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PRAN – Permanent Retirement Account Number

PRAN – Permanent Retirement Account Number

The Central Government has introduced the New Pension System (NPS) with effect from January 1, 2004. The new pension system covers, at present, new entrants to Central Government services (excluding Defence Forces) and is expected in due course to be available to all other citizens of India. Under the new pension system, CRA will be required to maintain subscriber accounts and issue a unique Permanent Retirement Account Number (PRAN) to each subscriber. In this system, deductions towards NPS will be made from subscriber’s salary on monthly basis and equal amount of contribution will be made by the Government. The accumulated amount will be reflected in his/her Permanent Retirement Account while he/she is working and shall use the accumulations at retirement to procure a pension for the rest of his/her life. Subscribers in this system shall enjoy certain facilities and rights including portability across jobs and locations, choices of selection of Pension Funds and investment schemes, freedom to switch between service providers and nationwide access.

NSDL has built necessary infrastructure for providing CRA services to various stakeholders. CRA has gone operational from June, 2008. CRA would manage NPS Contribution Accounting Network (NPSCAN) related data until it is separated from the CRA applications. The NPS is expected to evolve over a period of time to include unorganized sector, self employed persons and any other citizen of India on a voluntary basis. The record keeping function of unorganized sector shall be decided by PFRDA / GoI independently in due course.

Role of CRA in NPS system

a)The recordkeeping, administration and customer service functions for all subscribers of the New Pension System will be centralised and performed by the CRA.

b)The CRA will issue unique Permanent Retirement Account Number (PRAN) to each subscriber, maintain database of all PRANs and record the transactions related to each subscriber’s PRAN

c)The CRA shall be responsible for receiving funds and instructions from subscribers through the nodal offices, transmitting such instructions and funds to the appointed Pension Fund Managers, trustee Bank, Annuity Service Provider effecting switching instructions received from subscribers

d)The CRA will provide periodic consolidated Statement Of Transaction (SOT) to each subscriber and discharge such other duties and functions as may be determined by the guidelines, directions and regulations issued by the PFRDA from time to time

e)The CRA will be responsible to maintain absolute confidentially of all records, data and information. CRA shall produce all this information as and when called for by PFRDA

f)The CRA will be responsible for timely transfer of subscriber contributions information, timely allocation of these funds by PFs, and accurately crediting and reporting allocation of units into each PRAN.

Also Read : National Pension System Updation of AADHAR no. in PRAN of Subscribers

NPS

Main Features and Architecture of the New Pension System

The new pension system would be based on defined contributions. It will use the existing network of bank branches and post offices etc. to collect contributions. There will be seamless transfer of accumlations in case of change of employment and/or location. It will also offer a basket of investment choices and Fund managers. The new pension system will be voluntary.

The system would, however, be mandatory for new recruits to the Central Government service (except the armed forces). The monthly contribution would be 10 percent of the salary and DA to be paid by the employee and matched by the Central Government. However, there will be no contribution from the Government in respect of individuals who are not Government employees. The contributions and returns thereon would be deposited in a non-withdrawable pension account. The existing provisions of defined benefit pension and GPF would not be available to the new recruits in the central Government service.

In addition to the above pension account, each individual can have a voluntary tier-II withdrawable account at his option. Government will make no contribution into this account. These assets would be managed in the same manner as the pension. The accumlations in this account can be withdrawn anytime without assigning any reason.

Individuals can normally exit at or after age 60 years from the pension system. At exit, the individual would be required to invest at least 40 percent of pension wealth to purchase an annuity. In case of Government employees, the annuity should provide for pension for the lifetime of the employee and his dependent parents and his spouse at the time of retirement. The individual would receive a lump-sum of the remaining pension wealth, which she would be free to utilize in any manner. Individuals would have the flexibility to leave the pension system prior to age 60. However, in this case, the mandatory annuitisation would be 80% of the pension wealth.

There will be one or more central record keeping agency (CRA), several pension fund managers (PFMs) to choose from which will offer different categories of schemes.

The participating entities (PFMs, CRA etc.) would give out easily understood information about past performance & regular NAVs, so that the individual would able to make informed choices about which scheme to choose.

NSDL

APPLICATION FORMS :

1.Application for Allotment of Permanent Retirement Account Number (PRAN) (Annexure S1)

2.Request for Activation of Tier-II account under New Pension System (NPS) (Annexure UOS-S10 )

3.Withdrawal form for Tier II account under NPS (AnnexureUOS-S12)

4.Covering Letter with Subscriber Registration Application Form – PAO (Annexure S6)

5.Covering letter for Subscriber Registration Application Form -DDO (Annexure S5)

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431 COMMENTS

  1. Sir, I am working with Punjab Irrigation Department at Chandigarh. PRAN no has been allotted and i am getting sms alerts also. However, i am unable to operate my account online. I want see the balance amount iny account. Plz help me out with problem.
    Thank you.

  2. sir / madam,

    my mother is govt. employee.she has applied many days before for Pran number but till now she has not recived any number .it is very urgent ple tell me how i will check pran number.

    Name – Nutan Kumari

    Fathers Name – Lt. Bishwanath Mandal.

