How to Start NPS? Everything You Need to know about National Pension System | Personal Finance

Опубликовано: 19 Октябрь 2024
на канале: Sriramasubramaniam Nagarajan

Everything You need to know about National Pension System | Personal Finance

REGULATOR AND ENTITIES FOR NPS

Pension Fund Regulatory and Development Authority (PFRDA) - 10th October 2003
Regulate Pension Market in India set by Indian Government

Point of Presence (POP)
Handles NPS for us/ first point of contact
private/public banks/post office/private financial institutions [58 institutions]

Central Recordkeeping Agency (CRA)
Recordkeeping, administration, customer service for all subscribers handled by NSDL [National Securities Depository Limited, Kfintech, CAMS]

Annuity Service Providers (ASPs)
Would be responsible for monthly Pension to subscriber after exit from NPS
NPS Trust
Trustee Bank
Pension Fund Managers

NPS - Jan 2004 - Only for Government Employees [Except Armed Recruits]
All Citizens - May 2009 - Voluntary Basis

Permanent Retirement Account Number (PRAN)
Tier-1 Account [Non-withdrawable/Tax Benefits]
Tier-2 Account

Who can Join NPS
Central Government Employees
State Government Employees
Corporate
Individual

Benefits of NPS
Simple, Portable, Regulated
Using PRAN we can check anywhere/anytime
Exempt-Exempt-Taxed [after 60 withdrawal is taxed]
Min - 500/M, 1000/Y, Max- No Limit

We can decide how to invest
Equity, Corporate, Government

Reference Links

https://www.pfrda.org.in/writereaddat...

https://www.india.gov.in/spotlight/na...

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