National Pension Scheme (NPS) is an investment and pension scheme by the Indian Government to give old age security and pension to the ageing population of India. Pension Fund Regulatory and Development Authority (PFRDA) regulates this scheme. [Get Personalised Advice For National Pension Scheme(NPS) –Visit]
1. Both resident Indians and NRIs can join NPS if he/she is between 18 and 65 years of age at the time of registration.
2. The individual has to comply with KYC (Know Your Customer) norms.
This scheme is similar to the 401(K) plan of the United States of America.
The Fund Options in NPS are:-
- Equity Fund (E)
- Government Securities Fund (G)
- Fixed Income Instruments other than Govt. Securities (C)
Apart from this, you also have subscription options, Active choice and Auto choice.
You can choose the allocation pattern among the three funds.
Your funds will be allocated amongst three funds on its own in a pre-defined portfolio pattern prescribed by PFRDA (Pension Fund Regulatory and Development Authority)
Amidst the Fund Options:-
1. Asset Class E
The riskiest asset class among the three fund options is this. This invests in equity market instruments.
2. Asset Class G
This is the most secure among the three fund options. An example of this fund is Central Government Bond. This invests in fixed income instruments.
3. Asset Class C
This fund option is neither risky nor safe and is issued by private firms and companies. This also invests in fixed income instruments.
Here is the List Of Eight Fund Managers Presently:
1. Birla Sun Life Pension Scheme
2. HDFC Pension Fund
3. ICICI Prudential Pension Fund
4. Kotak Pension Fund
5. LIC Pension Fund
6. Reliance Capital Pension Fund
7. SBI Pension Fund
8. UTI Retirement Solutions
1. Fill the subscriber registration form
2. Submit it with proof of identity, address and Date Of Birth to Point Of Presence
For Withdrawal, You Have to Submit The Following Documents With The Withdrawal Forms:
1. PAN card (original)
2. Attested copy of proof of identity
3. Attested copy of proof of address
4. A cancelled cheque
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