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Government Business

Last Updated on: 20/11/2024

NPS-National-Pension-System

Eligibility

All citizen aged between 18-70 can open the account.

However, till age of 75, we can stay invested in NPS.

Features of the Scheme

Individual can open Tier I and Tier II account under NPS.

Tier I account is mandatory and Tier II is optional.

Withdrawal Facility

Partial withdrawal permitted after 3 years in NPS.

Subscriber is free to withdraw their savings from Tier II account alone, without any restriction.

On superannuation, maximum 60% withdrawal permitted. 40% to be contributed for annuity.

If the amount of investment is less than Rs.5 lacs, full amount can be withdrawn.

Tax Benefits

Tax benefit up to Rs.150000/- u/s 80C and additional Tax benefit up to Rs. 50,000/- u/s 80CCD(1B) for Tier 1 investments.

Other Features

Customer has the choice to Fund allocation and returns are based on Market performance.

Choice of multiple pension fund managers and Investment Choice is also available.

PoP (Point of Presence) Registration Number: 52092018