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What does PRAN Number Mean?

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What does PRAN number mean?
February 09, 2024

Table of Content

 

Permanent Retirement Account Number - PRAN

PRAN number, also known as Permanent Retirement Account Number, is a 12-digit unique identifier assigned to individuals enrolled in the National Pension Scheme (NPS). It is crucial for managing retirement accounts, contributing towards savings, tracking pension funds, and accessing NPS benefits. PRAN number serves as a permanent and secure reference for all NPS transactions, and it is mandatory for certain government employees.

There are two categories of NPS accounts held under PRAN: Tier-I, which is designed for retirement savings and cannot be withdrawn, and Tier-II, which functions like a regular savings account and allows for withdrawals but does not provide tax advantages.

What is PRAN Card

Once a PRAN is assigned to an NPS subscriber, they have the choice to receive a physical PRAN card as proof of their unique identifier. This PRAN card remains fixed for the subscriber's entire lifetime and cannot be altered.

How to Apply for PRAN Card Offline? 

To apply for PRAN offline, visit your nearest Point-of-Presence (PoP) under the National Pension System, typically your bank. PoPs are authorized to handle various NPS activities like accepting deposits, processing transfer of NPS accounts, partial withdrawals, and changing nominations.

Form for PRAN card application

The application form for the PRAN card is the same as the application form for subscribing to the National Pension System.

PRAN Card applicants should note the following when applying:

  • Details about the subscriber

  • Details of the subscriber's employment

  • Details of the subscriber's nomination

  • Details of the subscriber scheme

  • A declaration by a subscriber to the Pension Fund Regulatory and Development Authority (PFRDA).

The Annexure S1 Form can be downloaded here

How to Apply for PRAN Card Online? 

In India, NPS accounts can be opened online through either the NSDL or Karvy websites, which are the designated CRAs. Both Aadhar cards and PAN cards can be used to apply for a PRAN online.

The detailed steps are listed below:

Apply for PRAN using Aadhaar Card

Use Aadhaar to apply for PRAN

  1. The NPS KYC can be completed using the Aadhaar One Time Password (OTP).

  2. Aadhaar OTPs are sent to the mobile numbers registered with Aadhaar.

  3. The Aadhaar database will automatically populate your demographic information and photo.

  4. All mandatory details may need to be filled out online.

  5. A scanned signature (in .jpg/.jpeg format with a file size of 4kb - 12kb) is required during registration.

  6. Upload a scanned photo if you wish to replace the one obtained from Aadhaar.

  7. Payments can be made by debit/credit card or internet banking to your NPS account through a payment gateway.

Apply for PRAN using PAN Card

Use PAN to apply for PRAN 

To apply for PRAN using your PAN Card, you must have a PAN (Permanent Account Number) Card. Following are the key points that you should consider as you apply for PRAN through PAN:

  1. For KYC verification, eNPS subscribers must have an account with the empanelled bank.

  2. During registration, the bank you select will verify your KYC.

  3. For KYC verification, the name and address provided during registration must match the bank records.

  4. The request is liable for rejection if the details don't match. If the selected bank rejects KYC, applicants should contact the bank.

  5. All mandatory details must be filled out online.

  6. Upload your scanned photograph and signature in .jpeg or .jpg format with a file size between 4kb - 12kb.

  7. Internet Banking will direct you to a payment gateway to make the payment.

NRI PRAN Card Application Process

In order to apply for a PRAN Card, NRI subscribers should follow these steps:

  1. Choose either Non-Repatriable or Repatriable Bank Account Status.

  2. Upload a scanned copy of your passport and the NRE/NRO bank account details.

  3. You can choose either a permanent address in India or an overseas address (communication at an overseas address will incur extra charges).

Documents Required for PRAN Card Application

To apply for a PRAN Card, you must submit the following documents:

  1. Aadhar Card

  2. Your assigned Permanent Account Number (PAN) by the Income Tax Department.

  3. A scanned copy of a passport-sized photograph.

  4. A scanned copy of your bank passbook/cancelled check.

  5. A scan of your signature.

  6. For NRI applications, a scanned copy of your passport is required.

Scan copies of the documents mentioned above should not exceed 12kb in size, and must be in .JPG or .JPEG format.

