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PRAN Card: National Pension System is such a scheme, which gives pension benefits to the investors every month after retirement. Applicants need PRAN to avail benefits under this scheme. Permanent Retirement Account Number is a 12 digit number. It identifies those people who have registered themselves under the National Pension System.
Central and state government employees can take the PRAN card from the National Securities Depository Limited (NSDL) by registering. There are two types of NPS accounts under PRAN. You cannot withdraw money under Tier 1, but money can be withdrawn under Tier 2. However, a large account is available after retirement on equity investment.
PRAN card requirement
After getting the PRAN card, the NPS subscriber should keep a copy of his PRAN card. It is needed at every step. PRAN is required when you apply for NPS and it is also required when you go to withdraw money. PRAN card works like a unique ID in a way. For this reason it cannot be changed.
How can apply
You can apply for your PRAN card both online and offline. The PRAN card is the application form used for the membership of NPS. This includes personal details, subscriber details, nomination details, subscriber scheme details and PFRDA declaration.
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How to get PRAN card online
You can do the entire process of account opening on NSDL or Karvy website. Here you can get PRAN card with the help of your PAN card and Aadhaar card. To invest in NPS, you must have documents like passbook, photo along with identity, address proof and other details.
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