Opening an NPS account – online and offline: Here's a step-by-step guide

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National Pension Scheme (NPS) has experienced substantial popularity, driven by its appealing tax advantages, especially in response to recent amendments in Indian income tax regulations. Taxpayers commonly highlight several reasons for choosing to invest in the NPS: Yet, a considerable number of individuals lack awareness about the process of initiating an NPS account, whether through online or offline means. To initiate the online opening of an NPS account, you must visit the website of one of the Central Recordkeeping Agencies (CRAs).

These agencies oversee the NPS database and streamline the processes of account opening and maintenance. Here is the procedure for opening a new NPS account: Step 1: Access the registration link provided by one of the CRAs. Step 2: Input your mobile number, Permanent Account Number (PAN), and email ID.

Step 3: Authenticate the OTP sent to your mobile number. Step 4: Proceed to follow and fulfill the pertinent instructions displayed on the screen. Step 5: Upon completing the required formalities, you will receive your Permanent Retirement Account Number (PRAN), which serves as your login credential for accessing your NPS account.

To initiate the offline opening of your NPS account, you need to visit the nearest Point of Presence (PoP). The PoPs play a crucial role in registering your NPS application and are physical locations authorised to assist in NPS account opening. These include banks, post offices, and certain government offices.

You can access a list of PoPs on the websites of the CRAs such as NSDL e-Gov or KFin Tech, or through the Pension Fund Regulatory and Development Authority (PFRDA) website. Step 1: Identify the nearest PoP. Step 2: Go to the PoP and complete the application