    Date Of Birth – 14-02-1962

    school name- prannot madhya vidayalaya kuraba.
    dist- banka

    contact no -09939069950 / 08800952523

    state – bihar

  3. The scheme is really very atractive. please let me know how i will proceed so that i can be under this scheme with immediate effect. Thanks

  4. sir, my name yadagiri umapathi my pran no is 110030777447 iam working as a teacher from 2005 nov. i got pran card in 2010. i did not received any deposit of PRAN A/C. PLEASE SEND DEPOSITS MONTHLY. MY CELL NO IS 9490130610.MY EMAIL IS [email protected]

  5. i joined as a medical offier at phc in chhattishgarh on 11/10/2012. i have applied for PRAN .. but, till now i haven’t recieved any PRAN card or salary.. please advice ..

  6. Sir/Madam,
    my brother joined in Central Government Service as a clerk in the year 2011. Later he cleared bank exam 2012 and got selection in.In previous department he was allotted PRAN number by NSDL . He did not disclosed that he was a central government employee to his newly joined department .Whether his new department will trace the fact while allotment of PRAN number?If yes ,what should be done in this regard ?Please advice.

  7. I am WCR govt. employee. I have not received my pran number and neither I am receiving any Message. But I have been informed from my office that my pran no. sir I want to know that what can I do to get a new card if the above number is right. I request you to kindly guide me.
    Thank you

  8. Sir/Madam,
    my brother joined in Central Government Service as a Clerk in the year 2005; Later he cleared bank exam 2012 and got selection in . In previous department he was allotted PRAN number by NSDL. he did not disclose the fact that he was a central government employee to his newly joined department. Whether his new department will trace the fact while allotment of PRAN number? If yes, what should be done in this regard? Please advice.

  9. Sir…… Iam R.MALLESHAM,WORKING AS A STATE GOVT EMPLOYEE [A.P],I GOT PRAN NO 110022708027 AND CARD BUT MY EMPLOYEE CODE IS NOT CORRECT ADDED IN THIS STATUS, SIR HOW CAN I ADDED CORRECT EMPLOYEE CODE PLEASE GIVE ME ANY SUGGESTION.

  10. Sir,
    I am Delhi govt. employee. I have not received my pran number and neither I am receiving any Message. But I have been informed from my office that my pran no.is -110021963265. So sir I want to know that what can I do to get a new card if the above number is right. I request you to kindly guide me.
    Thank you

  11. sir, i do central govt. job and i have pran no.I am appearing for other higher jobs like state and union civil services without informing my employer sir i want to know about legal and other problems which may arise in my new job after resigning from previous one due to pran no or any other means which may disclose the fact of previous job to our new employing authority because in every form it is mentioned to inform your employer if you are already in job.what will be of pran after resignation from job? can i avail pran money or not and what are terms and conditions for portability of pran? sir please help me by replying ..

  12. sir,i was working as prt in kvs gandhinagar wef oct2007 to dec 2008 the employer had deducted nps amount from my salary I left the job in dec 2008. let me know how to get nps refunded

  13. sir,i am a state govt employee(punjab).i am working at GMS BASTI BABA JIVAN SINGH(DHARAMKOT) MOGA Punjabi mistress.MY Issued PRAN NO:110082575667 dated 14/9/2012 recieved through message. but i hasnot recieved my pran kit.plz reply current status.my brother ph no.9850043200.

  14. Sir/Madam,
    My brother joined in Central Government Service as a Defence Civilian Clerk in the year 2010; Later he cleared SSC exam and got selection in Central Excise & Customs. In his previous department he was allotted PRAN number by NSDL. As he thought it would be difficult to get NOC from Defence, he had not intimated about his appearance in SSC exam. Now he also not disclosed the fact that he was a central government employee to his newly joined department as he does not have a NOC. Whether his new department will trace the fact while allotment of PRAN number? If yes, what should be done in this regard? Please advice.

  15. Sir,
    how to calculate pension after my age 60 years.
    this time i am 42 years old.
    every month i invest 1000 rupees per month in this pension system.

  16. sir,
    Recently i have resigned from my job after working there for 14 months. Now what do i have to do to get the amount that is in my PRAN of central record keeping agency. Please guide me.

  17. sir,
    I have appointed as asst. audit officer in O/o Accountant General (Audit), Chhattisgarh, Raipur since August 2008 in central government through SSC examination.Now i have selected for Asst. Professor in state government through State Public Service commission.
    I want to close my NPS account and withdrawal balance from NPS account at the time of resigning. It is possible or not. Please advice me. If nor possible than what is the procedure for transferring it also guide me.

  18. Sir,
    I am working in Ministry of Defence as LDC since Feb 12. I have my service book ready and got my PRAN too. Now I have been selected as Auditor in CGDA offices. I have intimated the office when the result was declared. I want to join in my new appointment for better prospect. What is the procedure to continue my service book and PRAN? Is it possible to make my present service period count to the next appointment? Or what to do?
    please give guidance for me.
    Thank You.

  19. I am working in 2006 in state govt of maharashtra. But I leave that job in Aug 2012 and i join central govt. service for the same post. the I am join new posting through proper procedure. In state govt i have DCPS scheme and here NPS scheme. IT is same or different. Shall same A/c No. cont. or not.
    please help me.
    thank you.

  20. Sir Iam working as a teacher. I have not received pran from nsdl. but nsdl customer care manager telling I have send the PRAN number to tresarry office on 10/09/2011.

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