Central Government NPS Customers were able to choose pension fund (PF) and Tier I accounts with effect from April 1, 2019. Government customers have the option to choose from pension Fund (PF). As of now, the processing of application for amendment in investment pattern (PF/Asset Allocation) requires approval from the Nodal Office. it included changes investment options done online or offline.

as per latest PFRDA The circular read, “In the interest of the customers and in order to simplify the process, it has been decided to allow online change in investment option, wherein customers can directly submit the request CRA Login and which is to be authenticated through OTP (One Time Password) received on the registered mobile/email-id.

As per the PFRDA circular, Central Government NPS subscribers can choose any one of the following available PF and investment options as per their choice:

a. Active Option – 100% Allocation in Government Securities

B. Conservative Auto Choice – 25% Allocation to Equity Asset Class

c. Moderate Auto Choice – 50% Allocation to Equity Asset Class

As per rules, asset allocation can be changed twice in a year, whereas PF can be changed only once. Subscribers affiliated to State Governments and State/Central Autonomous Bodies can also use the PF and investment pattern of their choice, if the respective Autonomous Bodies and State Governments have given their consent.

Once you amend the investment option option, the accumulated Tier I contribution will be redeemed and reinvested in the new plan. Any additional payment will also be added to the new investment plan, Subscribers are advised to evaluate the performance of each asset type and PF on an individual basis before making their own investment decisions.

However, clients can also go back to using the default investment approach if they so desire.

How to Change Online Investment Options for Government Sector Clients

Step 1: E-investment option by logging into CRA system online

Step 2: Subscriber can make online request by logging into CRA system.

Step 3: This request will be an OTP based request and hence, it is mandatory that the mobile number/email ID of the subscribers is registered with CRA.

Step 4: The request initiated online by the subscriber can be self-authorised and does not require authorization from the Nodal Office in the CRA system.

How to Change Investment Option Offline for Government Sector Clients

Step 1: Subscriber can send a physical scheme preference change request form to the concerned Nodal Office.

Step 2: Subscriber has to download Form GOS-S3 (Request for Change of Scheme Preference) from the CRA website and submit the same to the concerned Nodal Office.

Step 3: The scheme preference change request should be entered and authorized by the Nodal Office in the CRA system.