Changes in process flow of e-Nomination for the benefit Government or Corporate Sector Subscribers

PFRDA : e-Nomination for the benefit Government or Corporate Sector Subscribers

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

CIRCULAR

Circular No. PFRDA/2022/19/SUP-CRA/6

Aug 25, 2022

To,
All the NPS stakeholders

Subject: Changes in process flow of e-Nomination for the benefit Government / Corporate Sector Subscribers

PFRDA had introduced e-Nomination facility for the benefit of NPS Subscribers vide its communication dt. 03.09.2020.

2. The existing Subscribers of NPS who wish to change their nomination in their PRAN can use ‘e- Nomination’ through their login credentials. The Subscribers can also opt to submit the application for changes in the Nomination, physically to the associated Nodal Officers, Corporate or Points of Presence (POPs) as the case may be.

3. In case of e-Nomination of the Subscribers associated with the Government/ Identified Corporate, the e- Nomination requests need to be authorized by the associated Nodal Office/Identified Corporate for changing the nomination in the PRAN of Subscribers as maintained by the respective CRA. There are a large number of pendency of e-Nomination requests of Subscribers, which are attributed to the non-authorization by the associated Nodal Office/Corporate.

4. In the interest of Subscribers, it has been decided that once the subscriber initiates the nomination request, the Nodal Office would be given an option of either Accept or Reject the nomination request. In case, the Nodal Office has not initiated any action against the request within the 30 days period, the request would get accepted in CRA system. The revised process flow shall also be applicable to the existing e-Nomination, which are still unauthorized.

5. The nomination rules are defined by PFRDA Exit Regulations. The relevant extracts of the nomination provided at the Annexure I for ready reference. The Subscribers and stake holders are informed, be guided by the nomination rules, and familiarize themselves while updating the nomination.

6. In the e-Nomination, the Subscribers will also need to submit an online declaration stating that “I understand and consent to that nomination being made by me now shall be invalid ab initio if it is not consistent with Regulation 32 of the PFRDA (Exits and Withdrawals) Regulations, 2015 and amendments”.

7. The NPST/Nodal Officers/POPs/CRA/Corporate can educate their Subscribers about the rules of Nomination and suitably advise them for making the changes in the Nomination if those nominations are not as per PFRDA Guidelines. The roles (indicative but not exhaustive) of each Intermediary/ Employer enclosed at the Annexure II for ready reference.

The revision in the e-Nomination process flow shall be effective from 1st Oct 2022.

Digitally signed by
K MOHAN GANDHI
Chief General Manager

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