How to create a National Pension Scheme (NPS) account online in 2024

National Pension Scheme India: National Pension Scheme (NPS) is a government-sponsored pension scheme in India, here's everything you need to know, from eligibility criteria to required documents, registration steps to create an NPS account and more.

National Pension Scheme: e-Insurance Rules 2024: Here is a step-by-step guide on how users can log in NPS using the two-factor Aadhaar authentication system from April 1, 2024, onwards.

Here is a step-by-step guide on how users can log in using NPS the two-factor Aadhaar authentication system/ (Source: Canva)

National Pension Scheme Details: Planning for retirement is a crucial aspect of financial management. In India, the government has introduced several initiatives to support individuals in securing their financial well-being after retirement.

The National Pension Scheme (NPS) is a government-sponsored retirement savings scheme in India that is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). Initially, it was launched in 2004 only for government employees, but it was later opened to all Indian citizens in 2009.

To provide financial security and stability to individuals during their post-retirement years, NPS is also a popular tax-saving instrument that offers various benefits to individuals who are planning for retirement and looking to reduce their taxable income. Section 80C allows for a tax deduction on contributions up to ₹1.5 lakh within the overall limit.

Story continues below this ad

Here’s everything one needs to know to sign up and create an account with the National Pension Scheme online in 2024.

Who’s eligible for the National Pension Scheme (NPS)?

Indian citizens, including non-resident Indians (NRIs), are eligible to join the NPS. However, Overseas Citizen of India (OCI) cardholders are not eligible.
Must be aged between 18 and 70 years to join NPS.

What are the documents required for the National Pension Scheme (NPS)?

Proof of identity: Aadhaar card, PAN card, passport, voter ID, or driving licence.
Proof of address: Utility bills (electricity, water, gas), bank statement, rental agreement, or any other government-issued address proof.
Proof of age: Birth certificate, PAN card, passport, or any other valid age proof.
A recent passport-sized photograph.

How to create a National Pension Scheme (NPS) account online:

Visit the official eNPS website: enps.nsdl.com.
Click on the “Registration” or “Open Your NPS Account” option.
Choose between “Individual Subscriber” and “Corporate Subscriber.”
Complete the online form by providing personal, contact, and bank details.
Upload scanned copies of the required documents.
Make the initial contribution (a minimum of Rs. 500 for Tier I and Rs. 1,000 for Tier II).
An acknowledgement number will be generated, which can be used to track the application status.

After the registration process is completed and the documents are verified, a Permanent Retirement Account Number (PRAN) will be issued, which will be used for all future transactions and inquiries related to the NPS account.