NPS/APY Functionalities released by CRAs during Quarter II (FY 2021-22): PFRDA Circular

No.

NPS Regular/ eNPS

Virtual ID for D-Remit facility via mobile app

• Subscribers can now create Virtual ID for Direct Remittance (D-Remit) through NPS Mobile App instead of being redirected to eNPS portal.
• This is in addition to the option available on eNPS portal for creation of Virtual ID.

Razorpay as Payment Gateway Service Provider (PGSP)

• Razorpay, as PGSP has been integrated in Mobile App.
• Subscribers now have the option of making NPS contributions using Razorpay PGSP in addition to Bill desk.
• At the time of contribution submission, Subscriber has the choice of PGSP viz Billdesk or Razorpay to contribute on mobile application.

NPS lumpsum withdrawal – Revision of threshold limit

Now the subscribers can opt for 100% lumpsum as under:

• Superannuation – If total corpus amount is less than or equal to Rs. 5 Lakh, enhanced from earlier Rs. 2 Lakh
• Premature Exit – If total corpus amount is less than or equal to Rs.
• 2.5 Lakh, enhanced from earlier Rs. 1 Lakh
• Withdrawal – Due to unfortunate death if total corpus amount is less than or equal to Rs. 5 Lakh, enhanced from earlier Rs. 2 Lakh

Changes in the PFs scheme ratio

• As per the advisory of NPS Trust, the funds allocation ratio for CG & SG sector for the default scheme has been revised for three PFs – SBI, UTI and LIC.
• Accordingly, footnote added in the Transaction Statement for CG& SG Subscribers indicating change in the PF scheme ratio.

Subscribers enrolment Age increased up to 70 years

Revamped and Simplified Subscriber Registration Form (SRF)

• Subscriber  Registration  upload  by  CRA-FC/Entities  for  NPS Regular
• Subscriber Registration through eNPS
• Subscriber Registration through myNPS

NPS TTS to all CG employees

Paperless registration through eNPS

Subscriber registration through eNPS is a completely paperless journey now through OTP Authentication/eSign.

NPS – Smart Exit Guide

Smart Exit Guide – a link has been enabled in the Subscribers login to view complete information on different types of exit and related guidelines.

Link: https://npscra.nsdl.co.in/nps-exit/

Dashboard reports to Nodal Offices.

• HOD Dashboard reports have been developed in CRA system for Head of the Departments (HODs) to monitor performance and compliance of the associated DDOs.
• The HOD level will be similar to PrAO/DTA who will monitor the operations of underlying DDOs.
• A hierarchy has been created with HOD at the top and their underlying DDOs along with PAO/DTO mapped with these DDOs.
• These DDOs and PAOs/DTOs may be associated to different PrAOs/DTAs in the existing Dashboard reports available to Nodal Offices.
• The HOD Reports have been developed for Government Sector i.e., CG & SG.

Exit through Self Authorization for the benefit of e NPS Subscribers

• Exit (Superannuation/Premature Exit) through Self authorization has been implemented for eNPS Subscribers.
• If Subscriber’s NPS corpus is less than Rs. 10 lakh (as on withdrawal request initiation date), Subscriber can exit through Self-Authorization.
• As part of the process, request will get processed in CRA system directly on successful KYC verification (Aadhaar based KYC) & eSign.
• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility).

Online paperless exit for UOS & Corporate sector

• Online paperless exit (Superannuation / Premature Exit) has been implemented for UOS & Corporate Sector through OTP authentication / eSign.
• Subscriber will initiate online exit, upload scanned documents and submit the same in the CRA system through OTP authentication / eSign.
• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility) at authorization by POP.

Ease of Partial withdrawal by self- declaration

• Online processing of Conditional/Partial withdrawal request on the basis of self-declaration by the Subscriber has been implemented.
• Verification and Authorization of request by Nodal Office is no longer required to ease and expedite the process of partial withdrawal.
• The Subscriber will submit request through OTP authentication / eSign.
• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility).

Instant Bank Account Verification (Penny drop)

• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility) as part of online processing of Superannuation / Premature Exit /Partial Withdrawal request for Government  and Non- Government Subscribers.
• Account verification along with name match will be performed during authorization of withdrawal request.

eNPS Government -To facilitate and ease the Subscriber Registration for Government subscribers

• An additional option introduced for Central Government Subscribers to open account online through eNPS Portal.
• The option is also made available to CAB/SG/SAB employees.
• Employees under NPS can open account on the basis of Aadhaar or KYC Verification by Nodal Office. In this process, Verification and Authorization of request by Nodal Office is mandatory.

Link: https://enps.nsdl.com/eNPS/OnlineSubscriberRegistration.html?appType=main

Updated Annuity Policy details in CRA system

Extension of age limit for NPS Contribution till 75 years

NPS Subscribers can now contribute till 75 years of age.

