Day before yesterday ,I had contributed 5k through online SBI to NPS .(I am not shifted to eNPS)
But I didn’t get any update regarding this current contribution on nps site (cra-nsdl.com) .
May I know , how much time it will take ?
Please advise.
Wait for a few days. Should have come by now.
I shifted to eNPS successfully from HDFC Securities. I already given ECS to hdfc securities for monthly 4000. (20 + service tax will be reduced as pop charges and remain will be invested). Will this change affect ECS or pop charges.?
Hi Thiru,
As I understand, if you continue to invest through HDFC securities, you will still have to pay the PoP charges.
Btw, I assume that’s possible. Just as it was possible to invest through eNPS (while your PoP was some other entity).
Therefore, the limited benefit (or whatever it is) of changing PoP comes if you invest through eNPS portal.
Dear Deepesh
Great blog and very useful. One question: for ENPS i see that the POP charges are 0.05%. Is there a cap? Using Bank POPs there is a cap of 25k. If there is no POP charges cap for investing thru ENPS, it means that if you invest more than Rs. 1 crore at one go, then you are better off using a Bank POP.
Anyone has any idea about this?
Thanks
Manoj
Dear Manoj,
PoP charges are capped, irrespective of the mode you invest.
Btw, PoP charges on investing through eNPS are applicable if you opened your account through a PoP.
If you opened your account directly through eNPS portal, there is no PoP charge.
I have shifted my NPS to eNPS using this new option from menu, it is very simple, I will just ask for OTP and will take only one day to reflect on accout.
I am just curious about what POP charges I will save after eNPS shifting. I just checked my statement and found that around 60 rs has deducted on every quater saying “Billing for Q4, 2016-2017” so what are these charges and who is deducting this?
Hi Maitrik,
Thanks for your input.
Please refer the attached image about charges.
CRA charges and fund management charges will still be applicable.
You will save on PoP charges.
Hey Deepesh, my present PoP is ICICI bank. I do Contributions, so in this case only SBI e gateway charges are applicable (I guess) and 0.05% is given by NSDL to ICICI as PoP serviced subscriber. Is that correct?
If I change to eNPS, how can I contact them for any scheme change, or nominee change etc admin work? Is it all online? Also at the retirement, guess by then everything will be online.
There are gateway charges for investing through ICICI Bank as PoP? A bit surprising to me.
There should be only PoP charges. I know about ICICI direct. The charges are upfront (not passed back by NSDL).
With eNPS, everything is online. If any change requires documentary evidence, you can send by mail to NSDL.
At present gateway available is SBI epay and Bill desk. SBI epay charge less as ICICI is added recently in list of internet banking through which you can pay contribution. Bill desk charges are little higher and contribution made via Bill Desk will take more time to clear funds and ultimately investing little latter than paying via SBI epay.
Everyone should complain why cant we get same date NAV when we paid contribution as we get for MF.
Yes Agreed. Even i had raised this points with NSDL
e-contributions*
Hello Deepesh,
I have been trying to switch to eNPS via the same link at https://cra-nsdl.com/, but every time i get this error after entering the OTP…”We are unable to process your request at the moment. Please try again in some time.”. not sure what is wrong. Could you advise how can I switch…any other link?
Thanks & Regards
Anuj Verma
Hi Anuj,
May be a technical issue.
Try after a couple of days.
If it does not still work, contact NSDL.
Hi Anuj,
I encountered the same issue multiple times and could do it today only. I had raised grievances online and got a reply from CRA (NSDL) about issue resolved. There was technical glitch and has been resolved.
Regards,
I was able to switch e-NPS with this option
I will invest some amount tomorrow and see how I was benefited
I hope ,I do not need to pay POP charges anymore
Sure. Do let me know too.
I doubt there will be PoP charges
Hi Deepesh,
I have a query, if i shift from NPS to eNPS will HDFC securities manage my investments as earlier or i have to manage it at my end only.
Also if i want to put my Money on better rate ie currently ICICI is going on better rate then HDFC then what do i need to do for that. Do i need to shift my PoP or any other way.
Thanks
Ravinder Kumar
Hi Ravinder,
HDFC Securities is merely a PoP. It does not manage your investments.
Can’t say if you will still be able to view your investments in HDFC Securities.
Didn’t understand the second part of your question.
Guys,
i clicked shift to eNPS button and since then status of my account is shown suspended. I am also not allowed to contribute. Will it take some time to get the status changed? or I have to contact my PoP – ICICI Bank.
Please contact PoP or NSDL CRA.
Hi Pavan, did you got it resolved? I have also got the same status. Please help
I also face the same problem, my account status is now showing as suspended. Is it resolved for any one?
Hi Kalpesh,
Please talk to NSDL. You can call them at 1800 22 2080.
I just noticed that Switch to eNPS account today and clicked it. It said it will be done by next day. I also need to change the bank account as the one attached to NPS was closed long time back. Not sure if eNPS allows it online or not.
You can make a contribution from any account.
About the update, suggest you drop your query under Grievance/Enquiry request.
eNPS switch happened the next day. I was also able to change the bank account details online using grievance mechanism. As per the instruction I received, I have to write a letter, sign it, scan it and upload it along with my new bank account statement. Once uploaded they changed the bank details in 2 days.
Wow!!! That’s great!!!
where did you upload the Signed document or letter. In Grievance section itself?
Dear sir I opened online nps account. I am new state government employee. I want shift my account all citizen of India to state government (karnataka). I am already given 2 times Iss form in our district treasury office but he don’t know how to shift. Because my date of joining and date of retirement not maintion in all citizen of india pls give me solution. No salary in 8 months pls help me. Thank u
Please give your mobile number ,I will help you
I CHANGE MY POP SP (SBI) TO eNPS,, NOW I WANT TO CHANGE MY PERSONAL DETAILS ( MY NOMINEE AND MY BANK DETAILS), WHAT IS THE PROCIDURE ? CAN I CONTACT WITH MY OLD POP SP (SBI)?
I have the same query. Not sure how to proceed with this.
Any expert opinion appreciated.
Thanks
You have to do this on eNPS portal. You may have to send any supporting documents by mail.
I tried, but it says your photo and signature is not available. I’ve recently opened my account and successfully made contribution through enps. What it means?
Raise a complaint on the eNPS portal.
Hi,
Did you shift to eNPS ?
I am facing same problem as you.
