Step-by-step guide to adding or updating candidate details online

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Photo: BCCL

New Delhi: In uncertain times like these, every investor is looking for schemes that can offer them assured returns and one such scheme is the National Pension System (NPS). This state-guaranteed scheme is a voluntary retirement savings scheme that allows subscribers to make defined contributions to secure their future in the form of a pension.

It offers subscribers exposure to both equities and debt securities. In addition, it is an EEA instrument where the investor benefits from income tax exemption at maturity and the full amount of the pension withdrawal.

For anyone looking to open an NPS account, they should know that they can choose to nominate a candidate when creating an NPS account. This will allow the candidate to withdraw the full amount of accrued pension.

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An NPS account holder is permitted to nominate up to three applicants for the Level I NPS account in accordance with the rules established by the Pension Funds Regulation and Development Authority (PFRDA). The overall percentage of shares for all candidates must be 100% and the subscriber must define the share of savings that he wishes to give to each candidate in the event of death.
However, if a person wishes to add or update their candidate details, this can be done online. Here is a step-by-step guide on how to edit NPS candidate details:

1. Visit cra-nsdl.com and login to your account using user ID and password.

2. After logging in, click on “Demographic Changes” from the menu option and then select the “Update Personal Details” option.

3. On the “Subscriber Edit” page, select “Add/Update Candidate Details” and click “Confirm” to continue.

4. Choose from the level 1 or level 2 account, for which you wish to declare the nomination.

5. To add applicant details, enter name, select if adult or minor, date of birth, relationship, guardian name, address, PIN, city, state and the country.

6. Click on ‘Add’ if you wish to add more than one candidate, or click on ‘Save’.

7. If you wish to make any changes to the nomination form, click ‘Edit’ or click ‘Submit’ to continue.

8. Now enter the OTP sent to your registered mobile number and then click “Submit OTP”.

9. The subscriber must now electronically sign the subscriber modification form and for this he must click on “eSign & Download”.

10. Click on ‘Proceed’ and you will then be redirected to the ‘NSDL Electronic Signature Service’ page under which you will have to accept all declarations.

11. Enter your VID/Aadhaar number and click “Send OTP”.

12. Fill in the OTP sent to your Aadhaar linked mobile number and click on “Check OTP”.

13. Click “Download e-Sign File” and the amended appointment details will be downloaded to your device in PDF format.

In case a person did not make any nominations when opening the NPS account, they can do so after receiving their PRAN by following the online steps outlined above.

According to the NPS Trust, “If you make the nomination when you register for the PRAN, you will not be charged any fees. However, a subsequent appointment update request would be considered a service request and you will be charged an amount of Rs. 20/- plus the applicable service fee for each request.

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