A ‘one-way switch’ is a facility provided by the government allowing an NPS subscriber to transfer funds from his/her Tier-II NPS account to Tier-I NPS account.

Under the one-way switch, the subscriber has the option to transfer funds from his/her Tier-II NPS account to Tier-I NPS account. Please note, the vice-versa is not allowed i.e., one cannot transfer funds from Tier-I to Tier-II account is not allowed.

To avail this facility, the subscriber must submit a written request at its parent Points of Presence- Service Providers (POP-SP). The POP/POP-SP will execute the ‘one-way switch request’ in the Central Recordkeeping Agency system for the subscribers associated with them.

Features of the one-way switch are:

- NPS subscribers from unorganised sector and corporate sector with active Tier-I and Tier-II accounts can opt for the facility of one-way switch to transfer funds from Tier-II to Tier-I account.

- Transfer of funds from Tier-II to Tier-I account without any minimum or maximum limit in amount.

- There is no maximum limit on the number of one-way switches that can be requested by a subscriber depending on the availability of holding in the PRAN.

- The amount switched is considered as contribution to Tier-I account and hence, will be considered for fulfilment of criterion of minimum contribution amount in Tier-I.