NPS/APY Functionalities released by CRAs during Quarter II (FY 2021-22): PFRDA

Name of Development /Functionalities

Description

• This is in addition to the option available on eNPS portal for creation of Virtual ID.

• Subscribers now have the option of making NPS contributions using Razorpay PGSP in addition to Bill desk.

• At the time of contribution submission, Subscriber has the choice of PGSP viz Billdesk or Razorpay to contribute on mobile application.

Now the subscribers can opt for 100% lumpsum as under:

• Superannuation – If total corpus amount is less than or equal to Rs. 5 Lakh, enhanced from earlier Rs. 2 Lakh

• Premature Exit – If total corpus amount is less than or equal to Rs. 2.5 Lakh, enhanced from earlier Rs. 1 Lakh

• Withdrawal – Due to unfortunate death if total corpus amount is less than or equal to Rs. 5 Lakh, enhanced from earlier Rs. 2 Lakh

• Accordingly, footnote added in the Transaction Statement for CG & SG Subscribers indicating change in the PF scheme ratio.

• Subscriber Registration upload by CRA-FC/Entities for NPS Regular

• Subscriber Registration through eNPS

• Subscriber Registration through myNPS

• The HOD level will be similar to PrAO/DTA who will monitor the operations of underlying DDOs.

• A hierarchy has been created with HOD at the top and their underlying DDOs along with PAO/DTO mapped with these DDOs.

• These DDOs and PAOs/DTOs may be associated to different PrAOs/DTAs in the existing Dashboard reports available to Nodal Offices.

• The HOD Reports have been developed for Government Sector i.e., CG & SG.

• If Subscriber’s NPS corpus is less than Rs. 10 lakh (as on withdrawal request initiation date), Subscriber can exit through Self-Authorization.

• As part of the process, request will get processed in CRA system directly on successful KYC verification (Aadhaar based KYC) & eSign.

• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility).

• Subscriber will initiate online exit, upload scanned documents and submit the same in the CRA system through OTP authentication / eSign.

• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility) at authorization by POP.

• Verification and Authorization of request by Nodal Office is no longer required to ease and expedite the process of partial withdrawal.

• The Subscriber will submit request through OTP authentication / eSign.

• Bank Account of the Subscriber and name will be matched through Instant Bank Account verification (penny drop facility).

• Account verification along with name match will be performed during authorization of withdrawal request.

• The option is also made available to CAB/SG/SAB employees.

• Employees under NPS can open account on the basis of Aadhaar or KYC Verification by Nodal Office. In this process, Verification and Authorization of request by Nodal Office is mandatory.

Link: https://enps.nsdl.com/eNPS/OnlineSubscriberRegistration.html?appType=main

• In re fixation model, Subscriber is not required to pay any differential amount upfront for upgrading the pension amount. In this case, the APY contribution would be re-fixed by adding to existing contribution.

• The additional contribution that Subscriber is required to pay is for the difference between desired upgraded pension amount and current pension amount (and will be calculated as per the age of Subscriber at the time of seeking such pension upgrade)

• ‘Ladakh’ has been created as a new UT in CRA system to map existing PRANs and Offices to ‘Ladakh’ from Jammu & Kashmir State. • Merging of Dadra & Nagar Haveli with Daman & Diu. The new UT is Dadra & Nagar Haveli and Daman & Diu.

• Subscriber is required to upload offline Aadhaar XML file in order to open APY account.

Link: https://enps.nsdl.com/eNPS/ApySubRegistration.html

• Through LGM, Subscribers need not visit the APY-SP Branch as account can be opened based on OTP authentication and the same can be used by both potential Subscriber or by a well-wisher who wants to facilitate account opening for people whom he / she knows. • LGM helps APY-SPs to use the downloaded data for account opening. Upon submission of the request, the lead will be forwarded to concerned APY-SP for PRAN generation.

• LGM enables APY-SPs to source Subscribers with minimum effort and cost. Link: https://enps.nsdl.com/eNPS/APYLeadGeneration.html

Name of Development /Functionalities

Description

• User needs to enter PAN, Date of Birth and Captcha. OTP will be sent to the registered mobile number and email ID.

• On successful authentication of OTP, PRAN and Subscriber name will be shown to the User.

Link: https://enps.kfintech.com/panseeding/findmypran/

• Subscribers can opt for 100% lump-sum amount if corpus is less than or equal to Rs 2.5 lakhs in case of premature exit.

• In case of unfortunate event of death of Govt Subscriber, nominee(s) can opt for 100% lump-sum amount if corpus is less than or equal to Rs 5 lakhs.

• In case of unfortunate event of death of Non Govt Subscriber, nominee(s) can opt for 100% lump-sum amount of corpus.

• Email ID has been made mandatory

• Marital status – Widow/Widower and Divorcee added

• Either Father’s Name or Mother’s name is mandatory

• Single Address in place of Correspondence and Permanent address with relevant proof of address

• Nominee Address details have been removed

• Nominee’s Age mandatory

Link: https://enps.kfintech.com/registration/

• The user has to input details such as ASP, Age, Corpus, Gender, Annuity frequency etc. and Annuity Quotes will be provided for all Annuity Schemes of the concerned ASP. Now, the annuity quotes are now available for 12 ASPs.

Link: https://enps.kfintech.com/annuity/

• Email ID has been made mandatory

• Marital status – Widow/Widower and Divorcee added

• Either Father’s Name or Mother’s name is mandatory

• Single Address in place of Correspondence and Permanent address with relevant proof of address

• Nominee Address details have been removed

• Nominee Age is mandatory