National Pension System - New Functionalities to provide benefits of subscribers and nodal offices
Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, recently many new functionalities have been released by the Central Recordkeeping Agency (CRA) to provide the ease of operation for the benefit of subscribers and nodal offices. These are detailed below:
Functionalities for NPS subscribers:
S.N | Functionalities | Brief Description |
1 |
Online Submission of Foreign Account Tax Compliance
Act (FATCA) Declaration
|
In-order
to facilitate quick FATCA compliance, facility to submit
online FATCA
Self-declaration has been provided to the subscriber in their
CRA login
(www.cra-nsdl.com). The information regarding the said
functionality is
also made available on CRA websites. The steps to be followed
by the
subscriber to submit online FATCA self-declaration are also
available on
the website.
|
2 |
Interoperability between CRAs
|
Karvy
Computershare Pvt. Ltd. (KCRA) was selected as a second CRA
under NPS.
Now, Subscribers/ Nodal Offices have option to open permanent
retirement
account with either of the CRAs. The existing Subscriber can
also
select CRA of his/her choice. To facilitate migration of
Subscriber
across CRAs (Karvy- CRA to NSDL- CRA and NSDL-CRA to Karvy-
CRA), the
CRA Interoperability functionality has been developed. The
Subscriber
will be required to approach target CRA to initiate the
shifting
request, the target CRA will facilitate the shifting request
under NPS.
Inter CRA shifting request will be allowed once in a
financial year.
|
3. |
New features under eNPS
|
1. Hindi version of eNPS module
The
bilingual version of eNPS module has been developed for
convenience of
NPS Subscriber. The Subscriber shall have option to choose
the desired
language option (either English or Hindi) for Registration
and/or
Contribution through eNPS.
2. eSign for Aadhaar based
Registration
In
case of registration through Aadhaar, it was mandatory for
Subscriber
to submit physical Application Form within 90 days of
completion of
registration under eNPS. eSign facility (Aadhaar e-KYC
services) has
been integrated with eNPS platform to enable the Subscriber
to sign
his/her PRAN Application electronically. This process has
eliminated the
requirement of submission of physical documents to
CRA.
3. New Payment Gateway - Bill Desk
In
eNPS, along with SBI ePay, Bill Desk has been integrated as
the second
Payment Gateway Service Provider. This will help the
Subscriber to make
payment through any service provider as per his/her choice by
selecting
the available payment options. Addition of Billdesk as new
payment
gateway has ensured participation of new banks which were not
part of
SBl e-Payment gateway especially AXIS Bank and HDFC
Bank.
|
4. |
New features in NPS Mobile App
|
1. Tier II Withdrawal
Subscriber
can now initiate Tier II account withdrawal under NPS using
Mobile App.
The Subscriber will log into the App with their User ID and
password.
An option to select Tier II withdrawal and generate One Time
Password
(OTP) is available in Mobile App. On entering the correct
OTP,
Subscriber will have an option to select mode of Withdrawal -
(i) lump
sum (amount), or (ii) scheme wise units. Once the option is
selected and
relevant details are submitted by the Subscriber, the same
will get
executed in the CRA system and funds will get transferred to
Subscriber's Bank Account registered with CRA.
2. Aadhaar Seeding
The
Subscriber can now link his/her Aadhaar to NPS account using
Mobile
App. The Subscriber will log into the App with his/her User
ID &
password and select the option of ‘Add/Update Aadhaar
Number'. The
option will be available to the Subscriber to provide his/her
Aadhaar.
Once Aadhaar is entered, the details of Subscriber registered
under NPS
will get authenticated with details available in UIDAI
database. Post
authentication, an OTP will be sent to the Subscriber's
mobile number
registered with UIDAI. The Subscriber will enter the OTP and
on entering
the correct OTP, Aadhaar will get seeded for the PRAN.
3. Reset password using OTP
Subscriber
can now reset his/her password using Mobile App through OTP.
