NPS Account Nominee update: To secure today and tomorrow, people adopt many types of schemes. One of these is the National Pension System, which provides social security after retirement. By investing in this, investors can create a strong retirement fund. You can also get the benefit of investment pension under this scheme. If the account holder dies, then in such a situation the deposited money is given to the nominee associated with the account.
It is mandatory for all NPS account holders to add the name of the nominee to their account. If you also have an account in the National Pension System and have not yet added the name of the nominee, then do this work as soon as possible. Let us tell you the easy way to add the name of the nominee to the NPS account sitting at home.
Add nominee name to NPS before this date
As per Pension Fund Regulatory and Development Authority (PEDRA) rules, it is mandatory to link the nominee to the National Pension System account. All NPS account holders should add the name of their nominee before 31st December. A minimum of 3 nominees can be added to the account at a time.
The three nominees can divide 100 percent of the fund among themselves. The nominee receives the money from the account on the death of the account holder. Keep in mind that the name of the nominee being added should match with the documents like their identity card, otherwise there may be a problem in claiming the money.
These people can be made nominees
A person can nominate his/her spouse, children, his/her parents and his/her deceased son’s wife as nominees. In this, the account holder also gets the facility to update his nominee, for which no time limit has been fixed.
How to update nominee from your NPS account
To update the nominee in NPS account, one has to visit its official website.
For this go to https://cra-nsdl.com/CRA/ website.
Here the option of Demographic Changes will be shown, click on it.
Here you will get the option of personal details, select it.
After this go to Add/Update Nomination option and click on Confirm.
After this select NPS Tier option and complete your nomination process.
Update the nominee’s name, date of birth, relationship and other details here.
It is also important to update how much fund the registered nominee should get.
OTP will be sent to the number linked to the NPS account for further processing.
Digital signature after entering the OTP.
After this, OTP will come on the number linked to Aadhaar, enter it and complete the verification.
