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

Under the National Pension System (NPS), which feature distinguishes the Permanent Retirement Account Number (PRAN) from other retirement account identifiers?

The PRAN is a unique permanent number allotted to an NPS subscriber that stays unchanged when the subscriber changes jobs or city. This portability is its defining feature, and it is not tied to an employer, a pension fund or a particular tier.

  1. AIt is a unique number allotted to a subscriber that remains the same across jobs and locationsCorrect
  2. BIt changes every time the subscriber changes employer
  3. CIt is issued separately for each pension fund chosen by the subscriber
  4. DIt is valid only for the Tier II account and not for Tier I

Explanation

PRAN is a single unique 12-digit number given to each NPS subscriber and it stays the same across employers, cities and sectors, giving portability. The other options describe features that do not exist: it is not changed by employer, not per fund, and covers both tiers.

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