If you have an NPS (National Pension Scheme) account and are looking to move your funds to a different account, it’s now super simple! NPS has introduced a new feature called D-Remit, which allows you to transfer funds online without any paperwork.
To use this service, all you need to do is create a Virtual ID through the CRA System. With D-Remit, you can transfer as little as Rs 500, and the best part? It’s completely free! In the past, transferring NPS funds involved a lot of hassle and required numerous documents, but D-Remit makes it a breeze to do everything online.
This feature ensures that your long-term investment remains uninterrupted when you switch fund managers or jobs, keeping your pension contributions steady.
To get started with D-Remit, NPS subscribers need to have a Virtual ID (Virtual Account). You can create this ID linked to your PRAN (Permanent Retirement Account Number) by visiting either of these links: https://cra-nsdl.com/CRAOnline/VirtualIdCreation.html or https://enps.kfintech.com/dremit/prelogindremit/. After that, you’ll receive an OTP on the mobile number registered with your PRAN for verification.
With D-Remit, you can transfer a minimum of Rs 500, and there’s no extra charge for NPS customers to use this feature. Once you log into your net banking, just add the Virtual ID as a beneficiary along with the IFSC details of the trustee bank to set up the fund transfer or auto debit. PRDRA suggests labeling the fund transfer through D-Remit as ‘NPS Contribution for D-Remit’.