A Permanent Retirement Account Number (PRAN) is a unique 12-digit identifier assigned to subscribers of the National Pension System (NPS) in India. It acts as a lifelong account number for managing contributions and tracking retirement savings. PRAN ensures portability, allowing individuals to access and manage their NPS account seamlessly across India, regardless of changes in employment or location.
Overview of PRAN
PRAN is integral to the National Pension System, which was introduced by the Government of India to provide citizens with a sustainable pension plan for their retirement years. Every NPS subscriber must have a PRAN, as it helps in linking and managing all their retirement contributions efficiently.
Why PRAN is Important for Retirement Planning
PRAN plays a crucial role in retirement planning, enabling individuals to contribute to a structured pension plan like NPS. By maintaining a centralised record of contributions and accumulated savings, PRAN ensures transparency and ease of access for the subscriber. Furthermore, tools like the retirement planning calculator allow subscribers to forecast their retirement corpus, which directly ties into their PRAN account.
Key Features of PRAN
Here are some of the key features of PRAN to consider.
PRAN remains valid across the country throughout the subscriber’s life.
PRAN provides access to real-time account details, including contribution history and returns.
The number stays the same even when switching jobs or relocating.
PRAN ensures secure and transparent management of funds within NPS.
What is a PRAN Card?
A PRAN Card is a physical document issued to NPS subscribers, containing their unique PRAN number and other relevant details. It serves as proof of registration in the NPS and provides key account information.
Differences Between PRAN (the Number) and PRAN Card
Aspect
| PRAN (Number)
| PRAN Card
|
Nature
| A unique 12-digit identifier.
| A physical document.
|
Functionality
| Used for tracking and managing NPS.
| Proof of account ownership.
|
Accessibility
| Available digitally.
| Delivered physically.
|
Why PRAN is Essential for NPS Subscribers
PRAN ensures a streamlined process for managing pension plans under the NPS. It acts as a gateway for accessing retirement savings and monitoring the performance of contributions.
How to Apply for PRAN?
Applying for PRAN Offline
Step 1. Visit the nearest Point of Presence (POP)
Step 2. Fill out the application for PRAN number form
Step 3. Submit the required documents along with a fee
Step 4. Receive PRAN and card after verification
Applying for PRAN Online
Step 1. Visit the Central Recordkeeping Agency (CRA) portal
Step 2. Complete the online PRAN number application process
Step 3. Upload documents and pay the fee
Step 4. PRAN is issued post-verification
Apply for PRAN Using Aadhaar Card
- Link Aadhaar for identity verification during the application
Apply for PRAN Using PAN Card
- Use PAN for identity and financial linkage during PRAN registration
NRI PRAN Card Application Process
- NRIs can apply online or via POPs by providing valid overseas address proof and identity documents
Required Documents for PRAN Application
Proof of Identity
- Aadhaar, PAN, Passport, or Driving License.
Proof of Address
- Utility bills, Voter ID, or Rent Agreement.
Proof of Date of Birth
- Birth Certificate or Class 10 Certificate.
NRI PRAN Application
NRIs can participate in NPS by acquiring a PRAN and contributing to retirement savings. Documents such as your passport and overseas address proof are essential for their application.
Applying with Aadhaar or PAN
Both Aadhaar and PAN simplify the PRAN application process by enabling quick verification.
Steps to Activate Your PRAN
Step 1. Receive PRAN after application.
Step 2. Access the PRAN portal using credentials.
Step 3. Set a password and complete activation.
Managing Your PRAN Account
Logging into the PRAN Portal
- Use PRAN and password to access account details.
Resetting Password
- Follow the password recovery process on the portal.
Checking PRAN Card Status
- Track the application or card delivery status online.
Viewing PRAN Account Balance
- Access real-time balance and contributions via the portal.
How to Track Application Status of PRAN?
Visit the CRA portal and use your application reference number to check the progress of your PRAN number application process.
Reasons for Rejected PRAN Applications
- Incomplete documentation.
- Discrepancies in details submitted.
- Mismatched identity or address proofs.
Tier I and Tier II Accounts
Knowing the difference between Tier I and Tier II accounts can help you understand the features and benefits that you may be able to avail of.
- Tier I: Mandatory and offers tax benefits for retirement.**
- Tier II: Voluntary savings without withdrawal restrictions.
How to Print the e-PRAN Card?
Log in to the PRAN portal. Download the e-PRAN for printing. You can either print this directly or download it to print it later at your convenience.
Benefits of PRAN Beyond NPS
- Facilitates structured savings.
- Ensures financial security post-retirement.
- Serves as a consolidated record for retirement planning.
FAQs
How do I find my PRAN number?
Check your NPS account or contact the CRA.
Why is PRAN important for NPS?
PRAN is essential for managing contributions and accessing benefits under NPS.
What is the 12-digit number of PRAN?
The PRAN is a unique 12-digit identifier for NPS subscribers.
Can I have multiple PRAN cards?
No, one subscriber is assigned only one PRAN.
How to contact PRAN Card Customer Care?
Reach out to the CRA’s official helpline for support.
How do I find out my PRAN user ID?
Your PRAN serves as your user ID for account access.
How to unlock a PRAN account?
Reset the password or contact customer care.
How do I retrieve a lost PRAN number?
Use the CRA portal’s recovery option or contact support.
Who is eligible for a PRAN number?
Indian citizens, including NRIs, aged 18–70, are eligible to apply.
** Tax exemptions are as per applicable tax laws from time to time.