How to Check Your NPS Balance?

The sum of money that accumulates in your National Pension Scheme (NPS) account is entirely dependent on two factors. Firstly, the annual contributions you make into your NPS account voluntarily, and secondly, the income generated from investing 40% of the maturity amount in the purchase of annuities. In this article we’ll talk about how to check your NPS account balance and how to get NPS statement.

Functionality of NPS:

Before we examine how to check NPS balance, let’s explore NPS Account, and it’s 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 Rs. 6,000 as 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 After retirement, a part of the sum, about 60% can be withdrawn.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.

Withdrawal Limits:

In the NPS there are 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. On the other hand, 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’ve covered everything about the NPS balance in both accounts let’s explore how to check NPS balance.

Ways to Check NPS Balance:

NPS offers both online and app facilities for checking NPS account balance and NPS account statement.

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, proceed to select the Transaction Statement button and then 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 plays a crucial role 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 log in details for 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 from before you take any/refrain from any action.