Did your problem solved, i am facing the same issue
I had opened NPS account through the enps portal and not trough any pop. However, I have still tried clicking on Shift to enps option and that shows the following message ” Request can be Captured/Authorized only during Business hours.”.
If karvy charges are less, is it possible to shift CRA?
Also, is there a way of making systematic contributions to NPS?
I assume you have opened through eNPS portal using bank details nad PAN card.
With Aadhaar card, you are already on eNPS. There is no need to shift.
As I understand, there is no provision currently to shift CRA. This feature may come in the future.
However, in my opinion, the difference in charges in not that high to make a meaningful difference.
About systematic contributions, there is no such feature on eNPS portal. Respective broker or individual sites may allow this.
About systematic contributions, there is no such feature on eNPS portal. Respective broker or individual sites may allow this.
as you mention that respective broker and individule sites allowd the systematic contributions can you describe and give the example please. because is really matter for long term.
Hi Bharat,
Sites like ICICIDirect etc may allow this.
Hi Deepesh, I have been a long time reader of your blog and this is my is my 1st comment. You are doing a great job in educating and informing blog readers like me. Honest, Knowledgeable and upfront. May you and your tribe (Subramoney, Jagoinvestor, Prof. Pattabiraman, basunivesh et al) prosper.
Reg the switch to eNPS, I did it without a glitch about a month back. ICICI Direct was my PoP. Post switching did a trial transfer and was charged 70 paise or so. A strange thing; even today I can view my holdings in NPS via ICICI Direct website too..!!
Hi Ramgee,
Thank you for your kind words.
And really good to see your first comment.
Will appreciate greater interaction and insightful feedback.
Frankly, reader comments and interaction bring a blog to life.
Please do share the post you like with your friends.
About seeing your investments in ICICIDirect, it depends on how NPS is sharing info with PoPs.
Quite possible PoPs continue to get info if the accounts are opened through them.
I believe, so long as charges are for eNPS, you should be ok.
In any case, there are no asset based charges in NPS (only transaction based charges).
So, if you have been charged lower transaction charges, relax.
Dear Sir,
Could you please share the process of changing the nomination details.
I have a private NPS Account of Tier I
Hi Punit,
Let me get back to you on this.
I have raised a request with NSDL to see if this can be done online.
For offline request, you can submit annexure S2 to PoP.
https://npscra.nsdl.co.in/download/government-sector/corporate/forms/Form-for-correctio-or-change-in-Subscribers-Master-CS-S2.pdf
Hi Punit,
This is the response I got from CRA.
Dear Subscriber, we wish to inform you that to update or modify nominee details, you are requested to provide us the written request (Duly signed by you). Based on which, CRA will update the details in your PRAN. You are requested to send us the letter at the below mentioned address:eNPS CellNSDL e-Governance Infrastructure Limited1st Floor, Times Tower,Kamala Mills Compound,Senapati Bapat Marg, Lower Parel,Mumbai – 400 013You may also scan and upload the written request while raising the online grievance.We hope this clarifies the matter and thank you for being our valuable Subscriber.
I would like to know if one can withdraw online from one’s tier-II NPS account in e-nps , without submitting any paper form UOS-12. . Presently I-Direct offers this facility at normal POP charges.
I can see the option in eNPS portal. Haven’t tried it myself.
You need to select “Exit Withdrawal Request” on the top bar and take requisite steps.
I think “Exit Withdrawal Request” is meant for exiting NPS totally, not for partial withdrawal from Tier-II. This menu is available in CRA-NSDL site too.
Once this option is provided, tier-II becomes quite powerful (like a savings account with MF type returns)
I could select withdrawal from NPS Tier-II too.
We have a difference of opinion in whether one should invest in NPS-Tier II.
I wouldn’t advise to invest in NPS Tier-II.
I am regularly contributing via eNPS, today
I noticed NSDL has doubled service charges from 0.05% to 0.10% + GST, Additional are Payment Gateways charges.
I assume as a minimum courtesy, there should have a flasher or some other medium to inform the members/public about doubling of charges.
Hi Anil,
I understand your concern but that’s how the Government and the regulators work.
Btw, you can shift to eNPS and avoid such charges.
The charges are when your account is with another PoP and you make contributions through eNPS.
Thanks a lot Dear Deepesh
Hi Deepesh
I am 60 + . I have continued my NPS tier 1’for now . I have shifted to enps . Can you please let me know how to intiate complete withdrawal as admissible do I have to send any forms or whether everything can be done online . please guide me .
Dear Sir,
There is a separate post for this topic.
Suggest you go through the following post.
https://www.personalfinanceplan.in/opinion/how-to-exit-nps/
I do not have deep clarity about the entire process. However, follow the process.
You can also raise issues you face to helpdesk in the eNPS portal.
Hope the answer helps.
Hello Deepesh,
There is monthely deduction of 2000 going on in my NPS. CAMS is deducting 27 Rs per month. I f changes this to eNPS will I save this amount from CAMS as POP charges,
Thanks in Advance
Hi Arvind,
Yes, you will save on PoP charges by shifting to eNPS.
Alternatively, you can simply contribute through eNPS. You will only have to pay service charge (0.1% of transaction amount) and not Rs 25 per transaction.
Hi Deepesh
First of all I would like to congratulate you for such a good interactive online forum.
I have a doubt:
I had an ECS from SBI towards NPS remittance on monthly basis. If I move to e NPS will that ECS be closed? If not what shall I do to get it closed and fully depend e NPS sytem for full remittances as well?
Kindly advise
Thanks Chris!!!
About ECS, can’t say for sure. How did you start this auto-debit mandate?
I mean, did you set up on bank website of signed a form and gave it to somebody?
Dear Deepesh,
I signed a few papers that CAMS gave me. They don’t service any more. That is why I clicked for e NPS. I think e NPS is active. Kindly advise please
Hi Chris,
OK.
If you have shifted to eNPS, you just need to see if this month’s installment goes through or not.
If nothing happens, the mandate is not working.
If it is working, you can always cancel the ECS mandate from your bank.
hi what is the update after that your ecs is working on not
if we remove POP to eNPS, who will be our POP, where we will go for any changes, issues, which office we will go? any idea??
You will need to raise your queries/grievances on eNPS portal.
Thanks deepesh. Is it true that PFM charges will be increased in coming future like SBI- 0.07 , hdfc- 0.1%, currently all charge a fix 0.01%, NPS PFM charges are increasing, not good.
that is possible. Charges are too low for active management.
