How To Check Your NPS Balance?

Among many investment options available on the market, National Pension Scheme (NPS) is preferred by many. The National Pension Scheme (NPS) is a voluntary retirement savings scheme in India that allows individuals to contribute regularly during their working years. It provides a pension upon retirement by investing contributions in a mix of equity, corporate bonds, and government securities.

The amount of money accumulated in your National Pension Scheme (NPS) account depends entirely on two factors: Contributions you make to your NPS account voluntarily and the income generated from investing 40% of the maturity amount in annuities. In this article, we will discuss how to check your NPS account balance and how to obtain your NPS statement.

Before we examine how to check the NPS balance, let’s explore the NPS Account and its functionality.

• NPS is a Government-sponsored retirement planning scheme meant for those without the benefits of a steady pension after retirement.
• One has to contribute a minimum of ₹6,000 as an NPS account balance every year till retirement.
• After retirement, a part of the sum, about 60%, can be withdrawn.
• It is mandatory to use the remaining 40% to purchase an annuity and secure a regular post-retirement income out of the NPS balance.

The NPS has two types of accounts: Tier I and Tier II.

• The Tier I NPS account is non-withdrawable till the account holder is of 60 years of age or he/she has retired.
• Tier II NPS account functions as a voluntary savings account, and individuals holding Tier II accounts can withdraw their accumulated money whenever they want.

Now that we have covered everything about the NPS balance in both accounts let’s explore how to check NPS balance.

NPS offers both online and app facilities for checking NPS account balances and NPS account statements.

Online method:

• Step 1: Go to the CRA website and enter your credentials, such as your Permanent Retirement Allotment Number (PRAN) number as USER-ID and your account password to log in to your NPS account.
• Step 2: After logging in successfully, select the Transaction Statement button and click on the Holding Statement button. This will display your accumulated NPS balance.
• Step 3: Click on the transaction statement button to generate the details of your transactions (including your contributions).

App method:

The Unified Mobile Application for New-age Governance (UMANG) platform is crucial in checking your NPS account balance through the app. UMANG is a government initiative to offer individuals a range of E-gov services under a single platform. Both Employee Provident Fund Organisation (EPFO) and NPS services are readily available on the UMANG platform.

All you need to do is download the UMANG app and log in. Then, search for NPS and enter your NPS login details for the NPS balance check.

Simple, right? Now, you can quickly check your NPS balance whenever you want.

Ready to open your NPS account? Click here!

Investing in an NPS account? Know these rules now!

* Terms and Conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice before you take any/refrain from any action.