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NPS

A pension scheme launched by the Government of India and regulated by the 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:
    • 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

Select from the following Pension Fund Managers (PFMs):

  • 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.