Hi – I just shifted to eNPS and the website displayed request was captured and would be effective from next business day. The account status now displays suspended. Is this normal?
Not normal. But wait for a few days.
Hi Deepesh,
I shifted to eNPS yesterday, but even today, the account is suspended, how many days it take for activation?
May take some time for the change to happen.
If this does not happen in a few days, raise a complaint on eNPS portal.
Or you can call up NSDL CRA.
Hi Deepesh,
It was done today. Took 3 days. Thanks.
I have HDFC Sec as my POP. And I changed to UOS after I resigned from my job ( I am 59). I noticed 23/- is deducted each time I make contribution through HDFC POP. Whereas making contribution through eNPS portal, about 10/- to 20/- is charged (depending on the Payment Gateway / Debit Card / Card Card chosen) . So my question is if I move out from POP to eNPS will I save anything making contribution through eNPS portal ? That is will the charges be lesser ? If not then I guess it does not matter if one changes to eNPS or not. Because in any case, one can make contribution through eNPS portal (the contribution appearing as voluntary in the narration) and do not make any contribution through POP. Is my understanding correct ? Can anyone please help
Arup Das
Dear Sir,
There are two types of charges that we are looking at:
1. Payment gateway charges
2. PoP charges
Whenever you make a payment through eNPS, payment gateway charges will always be applicable. The charges are lower for net banking and higher for debit card and credit card.
For PoP charges, if HDFC sec is your PoP and you are contributing through eNPS, you will have to bear service charge of 0.1% of the contribution amount.
If you contribute through HDFC sec, PoP charge of 0.25% will be applicable.
PoP charge or the service charge is not applicable if eNPS is your PoP.
Hello,
My experience with KFINTECH will probably change our understanding about whole system.
2 days back, I registered eNPS(KFINTECH) directly. I was expecting that I can evade pop charges by doing so.
But they charged 125 for registration and for each transaction 0.1% minimum 10 rupees for POP eNPS charges.
This is not alligned with what we know, is it a kind using system loopholes. I can see my pop as KFINTECH pop on my NPS page.
Please suggest.. Thanks
Dear Deepesh Raghaw,
Many thanks for your guidance.
I have tried shifting the PoP of my spouse’s NPS account to eNPS and go the message as below:
“Your request for shifting to eNPS has been captured and will be effective from next day.”
When I transferred money from my ICICI Bank Account to NPS (through Bill Payment option – Adding NPS as Biller), I use to get deduction of Rs 23.0 and Rs. 23.6 for investment of Rs. 10,000 and Rs. 20,000 respectively.
1. Now with eNPS, what should I expect? Will there be some deductions and how much money shall be deducted before remaining amount is invested in NPS?
2. What can we do to ensure that units with the NAV of date of investment is allocated to us?
3. Now I wish to change my POS from ICICI Direct to NPS. I have already enforced a SIP like mechanism where Rs. 5000/- per month are deducted from my bank account attached to ICICI Direct. In this case, for every instalment of Rs. 5000/-, Rs. 23.60 are additionally deducted. If I change this to eNPS, what charges should I expect? Will there be ‘SIP’ auto-debit still applicable when I change my POS from ICICI Direct to eNPS?
Kind Regards,
Manu
Dear Manu,
The PoP charges would have been Rs 20 + GST (or service tax) as the case may be.
If you merely invest through eNPS, a service charge of 0.1% will still be applicable. This charge will go to PoP.
If you switch to eNPS, PoP charges will go away.
Do note CRA and payment gateway charges will still be applicable.
Not sure if the auto-debit will work or the charges if the sane auto-debt continues to work.
Dear Deepesh,
I see no difference here:
If I invest using ICICI Bank Account to NPS (Adding NPS as Biller): Rs. 23.60 is deducted for upto 20,000. For investing 50,000, it could be Rs. 50 + tax.
If I invest through eNPS, a service charge of 0.1% will still be applicable. For 50,000, 0.1% is also Rs. 50 + tax.
Please suggest where am I going wrong in understanding?
Thanks
Manu
Dear Manu,
For investment through PoP, the charge is 0.25% subject to a minimum of Rs 20.
With eNPS (if you are with same PoP), service charge is 0.1%.
If you switch to eNPS, there shall be no such charge. Payment gateway charges will be applicable, however.
Dear Deepesh ji.
A lot of thanks for your valuable coments.
I hv opened my nps ac by pop sbi my name spelling sent by pop to cra is little wrong . The account opening form has correct spelling online printed by sbi banking portal which I sent to cra . Now I requested to cra for correction of my name they said me to go with correction form to sbi my pop . But on pop window other corrections are possible but name cell is disabled . Now suggest what to do for name correction. If I shift to end then is it will be easier to make correction. Please guide me. Thanks and regards . SANJAI SAXENA.
Dear Deepesh ji.
A lot of thanks for your valuable coments.
I hv opened my nps ac by pop sbi my name spelling sent by pop to cra is little wrong . The account opening form has correct spelling online printed by sbi banking portal which I sent to cra . Now I requested to cra for correction of my name they said me to go with correction form to sbi my pop . But on pop window other corrections are possible but name cell is disabled . Now suggest what to do for name correction. If I shift to enps then is it will be easier to make correction. Please guide me. Thanks and regards . SANJAI SAXENA.
Dear Sanjai,
Not sure who made the mistake.
Anyways, why don’t you contact SBI for this and submit requisite form?
Form S2 is the relevant form.
Sir I hv done so on this form and sbi people tried to change my name spelling but it is found that in the correction window the name cell was disabled to be corrected so they(.Sbi ) can’t correct .and CRA is continuously saying in reply of my grievance to go to sbi pop. Now how and who will rectify this. Pl guide me. Thanks.
Hi Sanjai,
If the issue is with SBI portal, then SBI needs to change their system.
If the issue is with CRA, then CRA needs to change it.
I believe the mess up is at SBI end.
Suggest you write an e-mail to SBI Chairman. It should get resolved fairly soon.
Sir if I shift my nose ac to enps then can crack change my name spelling on producing my documents without any intervien of pop.
Sanjai Saxena.
Think you can do that.
Hi Deepesh,
I tried to change my NPS account from POP to eNPS. However in my login switch to eNPS option is not there. However rest all options like scheme preference change, one way switch etc are there. Can you pls advice that how can I shift to eNPS.
