How to National Pension System (NPS) Account Reactivate, know what the process is

 

Are you having trouble logging into your National Pension System (NPS) account online? It is possible that it has frozen. If you do not invest at least Rs 1,000 in an NPS account during a financial year, it becomes dormant. To keep NPS Tier-1 active, the annual contribution has already been reduced from Rs 6,000 to Rs 1,000. Subscribers of the National Pension System (NPS) have to pay a minimum contribution of Rs 1,000 every year, while the minimum deposit is Rs 500 per transaction. If its members do not make a minimum contribution of Rs 1,000 in the financial year, then their NPS account, as well as PRAN (Permanent Retirement Account Number), is 'freeze'. You are informed about the freeze of NPS account by email.

 

The user has to follow some procedure to restart the frozen NPS account.

 

NPS accounts can be revived during a financial year with an investment of at least 500 rupees. You can start it online either through POP-SP (Point of Purchase Service Provided) or e-NPS. You can also restart NPS account online. For this, a mandatory investment of 500 rupees will have to be done through e-NPS portal. This is how you can do this. First, go to the e-NPS portal. Click on 'Contribution' there. On entering the permanent retirement account number (PRN) and date of birth, you will be allowed to make the contribution in the next page. You will receive an email from the CRA with a minimum contribution of 500 rupees. After this, investment in NPS account can be started.

 

To restart the account offline, go to the office of the POP or the branch of the bank or post office. The authorized branches of POPs serve as collection points. They are also called Point of Presence Service Providers (POP-SP). To open an account, members have to take the form UOS-S10-A from the bank or post office branch in which they have an account. You can also download it online. After filling the form, customers have to put a photocopy of the PRAN card together.

 

Members will have to pay Rs 500 for the current financial year and a penalty of Rs 100 for each year of freeze for regular NPS accounts. For self-reliance accounts, there will be a fine of Rs 25 for each year of a freeze. On submission of the application, the officer taking it will give you a signed acknowledgement slip. Keep the slip with you till your account becomes active. Authorities will verify whether the accepted account is activated or not. If the amount is received in the order, then the application process will be carried forward and PRAN will be activated.