NPS National Pension Scheme 2018 – The Government of India has decided to launch the voluntary national Pension System (NPS) for all indian citizens from 1st may 2009. Pension Fund Regulatory and Development Authority (PFRDA) is recognized as the nodal authority for managing NPS operations. Pfrda appointed as one of the attendance point (pop) to the Department of posts. The postal department is providing services through the POP service provider (pop sp). All major post offices in India are identified as pop SPs.
Govt Service Offered in NPS national Pension Scheme
- Opening new NPS (All citizen models) accounts.
- Subsequent contributions.
- All types of service requests.
- Exit/ Claim refund request.
National Pension Scheme Type of accounts:
- Tier I and Tier II.
- Tier I pension account and compulsory.
- Tier II savings account and optional. 01.01.2004 or after-appointed government employees can only open a tyre II account as the Tier are maintained by their DDOs.
NPS Eligibility : All indian citizens who do not fall under any NPS area and age under the age of 65 before 18 years old.
Income Tax Benefit NPS indian govt gives extra benefits to all indian citizen models to invest in 50,000/- -Up has additional tax advantages.
National Pension Scheme Finance Details :
|Minimum Initial Contribution wi th Registration||Rs. 500 (excluding taxes).|
|Minimum Subsequent Contribution||Rs. 500 (excluding taxes).|
|Maximum Contributions||No limit.|
|Minimum Contributions in a Financial Year||Rs.1,000 in Tier I.|
|Minimum transactions in a Financial Year||One.|
Transactional Charges :
|Registration Charges||Rs. 200 (excluding taxes).|
|0.25 % of the Contribution amount subject to minimum of Rs.20 (excluding taxes) and maximum of Rs.25,000 (excluding taxes).|
|All Service Charges||Rs.20 (excluding taxes).|
|Payment mode||Cash, Cheque, DD subject to realization.|