Hi Ashish,
you have account under All Citizens model, right?
It was opened under all citizen model but later on shifted to corporate model.
Hi Ashish,
You changed your job?
If you change to All Citizens, your company can’t contribute to the account.
In any case, if you want to shift, you need to fill up form ISS-1.
Suggest you go through the following post.
https://www.personalfinanceplan.in/opinion/how-to-shift-nps-account/
Can I shift my Central govt PRAN to State Govt PRAN through online or not
I don’t think so. You will have to fill form ISS-1.
Due to “Shift to eNps” option, we are getting notification by saying that Target POP-SP Reg. No. #: 6396950. May I please know what is this? Earlier my account POP is HDFC? would that be going to change to new POP Reg. No. #: 6396950? I know that one major benefit due to eNPS is while we contribute to NPS account we are not going to pay huge charges. Apart are their any benefits?
No other benefit except for lower charges.
Yes, that’s your new PoP.
I wanted to shift from PoP to eNPS, tried today on portal however option is not available.
Hi Dheeraj,
How did you open your NPS account?
Is your account under Government or Corporate sector NPS?
I opened through ICICI bank. It is under Coporate sector. Does it matter which sector it is for shift to eNPS?
eNPS is all Citizens model. Therefore, you are essentially shifting sectors. For that, you will need to fill Form ISS-1.
Btw, if you shift to eNPS, your employer will not be able to make contributions to your account.
Hi
when i want to shift my NPS account into ENPS which show this message “Your account is already mapped to nps trust” but i want to know why charges has been deducted from my account in the name of Billing for Q4, 2016-2017 type charges. So what is this & how can i minimise these charges? plz send me reply on my mail id also i will be very grate full & thankfull for your support..my mail id cagirishjoshi@gmail.com
These charges can not be minimized. These are the charges being collected for the investment management purpose from everyone every quarter. Your Fund is collecting these charges, for example you have chosen HDFC as your fund manager.
Thanks Dheeraj for your inputs.
Hi
I just changed from POP to ENPS, but i got a message “Your request for mapping to NPS Trust is pending”. And checked the status of my account which showed “Suspended”. Could you please let me know by when this will get activated.
I have also done some investment before changing, does that get reflected into my account.
Thanks in advance for clarifying.
Regards
Rohith
Hi Rohith,
Difficult for me to comment.
However, wait for a few days.
If the issue does not get resolved, please contact NSDL CRA.
How to shift nps account opened in central government sector to enps
Hi Remya,
eNPS is all citizen’s model.
So long as you are working with the central government, you can’t shift.
I resigned from department. How will I shift my PRAN to eNPS
Suggest you go through the following post.
https://www.personalfinanceplan.in/opinion/how-to-shift-nps-account/
Hi Deepesh,
Is there any difference between eNPS from NSDL and Karvy Computers? If I have received PRAN number from Karvy Computers, can it be used to make a contribution from NSDL site?
Hi Nitin,
Karvy and NSDL are different CRAs.
SO, if you opened through Karvy, you have to make contribution from Karvy website.
There is not much difference between Karvy and NSDL.
i have opened NPS account through Jan Sewa Kendra (CSC) in my village. can i make contributions through eNPS. i have already PRAN No & Card but it not support to eNPS website. what should i do for this
You will have to register on eNPS portal.
Suggest you go through the following post.
https://www.personalfinanceplan.in/financial-planning/invest-nps-account-online/
Dear sir,
thank you for sharing this much details on NPS. but shifting to eNPS is not batter solution for those who do not pay on time. Because after shifting form pop sp to eNPS the auto debit option will no longer work. so each month we have to pay it manually.
i did the same and come to eNPS. but now searching the solution for auto debit. also for going back to popsp you have to follow long process.
do you have any solution so the we can maintain our regularity to pay on time in ENPS
I don’t have any solution, Bharat.
As I see, there is no auto-debit option in eNPS.
Hi Sir,
We are unable to process your request at the moment. Please try again in some time. Error displayed while trying to shift to eNPS. What to do?
Thanks and Regards
Manoj
Did you try again after some time? Talk to NSDL if this does not work.
I CHANGE MY POP SP (SBI) TO eNPS,, NOW I WANT TO CHANGE MY PERSONAL DETAILS WHAT IS THE PROC CAN I CONTACT WITH MY OLD POP SP (SBI)?
I changed by POP-SP (SBI) to eNPS. Now the status shows suspended. I’m waiting for some working days because I did the shifting on a weekend. Now I wish to update my personal details (adding last-name and middle name). Can I contact SBI for the same or what is the procedure when I’m with eNPS ?
Thanks,
Titto,
You have to do through eNPS portal.
I have a query. I have shifted to eNPS. If i do non-cash transaction, will i be paying 20 rupees?
By shifting to eNPS, you avoid only PoP charges. CRA charges are still there.
Hi sir
My photo and sign is not issue in my pran card what I do and I want to shift my account in state government sector
Hi Deepesh,
I had shifted from Corporate to UOS by filling iss-1. However I still dont see ‘Shift to e-NPS’ option under Transaction menu in my NPS portal. Any suggestion ?
Hi Dheeraj,
It should. You can try waiting for a few weeks
if it does not work, suggest you contact NSDL CRA.
Btw, what is your PoP at the moment?
Hi Deepesh,
POP Registration No – 5000155
POP Name – ICICI Bank Limited
I had lodged a Grievance using portal, looks like they are responding even without checking the details. Below is response –
“Dear Subscriber, we wish to inform you that for corporate subscriber currently there is no provision to shift the PRAN to eNPS. Hence, you cannot shift the PRAN to eNPS. We hope this clarifies the matter and thank you for being our valuable Subscriber. ”
I had escalated it to Trust now, lets see what they come up with.
Hahaha.
Escalate the issue and tell them you have already shifted to All Citizens model.
I changed my pop to enps through Karvy. What is the procedure to change enps to pop.
You want to go back from eNPS to a PoP?
Hi Heena,
Why do you want to go back?
You can fill up a form and submit to PoP.
https://www.personalfinanceplan.in/opinion/how-to-shift-nps-account/
Hello sir,
Your articles are very precise, informative and illustrative with various examples and i find it better than top business news and magazine articles,
I am PSU employee and want to save my taxes through NPS. I got my PRAN no yesterday but i think i made a mistake. I like HDFC FM because of AUM size, return and brand so i opened HDFC pension site which redirected me to religare site and accidentaly i added a POP in my investment. I invested in MF and stocks but new in NPS. Plz guide me how to remove religare intermediatry as i got PRAN but their e sign facility is under maintenance and they asked me to send a physical copy.
