NPS account holders have got a new facility from the government. In which if an NPS account holder wants to change his nominee, then he can do this process online at home.
The account holders of the National Pension System have got a new facility from the government. In which if an NPS account holder wants to change his nominee, then he can do this process online at home. In this global crisis of Corona, pension fund regulator PFRDA has provided contactless e-sign facility for nominee change. Therefore, there will be no need to submit physically nomination form to replace the nominee.
However, talking about the current rules, the NPS account holder had to physically submit the S2 form to the concerned nodal officers or point of presence to change the nominee in their Permanent Retirement Account Number. But, in view of the increasing corona infection, now contactless e-sign has been provided, so that citizens can change the nominee in PRAN at home.
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What is NPS
The National Pension System is a Government of India sponsored retirement scheme. In order to provide security to the citizens of the country in old age. Under this scheme, citizens are given the option to invest in preferred classes like stock market, government securities.
Replace NPS nominee with these easy steps
- To change the nominee to NPS, first you need to go to the CRA system website https://cra-nsdl.com/CRA/.
- The CRA system has to login with credentials and select the ‘Update Personal Details’ option under the ‘Demographic Changes’ menu.
- The NPS account holder will then have to choose the option to add / update the nominee details. After this, the details of the nominee’s name, relationship with him and percentage share will have to be submitted.
- After saving and confirming the entire information, the NPS account holder will get the OTP on the registered mobile number, which will have to be submitted.
- After submitting OTP, the option of e-sign will appear. After this e-sign the NPS account holder will have to enter their Aadhaar number and click on Send OTP.
- The OTP will be sent to the mobile number registered with Aadhaar. After that you have to click on verified OTP.
- After the NPS account holder is verified, the nominee details will be updated in the NPS record.