The National Pension Scheme (NPS) is a government initiative that is aimed at giving retired or retiring Indians a stable income in their post-retirement years. Everyone may open or register for NPS as long as you are 18 years and above. The scheme was first opened to private-sector employees in 2009, but government employees have been enjoying it since 2004.
Registration in the national pension scheme takes a special procedure; during this procedure, you get to have a special account number where your pension benefits will be held and also have an identification card. However, if you misplace or lose your account number, how do you retrieve it?
What Is Your NPS Account Number?
What you call the NPS account number is called a Permanent Retirement Account Number (PRAN). This is a unique 12-digit number that gives you full authority over your retirement, regardless of your location. The permanent retirement account number is issued to all applicants by the national pension scheme at the completion of their registration exercise. You will also get an ID card containing your NPS account number and other relevant details. As long as you have this Permanent Retirement Account Number (PRAN) card, there’s no chance of you losing your account number.
How To Get Your Permanent Retirement Account Number?
As it has been earlier mentioned, anybody who is an Indian citizen can apply for a permanent retirement account number. But before doing that, you will need to have a record of relevant government agencies, such as the Central Recordkeeping Agency and the Drawing and Disbursing Officer.
Registration for the scheme can be done on the website or by visiting the NPS office. For online registration, you will need to visit the NSDL website for guidance. Registration can be done using your permanent account number or an Aadhaar card.
To register on the NSDL website, you will need to visit the website and click on your preferred registration mode (whether it is with Aadhaar or PAN). upon choosing your preferred mode, you will then be redirected to the appropriate registration channel to complete the process.
The Aadhaar method involves automatically importing your information from your Aadhaar after confirmation of your identity via an OTP sent to your registered phone number.
As for the Permanent Account Number (PAN), the bank account you have must be approved by the National Pension Scheme (NPS). Also, the details you used for the KYC registration must match the one that was used for the account registration. What this means is that the name, address, tax details, and other information provided must not only be similar but be an exact match of what is in your bank information. If this is not the case, you will need to correct it with your bank before you can proceed with the registration.
Also, have in mind that registering for a National Pension Scheme (NPS) is not free. You will pay between 500 INR and 1000 INR depending on the tier of the account you opened. The payment will be made after completion of registration, and you will be issued with your Permanent Retirement Account Number (PRAN) card. Your account number will be stated on the card.
How To Find your Lost NPS Account Number?
Now, what if, somehow, against all odds, you lose your PRAN card and do not have your account number committed to memory? What do you do then? Open another account? That’s impossible. Close the account? What about the money? We will do you one better, why not request a new card?
It has already been mentioned that your PRAN card is vital for the management of your retirement account. It contains your permanent retirement account number, which you will need in order to access your account. In case of loss, you will need to apply for a duplicate from the appropriate authority, which is the Drawing and Disbursing Office (DDO). DDO will give you a Form S2, which must be filled out and submitted for processing.
After filing the form, the Nodal office will process the request in the Central Recordkeeping Agency (CRA) system. Upon approval, a new PRAN card will be issued and sent to you through DDO.
If this seems like too much work, another way to retrieve your NPS account number is to log in to the CRA system and reprint the PRAN card yourself. This PRAN card reprint is easier and faster than the first option but is not free.
Conclusion
An NPS account number is not an ordinary bank account number, it is a unique 12-digit number that grants you access to your retirement account. In order to get a permanent retirement account number, you need to go through the registration process at DDO and CRA offices. At the end of the registration, you will be issued a permanent retirement account number card, which will have your NPS bank account included.
