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

Under the National Pension System (NPS), which of the following correctly describes the Permanent Retirement Account Number (PRAN)?

The PRAN is a unique, permanent number given to an NPS subscriber that stays the same across jobs and locations. It provides portability of the pension account, and it does not change when the employer or the pension fund manager changes.

  1. AA unique number that stays with the subscriber across jobs and locationsCorrect
  2. BA number issued separately for each employer the subscriber works with
  3. CA number valid only for the Tier II account
  4. DA number that changes whenever the subscriber changes the pension fund manager

Explanation

The PRAN is a unique, permanent 12-digit number allotted to each NPS subscriber. It remains the same across employers, cities and changes of pension fund manager, giving portability. The other options wrongly suggest it is employer-specific, Tier II only, or changes with fund manager.

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