If you or your parents are retiring you must know what is NPS Pran number. The full form of PRAN is the Permanent Retirement Number. This is a 12-digit number that is allotted to every individual against the NDPS account. This is called NPS Pran Number. The meaning of NPA is the National Pension Scheme which was introduced in 2004 for government employees. Later this scheme became accessible to the public in 2009 so that every Senior citizen can enjoy the benefits of the scheme. This is what is NPS PRAN means.
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Now that we have learnt what is PRAN number in NPS, let us learn about the types of NPS PRAN Number. Under PRAN there are two types of NPA accounts.
Tier 1- You cannot withdraw from this account as it is meant for retirement benefits.
Tier 2- You can withdraw your savings from the accounts. But you cannot avail of tax benefits.
After the allotment of PRAN, every NPS subscriber can avail of a physical copy of PRAN or a PRAN card. After the PRAN is allocated it cannot be changed.
I can talk more about the PRAN card but as of now, I am wrapping up. You can easily visit the nearest bank or you can visit the NSDL website to apply for a PRAN card.
Well, this was all about what is NPS PRAN number. I hope you find this informative.
Read more:
Can We Take Loan On NPS?
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What is NPS PRAN number?
Sweta
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2022-06-16T10:15:13+00:00 2022-06-16T10:55:13+00:00Comment
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