e-Nomination facility for NPS subscribers: PFRDA Circular
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
Website : www.pfrda.org.in
CIRCULAR
CIR No : PFRDA/2020/37/SUP-CRA/15
Date: September 3, 2020
To.
All Stakeholder under NPS
Subject : e-Nomination facility for NPS subscribers
Pension Fund Regulatory and Development Authority (PFRDA) has been established inter-alia is to protect the interests of subscribers of NPS and other pension schemes regulated by it. PFRDA has allowed comprehensive and digitally enabled solutions for subscribersโ varied needs from on-boarding till the process of exit.
2. Currently, the existing subscribers of NPS, who wish to change their nomination in their Permanent Retirement Account Number (PRAN), are required to submit S2 form (Request for change of Subscriber Master details) physically to the associated Nodal officers, corporates or Points of Presence (POPs) for updation.
3. In order to enable NPS Subscribers with ease of changing the nomination, PFRDA has allowed the โe sign based online facilityโ to change of nomination through the Subscribersโ login credentials, as per the process flow given in Annexure-A. Central Record Keeping Agencies (CRAs) have been advised to introduce this feature in their system at the earliest.
4. The detailed provisions regarding โNominationsโ under NPS are specified under regulation-32 of PFRDA (Exits and Withdrawal) Regulations 2015. The relevant extracts of the regulations are provided under Annexure-B for ready reference.
5. This circular is issued under Section 14 of PFRDA Act 2013 and is available at PFRDAโs website (www.pfrda.org.in) under the Regulatory framework and in โCircularโ section of CRA under intermediaries.
K Mohan Gandhi
(General Manager)
Annexure -A
(e-Nomination Process)
The steps to be followed by the Subscriber for e Nomination is given below:
1. Subscribers access their respective CRA system with login credentials and select the option โUpdate Personal detailsโ under โDemographic changesโ menu.
2. On selection, subscriber modification screen will appear with multiple options, Subscriber is required to select the option โAdd/Update Nominee detailsโ and then โTier typeโ for which nomination details have to be updated.
3. The subscriber is required to submit the details online such as name of the nominee, relationship with the nominee, percentage share etc. and save the details by clicking on โSaveโ menu.
4. Once the details are saved and confirmed, subscriber is required to submit the โOne Time Password (OTP)โ received on Registered Mobile Number.
5. On submission of OTP, subscriber is required to e-Sign to authenticate the changes by selecting option โe-sign and downloadโ.
6. The subscriber will be taken on to โe signature service providerโsโ page for e-sign where he is required to enter Aadhaar/ Virtual ID and click on โsend OTPโ. OTP will be received on mobile number registered with UIDAI.
7. Subscriber needs to submit OTP and click on โVerify OTP.
8. Upon authentication, the nomination details will be updated in the NPS records. For Government/Identified Corporate sector subscribers, the request needs to be authorized by the associated Nodal Office/Corporate before its updation.
9. The process of change of nomination is paperless. In case e-sign fails, the changes shall not be updated and the subscriber shall have to update the nomination through physical form as per the existing process.
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