Also any suggestion on my nps investment view-
Current age-27
Current plan- Auto/LC75 til 35 yrs then Active/E50C30G20
Fund manager- HDFC
Annual investment in lumsum- 50K for 80CCD(1B)
Regards,
Prashant Kumar
Hi Prashant,
Thanks for your kind words.
You can register on eNPS (NSDL CRA) website and Shift to eNPS (As described in the post).
Religare will not have much role to play then.
Shifted to eNPS.
What is NAV applicable date for eNPS contribution? Like MF cut off time is 15:00 hrs for same day NAV.
Thanks & Regards
Prashant Kumar
Hi Prashant,
To be honest, I am not really sure.
4-5 days is quite common. Guess they wait to receive funds before they allot units.
Hi Deepesh,
I want to open a corporate NPS account. My employer has a tie-up with HDFC securities and accepts a PRAN only if it is registered with HDFC securities. So, is there a way to open an account online at any of the CRA websites and then link it to HDFC sec or the only option I have is to go to one of HDFC Sec’s branches and get my account opened there?
Thanks,
Hardik.
Hi Hardik,
As I understand, employer NPS works this way only.
You will have to open NPS account through an entity (your employer asks you to).
If you have an existing account, you will have to shift your NPS account accordingly.
Sure.. Thanks for the response Deepesh..
Hi Deepesh,
I am new to NPS, just opened an account, then realized the concept of POP and now changed it to eNPS. It was of great help reading through your article. Please continue to do this as people like us find it as an easy reference.
I have also come across comments on Monthly payments and ECS, Is it required to pay NPS in standard intervals or we can pay at time in a year subject to min inv of 1000INR. What would be your advise in paying NPS monthly or bulk payment?
Hi Biju,
Thanks for your kind words.
You don’t have to pay at regular intervals. You can choose to pay in one annual installment.
Hi Deepesh –
This post is very informative, learnt a lot about NPS. In my account statement i already see POP-SP Name eNPS – Online , does that i am already on enps? Pardon my ignorance here , i am new to investment and stuff.
Yes.
How did you open your NPS account?
Friends, I am facing one issue, as I have account with eNPS ( NSDL) , I want to shift it to karvy NPS through POP to get corporate benefits. As per Karvy, One way switch request is present in NSDL nps account,hence it can not be shifted to Karvy.
On discussion with NSDL, they are saying that no switch request is present.
What to do ?
Hi Sharad,
CRA switch is allowed by PFRDA. So, you can switch from NSDL to Karvy and vice versa.
However, I am not sure if NSDL and Karvy have implemented this.
You can write to PFRDA if NSDL does not co-operate.
Hi sir
I have NPS account when I login in the transaction menu I don’t get the enps option for enps shifting .kindly give me idea how I activated account in enps .I want change my nomination.
Hi Anurag,
Is your account under All Citizens mode?
Dear Sir
Please suggest how can I port my NPS services from NSDL to HDFC securities, as there is no office of NSDL in our town,
Hi Vikas,
NSDL is CRA. HDFC Securities is a PoP.
Is your PoP eNPS?
Hi Deepesh
I got my nps account created that is PRAN through ILFS with which my employer has a tie up, I got both TIER1 and TIER2 accounts activated, now my query is that can I shift my TIER2 to eNPS so that there will be no POP charges for any future contributions, I guess I cant do the same for Tier1 since the contributions are made by the employer through ILFS.
Hi Raj,
You can’t shift Tier II account alone.
Sir,
I have already open tier 1 account via enps. When I tried to activate tier 2 account one massage coming NRI customer not allowed to activate tier 2 account via enps please contact any registered pop. I had also contact canara bank , Union bank , sbi & Hdfc securities. But they don’t know ? How can I activate it. Please reply.
Thanks & regards,
Rajesh
Hi Rajesh,
Think your NRI status is a problem.
Since Tier-II has no restriction on exit, CRA must be confused about how to credit your bank accounts.
For NRIs, TDS is also an issue.
I believe, to avoid this, NSDL is pushing you to go to a PoP.
Don’t think you can have different PoPs for Tier I and Tier II accounts.
Suggest you raise a grievance and seek a proper explanation.
Sir,
I have no any idea how to raise a proper grievance ? But I will try. Yesterday I called religare he understood my problem and suggest for shifted pran from ENPS to religare. What is the role of religare I don’t know. Are you know about religare.
Please suggest me.
Thanks & Regards,
Rajesh
Religare will act as just another PoP.
Sir,
I have no any idea how to raise a proper grievance ? But I will try. Yesterday I called religare he understood my problem and suggest for shifted pran from ENPS to religare. What is the role of religare I don’t know. Are you know about religare.
Please suggest me.
Thanks & Regards,
Rajesh
DEAR SIR,
I WISH TO SHIFT MY PRAN FROM CORPORATE SECTOR TO ALL INDIA CITIZEN MODEL.
MY EARLIER EMPLOYER KARUR VYSAYA BANK WAS COVERED UNDER NPS & MY CURRENT EMPLOYER IS NOT COVERED UNDER NPS
SO I WENT TO POP-SP MENTIONED ON NSDL SITE WITH FORM ISS-1, BUT POP-SP (SBI BRANCH), THEY ARE TELLING ME THEY DONT KNOW THE PROCEDURE OF SUBSCRIBER SHIFTING OF NPS.
CAN I DIRECTLY SUBMIT MY ISS-1 FORM TO NSDL OFFICE OF KAMALA MILL COMPOUND MUMBAI
Hi Nikhil,
I think you can do that. Provide them all the supporting documents too.
hi
must say – they have made this inter shifting complicated and with physical form etc. I wish they could have a design where sharing PRAN is good enough to start contribution in any sector. In fact should have only one NPS model for all sector
Yes, it is too complicated. Could easily have been much simpler.
Hii sir i opened my pran number on karvy and now i want to shift it to nsdl how can i do this tell me
Though PFRDA allows shifting to another CRA, I am not sure if CRAs are ready with this.
You will have to check the procedure with NSDL.
Btw, why do you want to move from Karvy to NSDL?
