NPS is Indian government sponsored pension scheme targeted to be the investment for retirement.
Additional tax can be saved on ₹50000 in addition to 150000 offered under Income tax 80C
What is NPS
National Pension system (NPS) is regulated by Pension fund regulatory and Development authority( PFRDA) This system allows investors to invest in mix of Equity, Debt and government bonds based on risk appetite.
TIER 1 NPS
This is the primary NPS account. Account opening fees are ₹500 while minimum annual contribution being ₹1000
TIER 2 NPS
Subscribers having TIER 1 account can open this account.There is no lock in period, invested amount can be withdrawn at any time. Minimum contribution is ₹1000
eNPS account can be opened online in easy steps
1. Goto eNPS portal https://enps.nsdl.com/eNPS/NationalPensionSystem.html
2. Select National Pension System
3. Click on registration
4. Choose the application document type, application type, status , fill required details
, generate OTP
5 After OTP validation, enter basic details like contact details, nominee details, payment details etc
6. Upload your KYC , photograph and signature and pay fees of ₹500
7.After successful payment , PRAN number will be allocated verify with OTP or eSignal to complete registration.
How to contribute?
Contribution in NPS can be done via eNPS portal
https://enps.nsdl.com/eNPS/NationalPensionSystem.html
NPS account can also be opened by visiting POP-SP (Point of presence service procider) like Post office, Banks etc.
Find details about current POP SPs here
