How to Change Your Fund Manager in NPS Account Online: A Comprehensive Guide

Investing in the National Pension System (NPS) is a key component of retirement planning in India. If you wish to change your fund manager in your NPS account, doing so online through the NSDL portal is a straightforward process. This article will guide you through the steps required to change your fund manager while ensuring you are well-informed about the relevant requirements and implications.

Key Steps to Change Your Fund Manager in NPS Online

Changing your fund manager in your NPS account can be done easily online through the NSDL NPS portal. Follow these detailed steps to make the necessary changes:

Step 1: Log in to the NSDL NPS Portal

Visit the official NSDL NPS on the 'Access Your Account' option located on the homepage.Enter your PRAN (Permanant Retirement Account Number) and password to log in. If you don't have a password, you will need to generate one using your PRAN and registered mobile number.

Step 2: Navigate to the 'Change of Fund Manager' Option

Once logged in, look for the option related to 'Change of Fund Manager' or 'Change of Investment Choice'.This is usually found under the 'Transaction' or 'Service Requests' section.

Step 3: Select Your New Fund Manager

You will see a list of available fund managers. Choose the one you wish to switch may also have the option to change the allocation of funds among different schemes.

Step 4: Review and Confirm Your Changes

Review your selections carefully. Ensure that you are aware of any implications of changing your fund the changes by submitting your request.

Step 5: Receive Confirmation

After submission, you should receive a confirmation message or email regarding your request. Keep this for your records.

Step 6: Check the Status of Your Request

You can check the status of your request in the same portal under the 'Transaction History' or 'Service Request Status' section.

Important Notes

Frequency of Fund Manager Change

You can change your fund manager only twice a financial year (April 1 to March 31).

Processing Time

Changes may take a few days to reflect in your account. Therefore, it's important to monitor your account accordingly.

Tax Implications and Risk Profile

Be aware of any tax implications or changes in risk profile associated with the new fund manager or schemes.

Additional Information for PFM Change

For changing Pension Fund Manager (PFM), the process is also described as follows:

Step I: Log-in to Your NPS Account

Login to your NPS account using the UserID and Password. The UserID will be your PRAN.

Step II: Select the Relevant Option

Select the 'PFM' option to proceed with the change.

Step III: Choose Your Account Type

Select the 'Tier I' or 'Tier II' option. Further, you can decide the investment choice (Active or Auto) through OTP authentication.

Remember, you can change your PFM only once, and the fund manager's scheme twice in a financial year.