National Pension Scheme (NPS)

It is a pension scheme launched by the Government of India. It is regulated by Pension Fund Regulatory & Development Authority (PFRDA)
  • Eligibility :
    • Should be an Indian Citizen (resident or non-resident) or an Overseas Citizen of India (OCI)
    • Should be aged between 18 - 70 years
  • Minimum Investment Amount :
    • Account Opening: ₹500
    • Annual Contribution: ₹1,000

Features of NPS

  • Permanent Retirement Account Number (PRAN): unique 12 digit number allotted to each subscriber
  • Two sub accounts are opened:
    • Tier I a/c: Non-withdrawable retirement a/c which is mandatory.
    • Tier II a/c: Voluntary savings facility available as an add-on.
  • NPS a/c can be operated from anywhere in the country irrespective of individual employment & location / geography.

Investment of Funds

Pension Fund Manager (PFM) to be selected by the client:
  • Aditya Birla Sun Life Pension Management Ltd.
  • HDFC Pension Management Co. Ltd.
  • ICICI Pru. Pension Fund Mgmt Co. Ltd.
  • Kotak Mahindra Pension Fund Ltd.
  • LIC Pension Fund Ltd.
  • SBI Pension Funds Pvt. Ltd.
  • UTI Retirement Solutions Ltd.
  • Tata Pension Management Ltd.
  • Axis Pension Fund Management Ltd.
  • MAX Life Pension Fund Management Ltd.

To Know More About NPS, Contact Our Relationship Manager