The National Pension System (NPS) is an initiative introduced by the Government of India to help you secure your golden years. This retirement savings scheme helps you divert funds appropriately and in a measured manner.
While investing in NPS has been made mandatory for government employees, it is an optional subscription for others. NRIs (Non-resident Indians) can also opt for this pension plan, provided they meet certain terms and conditions.
Similar to other schemes, you need to complete and submit certain forms to invest in NPS. Depending on whether you need to start a new NPS account or update the nominee details, the form varies, and you must be aware of this.
Read on for a brief overview of various NPS forms and the process to complete them.
There are primarily three different types of NPS forms applicable in India, which include the following:
Account maintenance forms
Subscriber registration forms
Amount withdrawal forms
Depending on whether you have opted for an NRI NPS scheme or the regular model, you may find differences in these NPS forms. The NPS CSRF form is the main form you have to fill in when enrolling for the scheme.
This form is a part of the subscriber registration forms. In case you need to make any corrections to your form, you need to use the NPS S2 form. You may even update your nominee details using this NPS form. This is included in account maintenance forms.
Apart from these, there are certain annexures to CSRF forms in NPS you may need to fill in, depending on your requirements. When you need to exit from NPS, you must complete certain NPS withdrawal forms.
Note that these withdrawal NPS forms vary based on your requirement. For instance, if you are exiting the scheme due to superannuation, the form you have to complete is different.
Similarly, if you take a premature exit from the NPS scheme, the form is different. Another instance of an amount withdrawal NPS form is when the subscriber dies, and the claimant needs to withdraw from the scheme.
The remaining amount of withdrawal forms includes a partial withdrawal form for Tier 1 accounts and complete withdrawal forms after you reach 60 years.
The CSRF full form in NPS stands for Common Subscriber Registration Form. As the name implies, the CSRF 1 form is mandatory for all those who are interested in investing in the NPS scheme.
As the CSRF 1 form is a common type of form, this is applicable for all subscribers, irrespective of whether they belong to the central or state government NPS, all citizen model and corporate sector NPS.
You can download the NPS CSRF 1 form for free from the NSDL website
After this, you need to print the form and complete relevant details to initiate your NPS registration process.
Here are a few particulars of the CSRF 1 form you need to complete:
NPS option information
Pension fund selection
FATCA (Foreign Account Tax Compliance Act) declaration
Note that CSRF1 has a few annexures to be completed. Annexure 1 is mandatory if you need to activate your Tier 2 account. As such, NPS lets you invest in two different accounts, such as Tier 1 and Tier 2 accounts.
While the Tier 1 account is compulsory for all NPS subscribers, maintaining the Tier 2 account is optional. If you are interested in activating the Tier 2 account, you can opt for Annexure I to the CSRF 1 form.
There is another annexure called Annexure II to the CSRF 1 form. This can be completed by new subscribers if they wish to provide additional details other than what is being mentioned in the NPS CSRF 1 form.
You can complete Annexure I and activate your Tier 2 account by providing the following details:
Your PAN card information
Your bank account details
Selection of the pension fund
Asset allocation across bonds and equities
A suitable investment option you prefer
You can then submit the form to CRA (Central Recordkeeping Agency) to get your Tier II NPA account activated.
To provide additional key details, you must complete Annexure II to CSRF 1 only in the following circumstances:
Fill in your Father’s name only if it exceeds the character limit of 30 available on the first page of the CSRF 1 form
Mother’s name to be included only if you want her name to appear on your PRAN (Permanent Retirement Account Number) card instead of your father’s name
The third option is to print your PRAN card in Hindi instead of the default English language
This is mandatory if you want to add or update the nominee details. You can provide the names of up to 3 nominees.
This is an Annexure form used as a covering letter for new PRAN registration forms. The S5 form in NPS has to be attached by the Drawing and Disbursing Office or DDO or the NPS Lite Collection Centre (NL-CC).