NPS Lite / APY

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APY Upgrade/ Downgrade through Re fixation Model

• In addition to the existing facility of upgrade/downgrade of pension amount, where APY Subscriber is required to pay the differential/shortfall amount, an additional option of Upgrade/Downgrade through Re-Fixation Model has been enabled for the APY Subscribers between 18 to 40 years of age.
• In re fixation model, Subscriber is not required to pay any differential amount upfront for upgrading the pension amount. In this case, the APY contribution would be re-fixed by adding to existing contribution.
• The additional contribution that Subscriber is required to pay is for the difference between desired upgraded pension amount and current pension amount (and will be calculated as per the age of Subscriber at the time of seeking such pension upgrade).

APY enrolment –Update on UTs

• ‘Ladakh’ has been created as a new UT in CRA system to map existing PRANs and Offices to ‘Ladakh’ from Jammu & Kashmir State.
• Merging of Dadra & Nagar Haveli with Daman & Diu. The new UT is Dadra & Nagar Haveli and Daman & Diu.

eAPY – APYenrolment through eNPS platform by using Aadhaar XML

• Subscribers can open APY account online through eNPS Platform.
• Subscriber is required to upload offline Aadhaar XML file in order to open APY account.

Link: https://enps.nsdl.com/eNPS/ApySubRegistration.html

APY –Lead Generation Module (LGM)

• Through LGM, Subscribers need not visit the APY-SP Branch as account can be opened based on OTP authentication and the same can be used by both potential Subscriber or by a well-wisher who wants to facilitate account opening for people whom he / she knows.
• LGM helps APY-SPs to use the downloaded data for account opening. Upon submission of the request, the lead will be forwarded to concerned APY-SP for PRAN generation.
• LGM enables APY-SPs to source Subscribers with minimum effort and cost.

Link: https://enps.nsdl.com/eNPS/APYLeadGeneration.html

Discontinuation of service of Axis Bank Ltd as UPI service provider in the eNPS

Upfront       Disclosure of Subscribers’ Charges in the Statement of Transaction (SoT)

“Know   Your   PRAN” in eNPS

• In order to facilitate the  Subscribers  to  retrieve  their PRANs, “Know Your PRAN” option has been enabled in eNPS website.
• User needs to enter PAN, Date of Birth and Captcha. OTP will be sent to the registered mobile number and email ID.
• On successful authentication of OTP, PRAN and Subscriber name will be shown to the User.

Link: https://enps.kfintech.com/panseeding/findmypran/

NPS withdrawal – Revision of threshold limit

• Subscribers can opt for 100% lump-sum amount if corpus is less than or equal to Rs 5 lakhs in case of superannuation exit.
• Subscribers can opt for 100% lump-sum amount if corpus is less than or equal to Rs 2.5 lakhs in case of premature exit.
• In case of unfortunate event of death of Govt Subscriber, nominee(s) can opt for 100% lump-sum amount if corpus is less than or equal to Rs 5 lakhs.
• In case of unfortunate event of death of Non Govt Subscriber, nominee(s) can opt for 100% lump-sum amount of corpus.

Historical SOT report in DBF Format

Based on the Survey feedback received by Pops, the DBF format for Historical SOT report is enabled. It has been implemented in both Mail back report and Subscription report.

New Subscriber Registration Form in eNPS online registration journey

• Email ID has been made mandatory
• Marital status – Widow/Widower and Divorcee added
• Either Father’s Name or Mother’s name is mandatory
• Single Address in place of Correspondence and Permanent address with relevant proof of address
• Nominee Address details have been removed
• Nominee’s Age mandatory

Link: https://enps.kfintech.com/registration/

Modification in Subscriber Registration Print file format

• New form has been implemented. Accordingly, new print file for PRAN kit printing has been developed as per the changes in the form.
• Subscriber will get the PRAN kit as per new Subscriber Registration Form.

PNB MetLife as ASP

• Annuity Quotes through API has been implemented in CRA and eNPS for the Annuity Service Provider (ASP) ‘PNB MetLife India Insurance Company Limited’.
• The user has to input details such as ASP, Age, Corpus, Gender, Annuity frequency etc. and Annuity Quotes will be provided for all Annuity Schemes of the concerned ASP. Now, the annuity quotes are now available for 12 ASPs.

Link: https://enps.kfintech.com/annuity/

Increase in age of entry up to 70 years

New Subscriber Registration Form (SRF) for Non-Govt.Subscribers

• Email ID has been made mandatory
• Marital status – Widow/Widower and Divorcee added
• Either Father’s Name or Mother’s name is mandatory
• Single Address in place of Correspondence and Permanent address with relevant proof of address
• Nominee Address details have been removed
• Nominee Age is mandatory

Profile Modification & View

Due  to  change  in  SRF,  Profile  modification  changes  have  been implemented.