How​‍​‌‍​‍‌​‍​‌‍​‍‌ to Change Nominee in NPS

Someone is always there to bear your burdens but what if it is the other way round and you leave your loved ones’ care unattended. If you would not want such a situation to happen then you have to make sure that the nominee in your NPS account is up to date. It is such a great service to help you understand the importance of the change and also give you the stepwise instructions on doing it right away and without any fuss.

Why Change Your NPS Nominee?

Altering the nominee in your NPS account may be the consequence of life changes, e.g., you may have tied the knot, become a parent, or lost a loved one. These events may imply that you want to designate your pension benefits to that person who really deserves to be your new nominee. At times, changing the nominee may signify that you are reassessing the distribution of your assets among the members of your pedigree or that you are simply sharing the financial benefits with them.

Who Can Be a Nominee?

You are allowed to assign up to three different people as your nominees in the NPS Tier 1 account. It is up to you to decide what amount each nominee will be given, and in case that any of the nominees are minors, you have to provide the details of their guardian. It is in such a manner that your pension amount can be transferred to the right people without any inconvenience.

How to Change Nominee in NPS Online

1. Visit the Official NPS CRA Portal:
   1. Go the NSDL CRA website or the Protean eGov portal to find the Official NPS CRA Portal.
2. Log In Using Your PRAN and Password:
   1. Login by using your Permanent Retirement Account Number (PRAN) and password. Once you request the OTP be sent to your registered mobile, you will get it there only. Put it down to verify the operation.
3. Go to 'Update Personal Details'
   1. The service of modifying the nominee can be found under the “Personal Details” tab.
      
       
4. Enter New Nominee Details
   1. Should be typed out the first-hand information of the nominee like name, relationship, and date of birth. Also, write down the account percentage if more than one nominee is already registered.
5. Upload Documents (If Needed)
   1. You have to provide a filled declaration form (form S2) or an identity proof file.
6. Confirm and Submit
   1. Double-check the edits, confirm by typing in the received OTP or by e-sign and click the submit button.
7. Get Confirmation 
   1. An SMS or e-mail informing you about the change being completed will be sent to you.

How to Change Nominee in NPS Offline

1. Download Form S2:
   1. Nomination change form can be downloaded either from the official NPS website or the PoP from where you access the service.
2. Fill the Form:
   1. On the form, write your PRAN, new nominee information and percentage of the allocation.
3. Attach Documents:
   1. If there is a request for it, then also provide the nominee’s ID proof.
4. Submit at Your Nearest PoP/Nodal Office:
   1. Submit the form together with the documents in front of an officer by yourself.
5. Wait for Confirmation:
   1. Upon confirmation, you will be informed of the change.

Things to Keep in Mind

• Also, it is a good routine to keep the updated nomination file or a screenshot that would show your nominee details.
• Be sure that all records are in harmony with your registered data so as not to be delayed.
• Requirement of corporate NPS account may lead to an employer approval notice.
• It is also worth noting that changes do not affect the pension account and thus they can be made whenever one wishes.

Conclusion

The point is, changing your nominee is a very small step on the way to providing your family with a secure future. Life is full of changes, so make it your habit to check and changing nominees regularly. By doing this simple thing, you can have serenity knowing that they are those people who will get your pension ​‍​‌‍​‍‌​‍​‌‍​‍‌savings.