National Pension System:
National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme. The NPS has been designed to enable systematic savings during the subscriber’s working life.. It is an attempt towards finding a sustainable solution to provide adequate retirement income to every citizen of India.
The National Pension System (NPS) was Launched on 1st January, 2004 with the objective of providing retirement income to all the citizens. NPS aims to institute pension reforms inculcate the habit of savings for retirement amongst the citizens.
With effect from 1st May 2009, NPS has been provided for all citizens of the country including the unorganised sector workers on voluntary basis.
NPS offers following Important Features to help subscriber save for retirement :
The Subscriber will be allotted a unique Permanent Retirement Account Number (PRAN). This unique account number will remain the same for the rest of subscriber’s life. This unique PRAN can be used from any location in INDIA.
WHO CAN JOIN NPS?
Individual : All citizens of India between the Age of 18 to 60 years can Join NPS.
PRAN will Provide access to Personal Account:
Tier -I Account : This is a non-withdrawable account meant for savings for retirement.
Tier -I Account requires a minimum investment of Rs. 1000 annually and Rs. 500 per transaction. There should be atleast one transaction per annum and minimum deposit of Rs. 1000 per annum is mandatory.
Commission for vle :-
VLE’s earn instant Rs. 100+ commission on each new NPS account which is opened by them and in case of contribution to existing pension account instant commission Rs. 16.
NPS Calculator http://www.npstrust.org.in/PENSIONCALC/Pension_Calculator.html
National pension System Service is available in https://www.digitalseva.csc.gov.in/ portal under financial tab.
You can go through the site https://npscra.nsdl.co.in/all-citizens-faq.php and read all the FAQs regarding NPS.
For any query related to NPS you can write to us at pension@csc.gov.in or call at our toll free no. 180030003468
