What is NPS and its benefits?
National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable the subscribers to make optimum decisions regarding their future through systematic savings during their working life. NPS seeks to inculcate the habit of saving for retirement amongst the citizens.
Is NPS a good investment?
As you can see, NPS makes for a great retirement savings scheme. It may not be the best scheme to invest in if your aim is to save for other purposes like children's education, daughter's marriage etc. For all of these needs, a PPF scores over NPS as the best investment scheme.
➤ Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) by All Indian Citizens (including NRIs) between 18 - 70 years
➤ Making initial and subsequent contribution to your Tier I as well as Tier II account
For Account opening, you need to:
✔ Have Mobile number, email ID and an active Bank account with net Banking facility enabled
✔ In case, an applicant selects to open the individual pension account with PAN, the activation of
the PRAN is subject to KYC verification by the empanelled POP (name and address should
match with POP record) selected by applicant during the registration process.
✔ Fill up all the mandatory details online
✔ Click Here for guidelines on filling details if Applicant residence for tax purposes in jurisdiction (s)
outside India
✔ Scan and upload your photograph (optional for Aadhaar) and signature
✔ Make online payment (Minimum amount of ₹ 500)
✔ Subscriber will have an option to authenticate form through OTP Authentication or eSign process