National Pension System (NPS)
learn more about the new pension scheme of pfrda
Learn more about the national pension system backed by the Government of India.
National Pension System (NPS)
The Central Government has made the National Pension System (NPS) to be available to all citizens of India from May 01, 2009. National Pension System (NPS), regulated by Pension Fund Regulatory and Development Authority (PFRDA), is an important milestone in the development of a sustainable and efficient voluntary defined contribution pension system in India. It has the following broad objectives:
- Provide old age income.
- Reasonable market based returns over the long term.
- Extending old age security coverage to all citizens.
Welcome to the National Pension System
NPS offers following important features to help you save for retirement:
- You will be allotted a unique Permanent Retirement Account Number (PRAN). This being unique in nature, you will not be required to change the same or obtain the new one even if you shift your residence. Therefore, you will be able to use this account and this unique PRAN from any location in India.
- PRAN will provide access to two personal accounts:
- Tier - I pension account: You will contribute your savings for retirement into this non withdrawal account.
- Tier - II savings account: This is an add-on account, which is simply a voluntary savings facility. You are free to withdraw your savings from this account whenever you wish.
NPS Information Helpdesk: 1800 110 708
Now get connected with NPS customer care support executives with a call to the information help desk number referred above.
Tax Benefit
Tax benefits would be available as per the Income Tax Act 1961 as amended from time to time.
Minimum Contribution & Charges
| Particulars | Tier 1 | Tier 2 # |
|---|---|---|
| ||
| Entry Age (years) | 18 ~ 60 | 18 ~ 60 |
| Minimum contribution to open A/c | Rs. 500/- | Rs. 1,000/- |
| Minimum contribution in financial year | Rs. 6,000/- | Rs. 250/- |
| Minimum A/c balance in a financial year | N.A. | Units worth Rs. 2,000/- |
| AMC NSDL (p.a.) | Rs. 225/- | Nil |
| Fund Management Fee (p.a.) ### | 0.25% Maximum | 0.25% Maximum |
| Charge per contribution | 0.25% of contribution or Rs. 20/- minimum ##. | 0.25% of contribution or Rs. 20/- minimum ##. |
Getting Started
You can enroll in the NPS at any time if you are a citizen of India and at least 18 years of age; no entry is, however, allowed after 60 years of age. You should take advantage of compounding of your wealth by starting right away. The earlier you start, the greater will be opportunity for the growth of your pension wealth.
To enroll in the NPS, submit the Registration Form in any of our branch.
NPS Information Brochure
- NPS Information Brochure in English (Format: Adobe "PDF" Document)
- NPS Information Brochure in Tamil (Format: Adobe "PDF" Document)
Forms
- NPS Common Account Opening Form-CSRF-1 (Format: Adobe "PDF" Document)
- NPS Account Opening Form for Non-Residential Indians (Format: Adobe "PDF" Document)
- NPS-UOS-S2-Subscriber-details-change-Form (Format: Adobe "PDF" Document)
- NPS-UOS-S3-Scheme-Preference-Change-Form (Format: Adobe "PDF" Document)
- NPS-UOS-S7-Change-in-signature-or-photograph-Form (Format: Adobe "PDF" Document)
- NPS-NCIS-Contribution-Remittance-Slip (Format: Adobe "PDF" Document)
- NPS- UOS-S10A-Application-for-unfreezing-of-PRAN (Format: Adobe "PDF" Document)
- NPS-UOS-S12-Withdrawal-form-TierII (Format: Adobe "PDF" Document)
- NPS-ISS-1-InterSector-Shifting-Form (Format: Adobe "PDF" Document)
- NPS-UOS-S5-Branch-Change-Form (Format: Adobe "PDF" Document)
- NPS-UOS-S06-Bank-Change-Form (Format: Adobe "PDF" Document)
- One Way Switch from Tier II to Tier I - UOS S13 (Format: Adobe "PDF" Document)
- NPS-Exit-Form (Format: Adobe "PDF" Document)
NPS Subscribers Grievances Redressal Policy
Click Here to learn more about our NPS Subscribers Grievances Redressal Policy.
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