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How can a Subscriber Change NPS Scheme Preference?

Oct 21, 2022 Alankit

When it comes to retirement provision, it is essential to create a fund. Creating better Golden Years requires creating a healthy corpus. The National Pension Scheme (NPS) is one such pension plan established by the Government of India to support a person in successful retirement planning.

The government has attempted to lay the foundation for a stronger future through the NPS pension plan, and a Tier I account is the step to be taken if considering enrolling in the scheme. In addition, the scheme meets the pension needs of public as well as private sector employees.

How Can Individuals Apply for NPS?

Alankit, well-versed in the retirement segment, handles all your queries related to your investment and retirement quickly and efficiently. In addition, our NPS professionals specialise in the opening and maintaining your NPS account.

Enrol into NPS with Alankit by simply following these steps.

  • Go to
  • Click on 'Invest Now' to start your enrolment.
  • Fill in your 'Details'.
  • Choose your 'Investment Plan'.
  • Select your 'Fund Manager'.
  • Select the payment breakup details.
  • Mention your Residence Status & PAN details.
  • Verify your 'Mobile Number & Email Id' and 'Bank Details'.
  • Make the Payment.
  • Enter your 'Personal & Nominee Details.'
  • Upload your 'Documents' and click 'Submit' to complete.

You have now subscribed to NPS!

How can a Subscriber Change NPS Scheme Preference?

NPS subscribers have the opportunity to exchange existing units in a given scheme for another and also to change the pension fund manager. The scheme preference change request is made online or through the Point of Presence – Alankit, and the option can be exercised twice in a tax year.

In offline mode, a physical application form can be downloaded from the websites of the relevant central recording authority. NPS Investors can invest in a mix of equities, corporate bonds, and government securities, with a maximum equity allocation capped at 75%.

  • Choose the Ratio of Fund Allocation: NPS gives you the power to choose the pension plan you want to invest your money in and lets you select the fund manager. In addition, you can indicate your preferences for using funds, i.e., what proportion of your contribution you want to invest in.
  • Active vs Auto: NPS offers two investment modes: active and auto. In auto mode, the proportion of your investments is determined in advance based on your age. If you want to change this ratio, you must first switch to active mode. However, remember that scheme settings can only be changed once a year.
  • Investments Via Corporate: If you invest in NPS through your corporate employer, the employer must provide you with all the options to choose from to change your preference.
  • Physical Form: A form, UOS-S3/CS-S3, has to be filled in and submitted to the PoP-SP through which the NPS account was opened. The PoP will then issue a 17-digit acknowledgement number. Forms for Tier 1 and Tier 2 accounts should be submitted separately.
  • Transaction Charges: CRA providers charge a transaction fee at PFRDA-approved standard rates.
  • Confirmation: You can confirm changes to your account by logging into your NPS account with the CRA using your I-PIN. An email will also be sent to the email address you entered to confirm the change.

Why Alankit?

Alankit is the right choice if looking for the best end-to-end retirement solutions, as our team of experts undertakes all problems and provides dedicated solutions. We are also responsible for handling and managing your initial NPS registration and preference changer, along with transmitting the information systematically to the designated intermediaries in an uncomplicated manner.

Alankit assures its customers of quality services, including:

  • Expert Guidance Throughout
  • Quick Subscriber Registration Process
  • Tax Benefits

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