The NPS form S5 has to be added mandatory to your registration form before being sent to the NPS Nodal Office. Both DDOs and NL-CC have different versions of the NPS S5 forms. You can download this annexure covering letter from the NSDL website. (https://npscra.nsdl.co.in/download/government-sector/central-government/forms/S5_DDO-Covering-letter-for-subs-registration.pdf)
This covering letter includes a declaration by DDO or NL-CC that the furnished details are accurate and requisition for the allotment of a new PRAN. The concerned officer needs to sign and stamp the acceptance date and branch details.
The S2 form in NPS is known as the change or correction form. As an existing NPS subscriber, if you wish to change any particulars, you need to submit the NPS S2 form.
In case you wish to change your nominee details, you may do so by submitting this form.
Here are a few sections you can find in the NPS S2 form:
Change in personal information
Details of the nominee
Requisition for the reissuance of I-PIN and T-PIN
Requisition for the reissuance of PRAN card
In section A of the NPS S2 form, you can make corrections in your name, parents’ name, email ID, bank details or address. Section B allows you to add up to 3 nominees and complete their essential details.
With the help of I-PIN and T-PIN, you can easily access your pension account using the telephone or the Internet. In case you want the reissuance of these details, you may do so by filling in the section C of the S2 NPS form.
If you require a new PRAN card, you must fill in section D of the form. It is important to state the reason for the reissuance of a new PRAN card.
The NPS S2 correction form is an ideal option if you want to change or edit the master details of your subscriber form. Provide accurate master details and PAN information to ensure changes in the form are entered correctly.
Here are a few documents you may have to submit after you complete your NPS S2 form:
ID proof: Voter ID/Passport/Aadhaar card/Driving licence
Address proof: Ration card/Utility bills/Passport/Aadhaar card
A cancelled cheque
You can download the S2 form in NPS from the NSDL website (https://www.npscra.nsdl.co.in/download/government-sector/central-government/forms/S2_Subscriber-detail-change-request-form.pdf)
After you download it, print the form and enter the details accurately. You can then submit it along with the necessary documents to the concerned authority.
This form lets NRIs (Non-Resident Indians) invest in this scheme. Complete this NSRF form as an NRI to enjoy the benefits of the National Pension Scheme. However, make sure you have an operational NRE or NRO account to help you transfer funds to the Tier 1 or Tier 2 accounts.
All NRIs need to submit PAN and Aadhaar card details when enrolling in this scheme. Here are a few particulars you need to complete in an NSRF form.
Your personal details
The country and city of birth
Permanent residential address of India
NRO/NRE bank account details
Details of the nominee
Pension Fund Manager
This form is essential if you want to activate your Tier 2 account. Note that this form is different from the Annexure 1 of CSRF 1. You can submit this form only if your Tier 1 account has a good standing.
Simply fill in your details such as your name, PRAN and bank account number. You can add up to 3 nominees and decide the percentage share each nominee must get. Also, you can select your Pension Fund Manager and provide your choice of investment.
This form has to be completed by authorised signatories at the Pay and Accounts Office (PAO). One of the crucial responsibilities of PAO is to maintain records of NPS contributions. The Annexure S6 is attested by an authorised signatory and contains all the information pertaining to new PRAN registration forms.
Note that this NPS form is exclusively used for office use and not to be completed by an NPS subscriber.
Before investing in the NPS scheme, be aware of different types of NPS forms to help you start an NPS account hassle free. If you require any additional details regarding the NPS Tier I and Tier II accounts, you can find relevant information at Bajaj Markets.
Once you print the form and complete the necessary details, you can send the form along with supporting documents to the NSDL head office in Mumbai.
Here is the mailing address:
National Securities Depository Limited, 4th floor, 'A' Wing, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.
No, you can maintain only a single account as you are allotted a unique PRAN card for your account.
Yes, you can use this form to update or edit your master details, such as your name, nominee details, address, etc.
You can update and add up to a maximum of 3 nominees using the Annexure III of your CSRF form.