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Don’t you carry an umbrella with you whenever you go out to keep yourself prepared for unexpected rain? The National Pension System or the National Pension Scheme (NPS) is like carrying an umbrella even before it starts raining. NPS empowers its subscribers to take a proactive approach to retirement planning.
So don’t wait for the storm of retirement to arrive, prepare in advance through NPS registration online, ensuring that you’re financially protected when you need it the most.
You must have already heard of NPS. If not, you can read about the NPS scheme and its benefits here.
How to apply for NPS online?
For NPS online registration, you can visit the eNPS portal. Or you can enroll for eNPS registration through the website of KFin Technologies as well. Let’s see what you have to do to create an account for eNPS registration:
Step 1: Visit https://www.nps.kfintech.com/
Step 2: Click on ‘Join NPS’.
Step 3: You will be redirected to a new page.
Step 5: Enter the following details:
- Your full name
- Your date of birth
- Mobile number
- Your PAN number
- Email ID
- Application type
- Resident type
- Accept the terms and conditions
- Click on ‘Create an account’, and then you will be redirected to the NPS page
Important things you need to fill for eNPS registration
Application Type: You’ll be presented with different account/application types. You have to choose the appropriate one based on your eligibility, whether you are an individual subscriber or a corporate subscriber.
Personal Details Entry: You have to fill in your personal details, which include your name, date of birth, PAN card details, contact information, nationality, occupation, and parental and spousal information. Be sure to provide accurate and up-to-date information.
KYC Verification: To comply with Know Your Customer (KYC) norms, you may need to upload your photograph and signature. Ensure you have your Aadhaar and PAN card for verification.
Account Type: You have to choose either ‘Tier I’ or ‘Tier I & Tier II’. Tier I is a mandatory pension account and restricted withdrawals are allowed as per rules and regulations. The minimum contribution to open this account type is 500 INR. Under Tier I, multiple tax benefits are available. On the other hand, Tier II is an optional investment account and there are no restrictions on withdrawals. The minimum contribution to open is Rs. 1000 INR and there are no tax benefits.
Contribution Details: You will need to decide how much you want to contribute to your NPS account regularly. This can be changed later, but it’s important that you make an informed decision based on your current financial situation.
Nomination Details: You will need to nominate beneficiaries for your NPS account. Ensure you provide accurate information about your nominees, as this will be crucial for your loved ones in case of unforeseen circumstances.
Choosing Pension Fund Manager (PFM): During the registration, you will have the opportunity to choose PFM from the options available. You can now choose multiple PFMs, one each for every asset class. Research and select the PFM that aligns with your financial goals and risk tolerance.
Confirmation and PRAN Generation: You will receive a Permanent Retirement Account Number (PRAN) after everything is complete with a unique 16-digit number. This is your key to accessing your NPS account whenever you log in. Keep it safe with you.
Conclusion
NPS registration online through the eNPS portal offers a hassle-free way to secure your financial future. By keeping these key things in mind, it will be easier for you to take the first significant step towards building a comfortable retirement. Don’t delay; enroll for eNPS registration here and enjoy the benefits in your golden years.
