The National Pension System (NPS) was introduced by the Pension Fund Regulatory and Development Authority in 2004. NPS accounts can be opened by citizens between 18 and 60 years of age.

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The fundamental goal of the NPS is to ensure that account holders continue to earn a steady income after they retire, as well as generate significant returns on their investment, in addition to offering tax benefits.

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What is NPS?

The NPS is a government-sponsored retirement planning program for those without continuous pensions after retirement.

NPS requires that every year, up until retirement, one must contribute a minimum of Rs 1000 to one's NPS account balance. Approximately 60% of the cash can be withdrawn after maturity. With the remaining 40%, an annuity must be purchased to provide a consistent income post-retirement.

A step-by-step guide to checking NPS balance online via the NSDL portal?

Subscribers get a Permanent Retirement Allotment Number (PRAN) when they open an NPS account. The PRAN is required for NPS balance inquiries. Hence, they should note it down before checking their accumulated funds. 

In order to know how to check NPS account balance online, here are the following steps:

 

  • Visit the NSDL portal.
  • Enter your PRAN as a user ID and account password to log in.
  • You will find a Captcha code on the screen. Enter it to proceed.
  • Under the "Transaction Statement" section, you will find a "Holding Statement" option. Click on it.
  • The screen will show details of your accumulated balance.
  • If you wish to get an NPS balance statement including details of your transactions and contributions, you need to click on the "Transaction Statement" option under the mentioned section.

A step-by-step guide to checking NPS account balance by using the UMANG app?

The UMANG platform was developed by the Ministry of Electronics and Information Technology (MeitY) and the National e-Government division. Here are the steps you need to take:

  • Open the UMANG app on your mobile and search for NPS services.
  • Choose the option “NPS” and tap on your relevant CRA.
  • Click on the “Current Holding” option on the next page and enter your Permanent Retirement Allotment Number (PRAN) and password.
  • Finally, tap on “Login” to view your account balance details.