National Pension System: National Pension System (NPS) is a voluntary pension and retirement scheme, by investing in which you can get a good amount of retirement fund and pension facility.
The Pension Fund Regulatory and Development Authority (PFRDA) regulates the NPS. In such a situation, PFRDA makes all the rules related to it. It is worth noting that PFRDA always advises NPS subscribers to add Nominee, but many times people do not add nominee and they die. In such a situation, it is a common question that if a NPS subscriber has not added a nominee and has died, can the name of the nominee be changed after the subscriber’s death? Let’s know about this-
Can the nominee be changed after death?
On this matter, PFRDA has issued a circular on October 22 informing that only the subscriber has the right to choose the nominee. If any person tries to change the nominee details after the death of an NPS account holder by logging into the account using his/her details, then all the changes made in such a situation will be invalid. Along with this, the process of claim will be started according to the details given by the subscribers. In such a situation, the changes made in the NPS account are valid only when the person is alive.
How to claim if there is no nominee
If an NPS subscriber dies without adding a nominee, then in such a situation only his legal heir can get the claim. For this, the people of his family will have to show the Succession Certificate. This certificate will have to be submitted to the Revenue Department. After this the department will complete the verification process. After this, the entire money deposited in NPS will be given to the legal heir.
This document is required for NPS claim-
- Death Certificate of NPS Subscriber
- Aadhaar Card of NPS Subscriber
- Aadhaar Card of Nominee or Successor
- succession certificate
