National Pension Scheme is a retirement savings scheme launched by Govt of India. It’s a cost efficient, portable and flexible investment scheme.NPS now can be purchased online, which makes it easily accessable. Invest in NPS scheme and get additional tax benefit of ₹ 50,000 under section 80CCD (1B) over and above the ceiling limit of ₹ 1, 50,000 under section 80 C.Open An Account
Invest in NPS scheme and get additional tax benefit of ₹ 50,000 under section 80CCD(1B) over and above the ceiling limit of ₹ 1,50,000 under section 80 C
Investors, both residents and NRIs, between the age of 18 years and 65 years.
BENEFITS OF NPS
Save tax upto Rs. 50000 over and above section 80 C limit.
Investors can check value of investment anytime.
Investment starts with minimum Rs. 500 and Rs. 1000 for Tier 1 and Tier 2 respectively.
Investors choose from various asset classes like equity, corporate debt, government bonds,and also can switch from one option to another.
Every investor is identified with a unique and Permanent Retirement Account Number (PRAN), which can be transferred from one office to another.
Withdrawal on Maturity
On completion of 60 years of age, investor receives a lump sum payment, while 40% of the accumulated corpus is mandatorily used to purchase annuity for further monthly pension payments..
After completion of 10 years in the scheme, investor can withdraw upto 25% of the contribution for certain reasons.
TIER 1 & TIER 2 ACCOUNT
Is a Pension Account which is a non-withdrawal account. This account requires minimum contribution of Rs. 500 per financial year.
Is an Investment Account, which provides liquidity and option to withdraw entire investment. A minimum contribution of Rs. 1000 is required while opening the account and Rs. 250 per month. However, only investors with active Tier I account can subscribe for Tier 2 account.
Dual Advantage of NPS
Reduces Tax Liability over and above the standard available limits
Higher returns when invested in NPS due to lower tax liability
PRAN Allotment using Aadhaar authenticationApply Now