How To Open National Pension System (NPS) Account Online

An NPS or National Pension Scheme account can be set up online. An online platform provided by NPS Trust enables users to set up individual Tier 1 and Tier 2 pension accounts. The online facility, called the eNPS portal (enps.nsdl.com), facilitates existing or new NPS subscribers to make contributions in initial or subsequent stage, according to NPS Trust's website. The eNPS portal platform enables users to make contributions to their NPS accounts through modes of payment such as net banking and debit/credit cards. NPS is a government-sponsored retirement planning instrument regulated by the Pension Fund Regulatory and Development Authority (PFRDA). NPS Trust is the owner of all assets held for the benefit of NPS subscribers. (Also read: What to do with National Pension scheme account after turning 60 | NPS exit rules explained)

Here's all you need to know about how to open an NPS account through the eNPS portal (enps.nsdl.com):

Who can open NPS pension scheme account using eNPS portal

The user is required to have a mobile number, an email address and a bank account with subscription to net banking facility. The applicant is required to own and furnish PAN (Permanent Account Details) details in order to set up an NPS account, according to the eNPS portal.

The applicants are required to activate the PRAN or Permanent Retirement Account Number, an identification number for NPS accounts, for setting up an NPS account or managing an existing NPS account online.

How to open NPS account through eNPS portal

The user is required to visit the National Pension System section on the eNPS portal.

The eNPS portal provides the option of registration and contribution, as well as activation of a Tier 2 account, under the NPS section.

(The applicant is required to enter personal details along with scanned copies of photo and signature to register)

In order to complete an application, the user is required to fill up all the mandatory details, and select one from the two options: Tier 1 & Tier 2 account and Tier 1 account only)

After furnishing the required details, the user is required to upload a scanned photograph along with a signature (in image form).

(The user is required to click on the "Generate Acknowledgement No." option to proceed)

Once these stages are cleared, the user is directed to a payment gateway for making the payment towards the NPS account.

After a Permanent Retirement Account Number (PRAN) is allotted, the subscriber is required to send the completed form within 30 days to the Central Recordkeeping Agency (eNPS), and failing to do this in due time leads to freezing of the identification number, according to the eNPS portal.

Document requirements (KYC)

The activation of PRAN is subject to KYC (know your customer) verification by the PoP (point of presence). For this, the name and address of the applicant need to match with the details given in the PoP record, according to the eNPS portal.

The KYC verification is carried out by the bank or point of presence (PoP) selected by the applicant during the registration process.