How to set up an NPS account online: A step-by-step guide

The National Pension System (NPS) is a government-backed pension-cum-investment scheme aimed at providing old age security to citizens. NPS encompasses a large section of the population as it covers both government and non-government sectors, and offers a slew of benefits and features including tax incentives and flexibility in choosing investment options. It brings along attractive long-term saving avenues that can help subscribers effectively plan their retirement through safe and regulated market-based returns.

The NPS subscriber is expected to periodically and regularly contribute towards the scheme during their working life to create a retirement corpus.

One can join NPS in online as well as offline modes. Here's a list of steps and guidelines aimed at enabling users to set up their NPS accounts seamlessly: 

1. You must have a 'Permanent Account Number' (PAN).

2. You require Bank / Demat /Folio account details with the empanelled Bank/Non-Bank (POP) for KYC verification for registration through eNPS.

3. KYC verification will be done by the Bank/Non-Bank POP selected by you during the registration process. The name and address provided during registration must match with POP records for KYC verification. In case the details do not match, the request is liable for rejection. In case of rejection of KYC by the selected POP, the applicant is requested to contact the POP.

4. You will have to fill up all the mandatory details online.

5. Upload scanned copy of PAN card and Cancelled Cheque in .jpeg/.jpg/.png format having file size between 4KB - 2MB

6. You need to upload your scanned photograph and signature in .jpeg/.jpg/.png format having a file size between 4KB - 5MB.

7. You will be routed to a payment gateway for making the payment towards your NPS account from Internet Banking.

8. Contributions are credited in Permanent Retirement Account Numbers (PRANs) on a T+2 basis (which is subject to receipt of clear funds from the Payment Gateway Service Provider).

Once PRAN is allotted, the subscribers can use either the eSign or the Print and Courier options.

For eSign:

1. Select the 'eSign' option on the eSign / Print & Courier page.

2. OTP for the purpose of authentication will be sent to your mobile number registered with your Aadhaar card.

3. After Authentication of the Aadhaar,  the registration form will be successfully eSigned.

4. Once a document is eSigned, there is no need to send the physical copy of the form to the Central Recordkeeping Agency (CRA).

5. eSign service charges plus taxes applicable is Rs 25.90 (including UIDAI charge of Rs 20).

For Print and Courier:

1. Select the 'Print & Courier' option on the eSign / Print & Courier page.

2. You will have to take a printout of the form, paste your photograph (do not sign across the photograph) & affix your signature.

3. You should sign on the block provided for signature.

4. The photograph must not be stapled or clipped to the form.

5. The form should be sent within 30 days from the date of allotment of PRAN to CRA at the following address or else the PRAN will be 'frozen' temporarily.