If you are having trouble logging into your National Pension System account online, it means that it has become freeze. Today we are telling you how it can be restarted.
New Delhi . NPS is an investment scheme of the Government and Pension Fund Regulatory and Development Authority (PFRDA) for government and private sector employees. In order to take all kinds of benefits related to NPS, it is necessary to remain operational, that is, the account should not freeze. In fact, it is necessary to deposit minimum amount in an NPS account in a financial year. If it does not, the account freezes. If you are having trouble logging into your National Pension System account online, it means that it has become freeze.
In this, a lump sum retirement fund and later annuity benefit is available to the person when he reaches the age of 60 years after investing during the job period. Along with this, tax rebate is also available on deposits in NPS.
Why does NPS account freeze?
Under NPS, two types of accounts are opened Tier-1 and Tier-2. Tier-1 is a retirement account, while Tier-2 is a voluntary account, in which any salaried person can start investing on their behalf. Only after opening a Tier-1 account, a Tier-2 account opens. To keep NPS Tier-1 active, the annual contribution has already been reduced from Rs 6,000 to Rs 1,000. If the minimum annual investment is not made, the account is frozen and deactivated.
How to start NPS online,
you can also restart NPS account online. For this, a mandatory investment of 500 rupees will have to be done through e-NPS portal. This is how you can do this work. Go to the ENPS portal first. Click on ‘Contribution’ there. On entering the permanent retirement account number (PRN) and date of birth, you will be allowed to make the contribution in the next page. You will receive an email from the CRA with a minimum contribution of 500 rupees. After this, investment in NPS account can be started.
How to start a closed NPS account?
NPS accounts can be revived during a financial year with an investment of at least 500 rupees. You can start it online either through POP-SP (Point of Purchase Service Provided) or INPS.
To restart the account offline, go to the POP office. The authorized branches of POPs serve as collection points. They are also called Point of Presence Service Providers (POP-SP). To perform the contribution through POP-SP, you have to fill the NCIS (NPS Contribution Instruction Slip). This includes payment details, PRAN etc.
The details are recorded in the system after receiving the application, contribution and penalty for unfreezing the NPS account. After uploading the information of contribution to the Central Recordkeeping Agency (CRA) and the verification is completed, the NPS account is activated again.