How do I change the pension fund manager in NPS?

I understand that one can switch the fund manager for his NPS account. So if I have opened my NPS account in February 2016, can I change my fund manager now for fresh contribution as it is the new financial year?
- Kum Kum Sinha

Yes, under the New Pension Scheme (NPS) you have the option to change your pension fund manager once in a financial year. But, a change in fund manager basically denotes a change in fund. 

At present, you have the option to select any one of the following 7 pension funds:
ICICI Prudential Pension Fund
LIC Pension Fund
Kotak Mahindra Pension Fund
Reliance Capital Pension Fund
SBI Pension Fund
UTI Retirement Solutions Pension Fund LIC Pension Fund
HDFC Pension Management Company

You can submit your request through the eNPS website here or you can submit form no. (UOS-S3/CS-S3) physically at a Point of Presence outlet. You can get a list of these, here. The CRA system will send an email to your registered email id once the request is processed. 

Do be clear about why you are choosing one manager over another. It should be based on their long-term return record which you can get here. 

P.S.: A fund change doesn't involve any taxation or exit load. 

This article was originally published on April 27, 2017.