PFRDA provides National Pension System (NPS) subscribers with a statement of transactions after the completion of each financial year.
In this article, we will be showing you the details within your bank statement that you need to pay attention towards. These details are mentioned below:
Data pertaining to the subscriber
One of the key aspects of the NPS statement is that it clearly specifies the subscriber’s personal details. These would include name, address, contact details, nominee details, and the name and address of the nodal office. What you need to check is that all these details are updated. If not, please get that done as soon as possible.
Summary of investment
The next big section you need to look at is the investment summary. This section will provide you with a clear snapshot of your NPS account. The section elaborates on the total contribution you have made during the statement period, its total value, and the appreciation in value. Moreover, this section comprises other vital details pertaining to your NPS account such as names of pension fund managers and percentage allocation to each of them.
Details of investment
Next, you need to check the details of investment section, which will provide you with the contribution to made to the corpus pension fund manager-wise coupled with the units and NAV of each pension fund managers, and the return on investment for each pension fund managers in XIRR (annualized) terms for the statement period.
Details of contribution
In this section, you will see the record of all the contributions that you have made as a NPS subscriber along with those made by your employer, if applicable. Moreover, this section also shows you the record of all the withdrawals you have made from your NPS account, mostly the Tier II account.
Details of transactions
This section will provide you with all the details of the NPS contributions and withdrawals based on the pension fund managers coupled with the applicable NAV on that particular transaction date along with the number of units allotted to you.
To invest in NPS or to know more about investing in NPS, write us at firstname.lastname@example.org