Permanent Retirement Account Number - PRAN

NPS was introduced by the government of India as an initiative to help citizens save more. However, it was only available for government employees and later extended to the unorganized sector as well. PRAN is the unique identification number given to each NPS account holder. This article will walk you through the details regarding PRAN. 

Permanent Retirement Account Number (PRAN) 

Every subscriber is allotted a unique 12-digit Permanent Retirement Benefit Number for a lifetime which is accessible from any location in India. Types of accounts which can be held under PRAN

• Tier I Account: This is a non-withdrawable account meant for retirement savings.
• Tier II Account: This is simply a voluntary savings facility. The subscriber is free to withdraw savings from this account whenever he wishes. No tax benefit is available on this account.

It is mandatory for all NPS subscribers to have a PRAN.

Documents Required for Applying PRAN

• The application must be filled completely (download the application here)
• Photograph of the subscriber
• Scheme preference details
• KYC documentation for identity proof and address proof

Applying for PRAN

The National Securities Depository Limited (NSDL) is the Central Record-keeping Agency (CRA) for NPS. Applications for PRAN are to be made on the NSDL portal. 

Step 1: Collect the required documents as listed.

Step 2: Submit the documents to the Point of Presence – Service Providers (POP-SP). Here is the list of relevant POP-SP.

Individuals who wish to open a Tier I or Tier II account:

A subscriber will be required to submit a duly filled form along with supporting KYC documents. If an individual wants to open a Tier II account and has an active Tier I account, then the individual must only file a copy of the Tier I PRAN card along with the Tier II activation form.

Corporates:

For subscribers belonging to the corporate sector, a duly filled Form CS-S1 needs to be provided to the corporate office. The minimum contribution required by a subscriber at the time of applying for registration for a Tier I account is INR 500, and for Tier II, it is INR 1,000.

Notifications Regarding PRAN

When the PRAN is generated, the subscriber is alerted through e-mail and SMS on the email ID and mobile number registered with the CRA. As a security measure, only the last four digits of the account number are disclosed in the communications.

Checking the Status of PRAN Application

As a general practice, the Permanent Retirement Account Number is generated and the printed card and dispatched within 20 days from the date of receipt of the duly filled registration form at the CRA – Facilitation Centre. When a subscriber makes an application for PRA, a 17-digit receipt number is generated and given as an acknowledgement by the POP-SP. The subscriber can check the application status online by giving the acknowledgement number, or with the Nodal Officer.

CRA NSDL

CRA is the recordkeeping agency for NSDL. It maintains all the records of subscribers. CRA is the first of its kind venture in India which will carry out the functions of Record Keeping, Administration, and Customer Service for all subscribers under NPS – Lite.

Related Documents

1. Difference between CDSL vs NDSL
2. NPS Tier 1 Account
3. NPS Calculator
4. Top performing NPS Schemes 2024