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

Under the National Pension System (NPS) Tier I account, which of the following statements about the Permanent Retirement Account Number (PRAN) is correct?

A subscriber holds a single PRAN under NPS, and it remains the same when the person changes jobs or city. It is unique and portable, so no fresh number is issued per employer or per pension fund, and it is not limited to government employees.

  1. AA subscriber may hold only one PRAN, which stays the same across jobs and locationsCorrect
  2. BA new PRAN must be issued every time the subscriber changes employer
  3. CA separate PRAN is issued for each pension fund chosen
  4. DA PRAN is issued only to government employees

Explanation

NPS gives each subscriber a single unique PRAN that is portable across employers and cities. A new PRAN is not issued on a job change, and the number is not tied to a pension fund. It is also open to private-sector individuals, not only government staff.

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