How to Change Name in an NPS Account Online?

How to Update the NPS Master Details?

The Central Recordkeeping Agency (CRA) handles all requests for changes or updates to your NPS master details. To make corrections such as updating your name, address, email, nominee, or bank account information, you need to submit Form S2. This form is the official request form for updating your NPS Master details.

What are the NPS Form S2 Components?

The NPS Form S2 is the primary form used for updating master data and includes several sections. Here is a breakdown to help you understand when to use each part.

• Section A - Personal Details: For updates related to your name, parent details, contact information, mobile number, email, and bank details.

• Section B – Nominee Details: Add or modify up to three nominees and allocate or update their details here, including specifying the percentage share of the corpus in your existing NPS Tier 1 and Tier 2 accounts.

• Section C – Reissue of IPIN and TPIN: Request for a new internet or telephone PIN.

• Section D – Reissue of Permanent Retirement Account Number (PRAN): Request a new PRAN card with a valid reason.

Ensure that the relevant section is correctly filled to avoid processing delays.

Changes You Can Make Online Through the CRA Portal

Once logged into your NPS account, you can update the following details online:

1. Permanent and Communication Address

   • Go to 'Update Details' → 'Update Aadhaar / Address Details'
   • Modify the address and submit
   • Complete OTP-based Aadhaar authentication

2. Scheme Preference

   • Navigate to 'Transact Online' → 'Change Scheme Preference'
   • Select Tier 1 or Tier 2
   • Choose your investment option:
     Auto: Aggressive / Moderate / Conservative
     Active: Define your Equity, Debt, and Government Security ratio.

3. Email and Mobile Number

   • Click 'Update Contact Details.'
   • Enter or modify your email ID and mobile number
   • Authorise changes via OTP
   • You'll receive a confirmation via SMS and email

4. Resetting IPIN

   • Select 'Resetting of PIN' under 'Value Added Services.'
   • Enter the required details and verify via OTP
   • If no mobile number is registered, the Nodal Office authorises the request.

   Alternative method through the eNPS portal:

   • Click 'Forgot Password' on the homepage
   • Choose 'Instant Reset PIN.'
   • Enter DOB or PRAN
   • Set a new password
   • Verify with OTP and submit

5. Aadhaar Update

   • Select 'update Adhaar / Address Details
   • Enter your Aadhaar number
   • Authenticate using OTP from UIDAI
   • Upon successful verification, Adhaar gets linked to your PRAN

6. Nomination

   • Visit the 'Demographics Changes' section and click on 'Update Personal Details.'
   • Choose 'Add or Update Nominee Details.'
   • Select account type and update nominee information
   • Finalise changes via Aadhaar OTP and e-signature
   • If e-signatures fail, manual submission is required.

Tax Benefits from NPS Contributions

The Income Tax Act allows tax deductions for NPS contributions under three different sections. Here's how each one works:

Key Takeaways

Your NPS membership is crucial for financially secure retirement planning. Ensuring your details are correct in the CRA database is important to avoid issues when you reach retirement age. If you need to update your name, act promptly to prevent future complications. By addressing changes like this early on, you can ensure a smooth experience when you retire, allowing you to make the most of the government's social security initiative.

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