Hello sir
I want to know if i open nps account thru nsdl website then who will be my pop & to whom should I give the form for withdrawl from tier 1 form?
Also I want to know if I open nps thru hdfc pension website. Do I have to pay charge of 0.25% every contribution or is it for offline mode only?
Hi Himanshu.
PoP will be eNPS (effectively NSDL CRA itself).
You can submit forms online or physically through CRA.
As I see, if you try on HDFC pension site, it takes you to Religare website. Therefore, PoP charges will be applicable.
Hi,
I have opened an eNPS account through Karvy CRA but my recent employer wants it to be in NSDL and sector also has to be changed into corporate. Please advice me what to do?
Is there any online way to port from Karvy to NSDL?
If OFFLINE where(address) should I send “ICSS-KARVY to NSDL FORM” ?
Hi Anoop,
This is a big mess.
PFRDA allowed switching CRAs many months back.
However, when I checked with NSDL a few months back, they had no process in place.
You need to check with both NSDL and Karvy and see how to take this forward.
Will appreciate if you could share their response.
Hi,
I have recently opened a NPS acount and shifted to eNPS almost immediately. I did this using PAN details since it was mentioned that either Aadhaar/PAN can be used.
However, while making contributions online, I am being charges a POP Trail Commission. The website says that this can be avoided by seeding Aadhaar with my NPS account.
Tried doing this by going to the ‘Update Personal Details/Add/Update VirtuaI ID’ (generated by UIDAI)
However, the system is unable to process my 16-digit VID as generated by UIDAI (Error: Your VID may be expired or invalid. There was an error generating OTP).
1) Just wanted to check if other people have faced similar issues
2) Why is POP Trail Commission still being charged in case of eNPS then?
3) How can the POP Trail Commission be avoided?
Thanks
Hi Swasti,
Please understand that NPS does not have any concept of trail commission.
There are transaction charges, which are higher if you opened your account through a regular PoP.
If you opened your account through a PoP and later shifted to eNPS, you will have to incur a lower percentage as service charge. The service charge is lower than PoP charge but it is a cost nonetheless.
Unable to check my NPS account due login issues for more than 1 week
https://www.cra-nsdl.com/CRA/
If able to login : the moment i click on any option it logs out
99% time unable to login : for reasons (1) Captcha expired please relogin (2) enter User ID & password
Despite written grievance no action taken apart from standard reply, will look into the matter.
On telephone they will not take complaint
While trying to register grievance today, getting the error : Error occurred while accessing the page
Seems major issue with the website:, either the organisation is not aware or not bothered
Have experienced this. Hope this gets sorted out soon.
My son was employed with Punjab National Bank , subsequently he resigned and joined Central Government.
What is the procedure to transfer the account from Public Sector Bank to Central Government ?
Please go through this post.
https://www.personalfinanceplan.in/how-to-shift-nps-account/
Hi Sir,
Please let me know if there is any restriction on number of times the contribution can be made towards NPS tier 1 account
Thanks
There is no limit.
I did shift to eNPS on 31st July 2018 and today when I went online, I got a a message on screen that reads, “Your account is already mapped to NPS trust”
What is your POP-SP number?
I do not see switch to eNPS option. is there any solution to this?
Hi Vish,
How did you open your NPS account?
Hi Deepesh,
I am on e NPS now after shifting from icicidirect. As per the last years PFRDA circular that funds can be transfered from EPF / superannuation fund i am planning to shift my superannuation policy from LIC to NPS.
I am stuck at this point – In case of Subscriber is a private employee or self-employed: POP collection account-NPS trust Subscriber NamePRAN
so in my case I am with eNPS – what are the details I need to provide to the employer ?
POP collection account-NPS trust Subscriber NamePRAN ?
who is POP collection account-NPS trust ?
thanks & regards,
Sambhav
Hi Sambhav,
Even I am not sure of this.
Even though the rules allowed the switch, I didn’t know that the process had been formalized.
For this, please raise a grievance in eNPS portal.
Btw, I wouldn’t recommend shifting your EPF corpus to NPS.
Hi Deepesh,
Appreciate your inputs and help to the general public on this issue.
I am in a similar situation, I need to provide the details to my ex-employer to move my superannuation funds ( a fairly large amount) to NPS. Opened the NPS account after leaving my job, so it is not a corporate account. I’m considering moving from ICICI as PoP to eNPS to avoid the .25% charge. But what account details would I need to provide? Is any further information available on this? My ex-employer is willing to provide a DD for the amount – but I guess this will still incur the transaction charge?
Also, I am curious – why do you advise against moving retirement corpus to NPS? Do you still hold that view (in 2020)?
Thanks,
Lakshmi
Deepesh sir I am government employer in Shri Poornanand high school Nepai Firozabad. Sir mene NPS account Karvey k madhyam se online open kiya tha. Mera NPS account No.hai. Ab is account ko Nsdl cra mai shift karna hai. Send sample form karvy cra to enps Nsdl cra .my mob..
Hi Abhishek,
Please contact NSDL CRA. They will guide you.
Hi Mr. Deepesh Raghaw,
I would like to registrar in eNPS as NRI. I have observed in eNPS system that a NRI can open Tier I account only. My question is that as a NRI, can I activate the Tier II account after successfully open the Tier I account. Please help.
Dear Mr. Pal,
There is no limitation per se that NRIs can’t open Tier II account.
However, I do see the issue that you mentioned.
You can try activating Tier II acconut once the Tier I account has been opened. Cannot guarantee that though.
At the same time, you must also consider if you must invest in Tier II account. In my opinion, there is nothing to gain by investing in NPS tier II account.
I have shifted to enps , can we again go back to NPS/POP
yes but why
Hi, I shifted to eNPS from Kotak Mahindra Bank. Now, will the auto debit which i had with Kotak Mahindra Bank discontinue now? should i now manual make online contribution through eNPS site?
Also, how can i change the bank details with eNPS as POP SP? I did not find an option in eNPS for changing bank details.
You can stop auto debit from the bank itself.
As I understand, eNPS portal does not have auto-debit feature as yet.
Hello Sir
I had opened NPS account long back in 2012 through POP(IL&FS securities). Later, my employer introduced introduced option of NPS in salary to avail tax saving u/s 80 CCD1B through ICICI securities. Thus, i linked my existing NPS account with this scheme. My employer contributes 10% of basic to my NPS account every month.