The
Subscriber is required to enter his/her PRAN, Date of Birth
and set
his/her new password and generate OTP. On entering the
correct OTP
received on his/her mobile (registered with CRA), the
password becomes
active. This option is in addition to the option of resetting
password
using secret question.
|
5. |
New features under Atal Pension Yojana (APY)
|
1. ePRAN Card and Transaction
Statement
The
facility to download and/or print ePRAN Card and Transaction
Statement
is made available to APY Subscriber. The APY Subscriber can
access their
ePRAN Card and Transaction Statement through CRA NPS Lite
website (www.npslite-
nsdl.com).
The Subscriber have an option to search their ePRAN Card and
Transaction Statement with/without PRAN details. The
Subscriber are then
required to provide minimum details like PRAN and Bank
Account Number
or Subscriber Name, Bank Account Number and Date or birth
registered in
the CRA system under APY.
2. Alert for Grievances
An Email/SMS alert (along with Token No.) is sent to APY
Subscriber on generation and resolution of a grievance in CRA
system.
|
S. N. | Functionalities | Brief Description |
1. |
Online Subscriber Registration by DDOs
|
The
facility to register Subscriber online using Online PRAN
Generation
Module (OPGM) is made available to Drawing and Disbursing
Office (DDOs)
for Government Sector. The DDOs can capture the Subscriber
registration
details online in the CRA system. The details entered
by DDO needs to
be verified by associated PAOs. On verification of
registration details
in the CRA system, PRAN gets generated online. This facility
is an
extension to the functionality already available with Pay
& Account
Offices (PAOs).
|
2. |
Enhancement in Central Grievance Management System
(CGMS)
|
1.
Standard Frequently Asked Questions (FAQs) along with
answers against
respective query category are now available to Subscriber
& Entity
(raising grievance on behalf of NPS Subscriber) in CGMS. The
Subscriber
raising any query through CGMS will have a provision to view
the FAQs
& relevant answers based on the category of grievance
selected.
2.
The fortnightly email alerts are sent to the Nodal Office
for pending
grievances. Now, these alerts are enhanced to have the
details of all
pending grievances.
3. A facility is provided to
Nodal Office under NPS Lite and APY to download the pending
referrals
for associated Subscriber. Also, email alerts will be sent to
NPS Lite
and APY Offices for all grievances raised & resolved
during the day.
4.
The fortnightly email alerts will be sent to Oversight
Offices under
NPS Lite and APY regarding the grievances which are pending
for more
than 15 days under CGMS.
|
3. |
Error Rectification Module (ERM)
|
An
ERM request can be processed by the Nodal Office through
whom the
contributions were uploaded in CRA system. In addition, now
in case of
State Govt., the facility to perform a single ERM transaction
on behalf
of all the underlying Nodal Offices is provided to the
Oversight Office.
This will save efforts and time of multiple ERM requests
being captured
by different Nodal Offices.
|
4. |
Online Corporate Registration
|
A
facility for online registration is enabled for Corporates
through eNPS
platform. Corporate is required to provide the requisite
registration
details and select a POP for association and submission of
the relevant
documents for further processing. The registration details
captured by
the Corporate are to be authorized by associated POP.
|
5. |
Retirement Adviser:
|
The
Retirement Advisers (RAs) are appointed by PFRDA to engage
in the
activity of providing advice on NPS thereby to extend the
reach of NPS.
The RAs can be an individual, registered partnership firm,
body
corporate, or any registered Trust or society. The online
platform has
been developed and released in the CRA system to facilitate
registration
of an individual/entity as RA.
|
6. |
Withdrawal Reports / MIS in Nodal Office
login
|
Additional reports related to Withdrawal have now been made
available to Nodal Offices for better monitoring:
a) Physical withdrawal forms received but online withdrawal
request not processed
b) Non Receipt of Physical Forms for online withdrawal
processed cases
c) Online withdrawal requests pending for authorization
|
7. |
New CRA Toll Free Helpline
|
Dedicated
toll free number (1800222081) is made available to Nodal
Offices for
contacting CRA regarding their general queries / complaints.
This is in
addition to an existing toll free number (1800222080)
available for NPS
Subscribers.
|
Source : PIB
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