How Can I Change My NPS CRA

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How Can I Change My NPS CRA

Friday, 27 May 2022 | Agencies

How Can I Change My NPS CRA

You should read the information in this post since it will show you how to easily and efficiently make adjustments to your NPS account.

The National Pension System or NPS is known as a defined and voluntary contribution retirement scheme. It is created for all the subscribers to make proper decisions for their upcoming future through the process of systematic savings during their working life.

Individuals who invest in the NPS scheme will ensure considerable income to them after their retirement. But on certain occasions, the subscribers have to keep all their information well-updated in the NPS system. For instance, it’s essential to know how to change the nominee in the NPS system when required.

You should take a look at the information on this post, as it will tell you how you can make changes in NPS account easily and effectively.

Information You Can Update in Your NPS Account

As a subscriber of the NPS trust, you can update or change various information in your NPS account. All the changes or updates will be made by the CRA or Central Record Keeping Agency. The following is the information, which you can easily change.

  • Changing nominee-related information
  • Changing correspondence or permanent address
  • Updating the Aadhaar
  • Resetting the IPIN
  • Updating the mobile number
  • Making changes in the scheme preferences
  • Changing the email address

When you have decided to make some changes to all the main information, such as email, home address, mobile number, or name, you must use Form 2. With this form, you can make all the changes or updates easily.

Why opt for the National Pension System?

The NPS or the National Pension System aims to inculcate the habit of saving funds for retirement among all Indian citizens. It’s viewed as a method or approach toward a sustainable solution that offers a good amount of retirement income to the people of India. But there are several other reasons why you should opt for NPS.

  • It’s Flexible: Under NPS, you will receive a diverse range of choices and options for PFs or Pension Funds. This can help you plan out the investment growth reasonably and monitor it properly.
  • Straightforward: After you open an account in NPS, you will receive a PRAN or Permanent Retirement Account Number. PRAN is a unique number that will stay with you throughout your life.
  • It’s Regulated: NPS is completed and regulated by PFRDA or Pension Funds Regulatory and Development Authority. It also comes with transparent investment norms, and the NPS Trust takes care of the performance review and monitoring of all the fund managers.

How to Shift from NSDL to KFintech?

As a subscriber, if you wish to shift from NSDL [National Security Depository Limited] to KFintech, you need to submit the “Inter CRA Shifting Form”. After you submit, the POP will take the responsibility to shift to the KFintech CRA.

To obtain the form, you can download it from the official website of NPS KFINTECH. You will find the form beneath the “All Citizens Form” and then do the following:

Find the ICSS Form. To help you have a good understanding of how to shift from NSDL to KFintech, this chart can help you:

Conclusion

NPS is viewed as a useful asset for comfortable and financially independent retirement life. If you want your financial condition after your retirement to be as steady as possible, opting for NPS will be the right thing to do.

 

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