But, when i contribute extra voluntarily(in addition to what my employer contributes), i have to pay POP charges. Thus, i would like to know if i can transfer my account eNPS account to avoid paying those POP charges?
Kindly advise!
Hi Rathin,
As I understand, your account is under Corporate NPS.
In that case, you won’t be able to shift to eNPS.
Hi
Is there a possibility to set monthly ecs to contribute to my eNPS account.
My POP Bajaj Capital is providing pathetic services and doesn’t seems to be interested in NPS scheme, so I shifted to eNPS but now I want to start automatic monthly credit to my NPS account from my bank.
Is there an option to do this ?
Thanks
Hi Anurag,
I don’t think there is such an option at present in eNPS.
My employer is planning to take the service from ICICI for the pension contribution under section 80CCD(2), however my current POP is eNPS.
Should I require to change the POP?
If yes then for every monthly contribution need to pay POP charges on employer contribution.
Hi Pradeep,
You will have to go with your employer choice if you want to get benefit under Section 80CCD(2).You will have to shift to corporate NPS model.
I am a eNPS subscriber. I want to start ECS facility for my NPS account. how i can do that?
As I see, such a feature is not present on eNPS portal.
Today I tried and shifted into e-NPS at NSDL. Very user friendly. Thanks Deepesh for sharing details.
May I pls request you to provide me a link thru enps through which to proceed shifting to enps on nsdl-cra pls
You get the link once you login to CRA portal.
Hi,
I have been reading multiple post that i can convert NPS account to enps, but unfortunately switch to eNPS option itself is not available when i login to https://cra-nsdl.com/ , i opened my NPS account via HDFC securities through my employer to get benefit of 80 CCD (1B) . now i have switch to eNPS, please let me know how to proceed.
Hi Shyam,
You are under Corporate NPS model. You can’t switch to eNPS.
Hi,
This question is out of curiosity – why is PoP charge collected even if I am on eNPS but opened account using PAN and not Aadhaar? In my case , Axis bank was my PoP where I never gave my Aadhaar card, but only other proofs. But I conveniently shifted to eNPS and reaping the benefits.
That is to incentivize the intermediary who helped open the account.
Hi
I opened eNPS account online using NSDL website. I contributed a minimum of Rs.500 to the created account.
I even got to see my PRAN number. Usually how many days it takes to make the account active for further contribution. Can I make the contribution immediately or to wait for couple of days for KYC confirmation.
When I tried to login using PRAN provided to generate OTP, I get an error saying “PRAN not in database”
Thanks
Chandrasekhar
R/sir, i am haryana state govt employee and register for pran by karvy but my employer not accept this pran and demand for nsdl cra pran.so please tell how i shift pran from karvy to nsdl.
I too have the same problem..
I too have the same issue. I would be highly obliged to Mr. Roopesh for helping us. If anyone else has successfully shifted from Karvy to NSDL, Please share the procedure to be followed.
I opened the NPS account through online CRA website. At present any need to shift from POP to eNPS.
Tried to shift and got a message that ” Your account is already mapped to NPS Trust’
You are already on eNPS then.
Please Deepesh suggest how would I sift my PRAN from Karvy to nsdl as I am a government employee. Please suggest…
I too have the same issue. I would be highly obliged to Mr. Roopesh for helping us. If anyone else has successfully shifted from Karvy to NSDL, Please share the procedure to be followed.
Please share if you have any information if you issue is resolved. thanks
Thanks,
Tirupathi.
While shifting from POP to ENPS its says ”Scheme Setup Request is already present for the PRAN”
Kindly explain what is the error message
Also, can I close the NPS Tier II Account
Hi Deepesh,
I have recently opened an eNPS account with HDFC as the pension fund management. Now I need to get one of my previous employers to transfer some amount they owe to me to this new eNPS account. Is this allowed? If so, what would be the bank details for POP ‘eNPS-Online’.
Any information on this would be greatly appreciated.
Thanks!
Hi Deepesh
I have recently opened enps and avoided pops like icici after reading your comments. Can you guide me on how to make auto debit payments to enps through bank account.
I wish to make monthly contributions and wish to avoid doing this manually through enps every month.
Thanks
Sachin
Hi Sachin,
As I see, there is no auto-debit facility with eNPS.
I would like to transfer my superannuation fund (SAF) to NPS Tier I account. My SAF trust has mentioned that a Demand Draft (DD) will be issued in favour of . what should the POP name should be if I have opened my account on ENPS website directly? also, where should I submit the DD??
Hello All,
I checked E-NPS portal but I’m not able to find option of “Switch to ENPS” from POP
Does this option still exist in new URL?
If yes then what is the navigation path?
Thanks,
Esha
Hi,
I had Karvy CRA. and I was trying to NSDL CRA. But I mistakingly thought that “Request for PoP to eNPSShift” is that option. I have clicked on it and I have received acknowledgement email from Karvy. I am not sure what needs to be done now? Reading thru your blog, I am sticking to Karvy for now. So how can i cancel this request? With recent issues with Karvy, do you think it will Impact NPS CRA by Karvy ?
Greetings from Karvy Central Recordkeeping Agency (KCRA).
Thank you for choosing Karvy CRA for your NPS Services. Your request for PoP to eNPS shift has been successfully processed on 28/11/2019 with Acknowledgement Number : 017172A00009XXX.
I opened my eNPS account through NPS CRA website in 2016 with Aadhar and then changed it to ICICI Bank POP for Corporate Sector and recently changed back my PRAN to UOS, All citizen model through a different POP. Now, I want to change it to eNPS using the option available in my login.
After i Change to eNPS now, will i have no charges on eNPS contributions except CRA charges as earlier??
As my initial POP was eNPS, How the charges will be if i am back to eNPS now?
I opened my eNPS account on Karvy CRA. Later, when I joined a regular govt job (State Govt), I needed to change my CRA to NSDL, followed by Inter-sector shifting through target Nodal Office.
I submitted my application in prescribed ICSS-1 format to target PoP SP for eNPS in NSDL (Reg. No. 6396950) through speed post. It has been more than a week since it was delivered at their Mumbai Office, but I haven’t received any response or acknowledgment.
I would be highly obliged to Mr. Roopesh for helping us. If anyone else has successfully shifted from Karvy to NSDL, Please share the procedure to be followed.
Thanks in Advance
These things take time. Easily more than a week. Forget about acknowledgements. They will get in touch once if it is finally done.
You keep following up.
