Banking & Financial Services
National Pension System — Secure Your Retirement
The National Pension System (NPS) is a government-backed voluntary pension scheme regulated by PFRDA. Contributions are invested in equity, corporate bonds, and government securities. At retirement (60 years), withdraw 60% as lump sum (tax-free) and use 40% to buy annuity.
Tier-I (pension account, mandatory for govt employees) or Tier-II (voluntary savings, flexible withdrawal).
Visit enps.nsdl.com or pfrda.org.in. Register using Aadhaar/PAN.
Submit Aadhaar-based e-KYC or physical KYC at Point of Presence (PoP) bank.
Minimum ₹500/contribution for Tier-I. Choose fund manager and asset allocation.
Permanent Retirement Account Number (PRAN) issued — use for all future transactions.
Deduction up to ₹1.5L under 80C + additional ₹50,000 under 80CCD(1B). Total ₹2 lakh deduction possible.
Partial withdrawal (up to 25% of own contribution) allowed after 3 years for specific reasons: medical, education, housing.
At 60, use at least 40% of corpus to buy annuity from empanelled insurance companies for regular monthly pension.
Account opening: ₹400. Annual maintenance: ₹190. Fund management: 0.01% per annum.
1800-110-069 (toll-free)