The Pension Fund Regulatory and Development Authority (PFRDA) along with SEBI has now enabled a consolidated view of the personal investments in the securities market with updated mark-to-market values for National Pension System (NPS) subscribers. It includes the investors’ Demat account holdings as well as their mutual fund holdings.
According to the PFRDA circular dated August 10, 2023, “PFRDA has integrated the NPS Statement of Transaction (SoT) with CAS. Currently, the NPS SoT is shared on an annual basis either physically or through email, and it can also be viewed online in the CRA login. Now, PFRDA has enabled CRAs to integrate with depositories, registered with SEBI to provide NPS Subscribers with the option to include NPS transactions in CAS. Till date, nearly 50000 Subscribers have evinced interest and provided their consent to avail the facility.”
The following are some key aspects and benefits of including NPS SoT in CAS, according to the PFRDA circular:
Consent basis
NPS customers will have the option to opt-in to having their NPS SoT included in their CAS. On each of the aforementioned CRAs’ websites, the consent can be given if the Subscriber chooses to opt for this inclusion.
Nominal charges
Physical statement requests will incur a price of Re 1/, whereas email statement requests will incur a fee of 10 paise.Benefits of Consolidated Account Statement (CAS), according to the circular.
a) Simplified Record-Keeping
CAS removes the need to keep separate statements for various investments by consolidating the information into a single thorough statement. This lessens paperwork and consolidates all investment views into one location, making it simpler to handle and track the same.
b) Enhanced Safety
The Subscribers can be vigilant and quickly spot any unauthorised transactions by receiving monthly updates. The linked intermediary can be notified by the Subscribers as soon as any essential action is taken in the event of fraudulent actions.
c) Timely Information
Subscribers receive regular updates from CAS regarding their investments.
They may simply track the performance of assets, remain up to date on any changes, and make wise decisions as a result with a monthly update of all transactions and holdings.
How Protean CRA customers can give consent for inclusion of NPS details in CAS
Step 1. Subscribers can visit the website of Protean CRA.
Step 2: Under News section, click on the link to provide to provide consent for availing NPS details in CAS.
Step 3: Enter the 12-digit PRAN, PAN and Date of Birth.
Step 4: Submit the declaration.
Step 5: Enter the password received on registered Mobile and Email ID.
Step 6: On successful consent submission, NPS investments will be reflected in CAS.
How KFin CRA customers can give consent for inclusion of NPS details in CAS
Step 1: Subscriber will login to the NPS account on KFin CRA website.
Step 2: Subscriber will select Statement Menu on left side and will click on CAS statement.
Step 3: Subscriber need to give consent for CAS Yes/No and charges will be shown to subscriber. Once selected the option, subscriber need to click on submit button to captured the CAS request.
Step 4: Subscriber if selected as Yes, message will be shown for dispatch mode. Subscriber need to selected mode type- physical or Email.
Step 5: Subscriber has the option to opt out of CAS also.
How CAMS CRA customers can give consent for inclusion of NPS details in CAS
Step 1: Subscriber logs in to his / her CAMS NPS Account, and navigates to the “statements tab”
Step 2: Select ‘CAS’ option
Step 3: Subscriber provides the consent for sharing their NPS details with the depository and “submit”.
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