According to a circular issued on August 25, 2022, PFRDA stated that Enrollment The request will be accepted in the CRA system if the Nodal Office does not take any action against it within the allotted 30 days. The amendment in the e-nomination process flow will be effective from 1 October 2022.
The Pension Fund Regulatory and Development Authority in a communication on September 3, 2020, announced the availability of e-nomination service for NPS subscribers. It has now been decided that the nomination request will be given to the Nodal Office with an option to accept or reject it. This. The request will be accepted in the CRA system if the Nodal Office does not take any action against it within the allotted 30 days.
An NPS subscriber has to enroll in the prescribed form while signing up for the National Pension System.
At present, existing subscribers of NPS who wish to change their enrollment in their PRAN can use ‘e-nomination’ through their login credentials. Subscriber can choose to submit the application for change in nomination, physically to the concerned Nodal Officers, Corporate or Point of Presence (POP) as applicable. In case of e-nomination of subscribers belonging to Government/Identified Corporate, the e-nomination requests need to be authorized by the concerned Nodal Office/Identified Corporate to convert the enrollment into PRAN of the subscribers maintained by the respective CRA.
“A large number of e-nomination requests of members are pending, which are attributed to non-authorization by the concerned nodal office/corporate,” the PFRDA said in its latest circular.
“In the interest of the members, it has been decided that once the subscriber initiates the enrollment request, the nodal office will be given an option to accept or reject the enrollment request. If the Nodal Office has not initiated any action against the request within a period of 30 days, the request will be accepted in the CRA system. The revised process flow will also be applicable to the existing e-nominations, which are still unauthorised,” PFRDA said.
In the e-nomination, the Subscribers will also be required to submit an online declaration which states that “I understand and consent to the nomination now being made by me shall be void from inception if it is not in conformity with Regulation 32 of PFRDA ( Exit and Clearance) Regulations, 2015 and amendments”, PFRDA said.
Nomination as per regulation 32. – “Notwithstanding anything in these regulations or any other law for the time being in force, a subscriber, at the time of joining the National Pension System, is required to make a nomination in the form specified, honoring one or more persons The right to receive any sum which may stand to his credit in the accumulated wealth or fund in the event of his death not being paid before that sum becomes due or becomes due.
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