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NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Retirement Products

Under the National Pension System (NPS) for non-government subscribers, which statement about the Permanent Retirement Account Number (PRAN) is correct?

A subscriber holds one PRAN, a unique portable account number under NPS. It stays unchanged when the person changes employer or city, so the retirement corpus is tracked in one account. Multiple PRANs per person, or one per pension fund, are not allowed.

  1. AA subscriber can hold only one PRAN, which stays the same across jobs and citiesCorrect
  2. BA new PRAN is issued every time the subscriber changes employer
  3. CA separate PRAN is issued for each pension fund chosen
  4. DA PRAN is issued only for Tier II accounts

Explanation

The PRAN is a unique, portable 12-digit number allotted to each subscriber. It remains the same when the subscriber changes job or location. Issuing multiple PRANs to one person is not permitted, so the other options are wrong.

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