Permanent Retirement Account Number (PRAN) is an exclusive 12-digit numerical code allotted to every person who has subscribed to the National Pension Scheme (NPS).

The National Pension Scheme (NPS) is a government-sponsored savings vehicle which provides social-security benefit in the form of pension. It encourages regular investment towards a post-retirement fund. The scheme accepts contribution from employees of every sector, except for those in the armed forces.

Why is PRAN assigned?

The Permanent Retirement Account Number is a unique number issued to every accountholder of the National Pension Scheme. It helps identify and distinguish one subscriber from another, avoids overlapping in case of same names or details and helps subscribers to check the balance in their NPS Account. National Pension Scheme subscribers may apply for a PRAN Card through various modes.

Offline Application of PRAN

Individuals wishing to apply for a PRAN through the offline mode may visit their nearest Point of Presence-Service Provider (POP-SP). Following documents shall be required for such application:

• Duly filled application form
• Passport-sized photograph of subscribe
• KYC Compliance documents - identity proof and address proof

Online Application of PRAN

Subscribers to the scheme may apply for a PRAN online as well, through the NSDL portal. NSDL is the Central Record-keeping Agency (CRA) for NPS, assigned with the onerous task of processing applications for allotment of PRAN.

For this, NPS KYC Compliance shall have to be completed online by either uploading a scanned copy of the Aadhar Card or a scanned copy of the subscriber’s PAN Card. Along with this, a scanned copy of the subscriber’s signature and the subscriber’s photograph shall be required to be uploaded on to the portal. After duly filling out all the mandatory particulars, the subscriber shall be routed to a payment gateway. The application form shall ask for the subscriber’s personal information, bank details, nomination details and particulars related to employment.

Issue of PRAN

Once the subscriber makes an application for PRAN, the POP-SP acknowledges that the form is admitted by issuing a 17-digit unique receipt number. The Permanent Retirement Account Number (PRAN) is generated once the application is examined, and all the ancillary documents verified. The dispatch of a PRAN Card usually takes 20 days from the date of receipt of the duly filled application form. The application status for PRAN can be tracked on the NSDL portal.

Login Using PRAN

The PRAN Card issued by the Government of India incorporates the details regarding the subscriber’s name and father’s name, subscriber’s date of birth, signature and photograph along with the PRAN. Subscribers may use the number printed on the PRAN card to log into their NPS online account. First-time users shall be required to generate a password. After signing in, subscribers can access features of the portal.

Thus, it can be understood that it is compulsory for all subscribers to have a PRAN for their representation under the scheme.

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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

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