How to Access Your NPS Statement
30 October, 2023
The National Pension Scheme (NPS) is a retirement savings scheme that aims to provide retirement benefits to all Indian citizens. It encourages you to make regular contributions across your employment period and build a significant retirement corpus. It is market-linked and managed by a professional fund manager, facilitating incredible potential for wealth creation.
NPS is also highly tax efficient. You can avail a tax benefit of up to ₹2 lakh every financial year. NPS Accounts are of two types – Teir 1 and Teir 2. You must hold a Tier 1 account until retirement as it does not allow partial withdrawals. Tier 2 account is a voluntary account. You can make withdrawals from it at any given time. You can view your NPS Account transactions in your Account Statement. Know more about NPS transaction statement below.
How to access NPS Account statement?
Following are two ways to obtain an NPS Account statement:
Via the Central Recordkeeping Agency (CRA) portal
Visit the CRA portal website where you hold an NPS Account.
Log in using your Permanent Retirement Account Number (PRAN) and password.
Enter any other information the website prompts so that you can log in successfully.
Once you have successfully logged in, you can navigate to NPS statement and conveniently download your NPS statement.
Note the CRA periodically sends NPS Account statements to your registered email address. Check your inbox to access the statement.
Via DigiLocker
Register for DigiLocker using your mobile number or Aadhaar Card number.
Enter the One-Time Password (OTP) received on your mobile number to authenticate the login request.
On successful login, search for ‘PFRDA’ in DigiLocker and select your CRA.
Select the NPS Account statement from the listed options.
You will be able to view your NPS Account statement instantly.
You can choose account type to view –Tier 1 and Tier 2 separate account statements or a combined statement.
Now, you can access your NPS statements on DigiLocker.
Typically, your NPS statement will be password-protected. You must enter the NPS statement password as instructed in the mail received with statement.
Latest announcement about the NPS statement
The Pension Fund Regulatory and Development Authority (PFRDA), along with the Securities and Exchange Board of India (SEBI), will allow all NPS subscribers to integrate the NPS Statement of Transaction (SOT) with the Consolidated Account Statement (CAS).
You can view your updated market values for NPS, personal investments in the securities market, and Mutual Fund holdings in a single statement. Following are key pointers about the integrated NPS statement to make note of:
PFRDA enables all CRAs to integrate with depositories registered with SEBI to allow NPS subscribers to include NPS transactions in CAS.
All NPS subscribers have the option to integrate NPS SOT in CAS. You can enable this option by visiting your CRA’s website.
You must pay a nominal charge of 10 paise to receive an integrated NPS statement via email. You incur a basic fee of ₹1 to obtain a physical copy of the statement.
Procedure to include NPS details in CAS
Following are general steps you must follow to include NPS details in CAS:
Visit your CRA’s NPS portal.
Login in using your Permanent Retirement Account Number (PRAN) and password.
Authenticate the login request by entering the One-Time Password (OTP) received on your registered mobile number.
Navigate to the option that allows you to include NPS details in CAS.
Enter your PRAN, PAN Card, and Date of Birth and other required data.
Read the consent declaration form thoroughly before checking the box for submission.
Once you have submitted the consent declaration form, your NPS transaction details will reflect in the CAS from the following month.
Bottomline
NPS helps you build a significant financial corpus and create a reliable pension source for your retirement period. Start your retirement saving journey with HDFC Bank today. Open an NPS Account by following simple steps!
*Terms and Conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action.