Raise the issue on Twitter, if possible.
not able to find option of “Switch to ENPS” how to do it online
I am trying to find the “Switch to eNPS” menu in NSDL site but its not available any more.
Hi Deepesh,
Thanks for creating the blog, which is really informative.
I have two queries:
1. My NPS account in created under Religare, Is it possible to shift that to ICICI NPS?
2. Suppose my CRA is KARVY, Is it possible to shift into NSDL?
Is both the process are online?
Thanks in Advance!
regards,
Ashutosh
Hello Ashutosh,
Not sure if you got answer to 2nd point. I have CRA in KARVY I want to move to eNPS. let me know if you have any update of any information that will help.
Thanks,
Tirupathi.
Hello Deepesh,
Great post. I just switched to eNPS today!! Thanks!
I have another NPS related question I can’t find the answer anywhere, please help in case you know.
I invested in NPS Tier 2 account in 2016 once. There were brokerage charges for next 2 quarters. But since then there has been no charge as per NPS transaction statements. I am wondering why is that? because of my account inactivity? or Tier 2 is indeed such low cost investment that there are no maintenance charges?
While I am going to shift my nps to eNPS.. It shows that ” One way switch is already present in the system ”. I am unable to shift!
Hello Sir
I have a corporate account of NPS from my company and also POP is attached, so should I change it from POP to ENPS or not.
Hi sir,
Please advise on the withdrawal taxation for nps tier 2. Will it be taxed on slab rate or long/short term capital gains tax. Iam not getting clear answer from anywhere. Please clarify.
Dear Deepesh ,
My NPS was opened through Corporate, but with ICICI Prudential as POP. There is a name mismatch between Aadhar and PRAN. Understand that Form S-2 needs to be submitted to POP for name correction so that Aadhar can be linked with PRAN. There are many versions of for S-2. Can you please share the appropriate form. Is Aadhar adequate to make this change ?
Hi Deepesh
First of all thanks for this detailed blog on this NPS and shifting from POP SP to ENPS.
I have opened my account through HDFC and my NPS accounted is created in CRA as well and made some contributions with POP commissions to HDFC (0.01%). Now when i was googling to shift to ENPS from NPS( dissociate POP from my NPS account ) i found out this blog. Please note that my account is created under “ALL Citizens Model” with Aadhar based in CRA.But when i logged into CRA NSDL website i don’t see this option of shifting to NPS. Please let me know if this option is removed or any other process i should follow.
Hi Chethan,
Switch option must be there.
You can raise a grievance after logging in and seek clarity.
Even i am not seeing the option. Mine is opened with icic bank.
Even I am not seeing “Shift to eNPS” option before/after login. Looks like site has changes significantly. Interestingly, NPS site still quoting that one can shift from PoP to eNPS, but menu option for vanished.
There contact us no. (022) 2499 3499 lets you waiting for few min. and gets disconnected as soon as you reaches ‘caller no. 1’.
What are the options?
Hi,
I am not seeing the option to change to enps. Does procedure got changed ?
Option for shifting NPS to eNPS is not visible.
Got this reply from grievance in NSDL (cra-nsdl.com) to change PoP to eNPS:
We wish to inform you that ‘shift to eNPS’ functionality is now disabled as per PFRDA circular PFRDA/17/01/03/0001/2017-SUP-CRA-Part(3). Therefore, as per the PFRDA guidelines, subscriber registered under eNPS can migrate or shift his/her PRAN to any other POP but the subscriber (who is already mapped to POP) can’t migrate to eNPS.
I can’t find this circular on CRA, PFRDA or NPS Trust websites, does anyone have a link ?
The circular is here: http://s000.tinyupload.com/index.php?file_id=40096959216491745704
This doesn’t look right, acc. to it, POP subscribers can’t move to eNPS but the other way around is allowed, so the users who originally registered with a POP are forever stuck paying the POP commission charges. This is a regressive step where PFRDA has forced both the CRAs (NSDL & Karvy) to disable already implemented functionality of shifting to eNPS.
+1 This is so sad. Just like you, I want to shift from POP to eNPS. I think paying commission for lifetime to these POPs is a waste of money. If I do not want their services I should not be for forced to stick with them. Bad move, PFRDA. This will discourage people to continue staying invested
Yes infact. Pfrda says it is encouraging entities which are doing hard work for making now popular and explaining feature to people.
Many people do it online and no need explanation.. why to pay them unnecessarily
The option provided to move to eNPS is not available in the portal now. Am i looking at a wrong portal?
They removed it, sadly 🙁
Hey Deepesh,
Very Informative article.
I see the option to switch to eNPS is no longer available. what are the options here? would contatcting or register grievance help?
also, I have my NPS account opened with ICICI PoP. so If do the contribution online through the NPS portal (https://cra-nsdl.com/CRA/) it only charges 0.01% as PoP trail commission and a transaction fee.
for e.g. if I am going to contribute 10,000 it would charge 10 rupees as PoP trail commission and 2.67 rupees as a transaction charge.
hypothetically, If I had switched to eNPS would the charges be any lesser?
thanks, looking forward to your reply.
I’m am on the same situation. Deepesh any advice?
+1
We are stuck for now and will have to pay POP charges, it’s just absurd, unfortunately, the POP charges have also been revised to 0.20%, 20 min 20K max.
I would stay away from NPS until I get the option to transfer to eNPS and put my hard-earned money in some other investment instrument.
Dear Deepesh,
I’m an existing eNPS (All Citizens) subscriber and willing to shift my CRA from NSDL to KARVY. Can you provide me the procedure: from where to download the ICSS (Inter CRA Shifting Subscriber) Form (NSDL or KFintech) and then where to submit this ICSS Form??
Date of logging grievance: 14/04/2021
Details of Resolution: Dear Subscriber, we wish to inform you that ‘shift to eNPS’ functionality is now disabled as per PFRDA circular PFRDA/17/01/03/0001/2017-SUP-CRA-Part(3). Therefore, as per the PFRDA guidelines, subscriber registered under eNPS can migrate or shift his/her PRAN to any other POP but the subscriber (who is already mapped to POP) can’t migrate to eNPS.
Direct registration through KFINTECH is not enps. They are charging 0.1% or 10 rupees pop charges for each transaction.
Any idea ? Is this same with nsdl?
Seems like this functionality of shifting to eNPS is not removed? Or does it only get activated once Tier-II is activated.