How to Activate your PRAN Card

You can activate your PRAN card the easiest way possible by using the eSign option. In the case of a PRAN card generated using Aadhaar, you have the option to eSign the document by implementing the following steps:

  1. To generate OTP for PRAN Card activation, select the 'eSign' option on the eSign/Print & Courier page.

  2. Your Aadhaar-registered mobile number will receive an OTP for authentication.

  3. A confirmation message will be displayed after authentication using the Aadhaar OTP.

  4. Your PRAN card will be activated by CRA once the document is eSigned.

  5. Service fees for eSign are Rs. 25.90 plus applicable service tax (including UIDAI charges of Rs. 20).

Steps to Login to PRAN Card Portal for NPS

To log into your NPS account online, use the PRAN number printed on your PRAN card. Here are the steps for logging into your PRAN Card:

Step 1. When you already have a PRAN card, go to the NPS Login Portal and click 'Login for Existing Subscribers'

Step 2. In order to access your NPS account, you must enter your Permanent Retirement Account Number as well as your NPS account's password. Whenever you forget your login password or wish to sign up for online PRAN card services, click on 'Generate/Reset Password'. 

How to Print e-PRAN Card?

  1. Go to eSign/Print & Courier and select ‘Print & Courier’

  2. Print the form and paste your photograph in the designated area. Staples/pins should not be used to attach photographs

  3. Use the designated blocks for signatures

  4. The PRAN card application form with photograph must be sent to the applicable CRA (Karvy/NSDL) within 30 days of PRAN card allocation

You can choose to download and print your PRAN card or opt for the electronic version, known as ePRAN, through your NPS account. While ePRAN printing is free, there may be charges for getting a physical PRAN card delivered to your registered address.

How to Check PRAN Card Status 

For those who opt to receive their PRAN cards physically, they can easily track the status of their cards online.

If you have received a new PRAN card, a reissued PRAN, or reissued password/T-PIN, you can check the 'Dispatch Status'.

How to Check PRAN Card Balance? 

To check your PRAN card balance, simply log in to your National Pension System account. From there, you can view the balance in both your compulsory Tier 1 account and optional Tier 2 account.

How to contact PRAN Card Customer Care? 

The NPS customer care system also serves as the PRAN Card customer care system, providing assistance through various channels such as phone, fax, email, and in-person visits to representative offices.

Can I Have More Than One PRAN Card

According to the rules of NPS, individuals are only allowed to hold one PRAN number and PRAN card. This means that even if you change jobs, you can continue using your existing NPS account without the need to open a new one. However, you do have the flexibility to transfer your NPS account from one location to another if needed.

Currently, the NPS and APY systems are not integrated, resulting in individuals potentially having multiple PRAN cards. However, these cards can be merged in the future.

FAQs on PRAN Number

Q: How do I find my Pran number?

To locate your PRAN number (Permanent Retirement Account Number), you have the option of reviewing your account statement from the National Pension System (NPS) or accessing the official NPS website and utilising the "Forgot PRAN" feature if necessary.

Q: Why is PRAN important?

PRAN, or Permanent Retirement Account Number, plays a vital role in the National Pension System (NPS) by providing a distinctive identification for individuals. This enables effortless monitoring and administration of their retirement funds.

Q: What is the 12-digit number of Pran?

In India, the PRAN (Permanent Retirement Account Number) is a 12-digit unique number for participants in the National Pension System (NPS).

Q: Can I have multiple PRAN cards?

No, multiple PRAN (Permanent Retirement Account Number) cards are prohibited for individuals since each participant in the National Pension System (NPS) is assigned a unique identifier. 

Annuity Service Providers:

PFRDA is a statutory body set up by the Government of India to regulate and develop the pension sector in India. An annuity pension is a type of pension in which the pensioner receives a fixed monthly income as per terms and condition of the plan

The relationship between PFRDA and ASPs (Annuity Service Providers) is that PFRDA is the regulator of the National Pension System (NPS), and ASPs are the entities that provide annuity services to NPS subscribers. When an NPS subscriber reaches the age of 60, they are required to annuitize at least 40% of their pension wealth. They can do this by purchasing an annuity from an ASP that is empanelled by PFRDA

You can select any of the annuity schemes offered by Annuity Service Providers (ASPs) registered with IRDAI and empaneled with PFRDA. HDFC Life is one of the registered ASPs for annuity issuance and further servicing.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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