Permanent Retirement Account Number (PRAN)


The Permanent Retirement Account Number (PRAN) is a unique number that is given to people who are signed up for India’s National Pension System (NPS). The NPS is a pension plan that was set up by the government of India. It is built on voluntary contributions and is meant to give members an income in retirement.

The PRAN is an important way for NPS members to be identified, and it helps keep track of their payments, investments, and other information about their pension funds. It is a 12-digit number made up of letters and numbers that is given to each user.

Here are some important things to know about the PRAN:

1.Issuance: The PRAN is given out by the Central Recordkeeping Agency (CRA), which was put in charge of that job by the Pension Fund Regulatory and Development Authority (PFRDA), which is in charge of regulating and keeping an eye on the NPS.

2.Application: People who want to join the NPS must apply for a PRAN through one of the PFRDA-approved Point of Presence (PoP) service providers. You can send the application online or in person, along with the necessary documents and payment.

3.Unique Identification: Each user has their own PRAN, which stays the same for their whole life. It helps keep track of the subscriber’s NPS payments and purchases in one place.

4.Account management: The PRAN is tied to the subscriber’s NPS account, which is where the subscriber’s contributions and (if applicable) the employer’s payments go. The PRAN also has information about the subscriber’s chosen pension fund and investing choices.

5.Accessibility: NPS subscribers can use the CRA’s web portal to get details about their PRAN, such as their account amount, transaction records, and how their investments have done. Subscribers can control and keep an eye on their NPS accounts through this site.

6.Portability: The PRAN is movable, which means that it can be moved to different jobs or places within India. Even if a user changes jobs or moves, their PRAN stays the same and their payments keep going into the same account.

The PRAN is a very important part of making sure that handling NPS pension plans is clear, easy, and efficient. It helps people plan for their retirement by giving them a regular way to put money into their pension fund, which they can use when they leave or as the NPS rules say they can.


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