How can a NPS subscriber change the Scheme Preference?

[C]ontribution of Government Employees in NPS is allocated to three PFMs, viz. SBI Pension Funds Private Limited, UTI Retirement Solutions Limited and LIC Pension Fund Limited in a predefined proportion and each of the PFMs will invest the funds in the proportion of 85% in fixed income instruments and 15% in equity and equity related instruments. 

How to Change the Scheme Preference?

Scheme Preference change option is not available to Govt. subscribers for Tier I

For Tier II, the subscriber has to submit the physical application form (Form-UOS-S3) to change Scheme Preference.  However, such changes can be done only once in a financial year.

You can submit the request to your POP-SP (PAO for central Government employees) through whom your Tier II account is activated. Please collect a 17 digit acknowledgement number against your request. The transaction is chargeable.

How will I know my request for change in the scheme preference is taken?

Subscriber can either check using the Pin provided in the website of Central Record Keeping Agency for NPS or can call at CRA's toll free number 1800 222 080 for the status of pending request. Please mention the 17 digit acknowledgment number received.

CRA system will send an e-mail to the Subscriber once the request is processed.

How many times a subscriber has an option to change his / her scheme preference?

At present, this facility is not available for Tier I account of Central/state Govt. employee. In future, subscriber will have the option of selection of PFM and Investment schemes (as and when PFRDA approves it). For Tier II account, you can request for a change of scheme preference once in a financial year.