National Pension Scheme Account
Learn to open your NPS account. The National Pension Scheme is a systematic retirement saving scheme. It is a governmental program to ensure financial stability to the senior citizens after the retirement. The NPS scheme is solely administered by the Pension Funds Regulatory and Development Authority. The NPS account is very affordable and also exempted from tax. The employer also contributes to the account. The account holders under the national pension scheme have the flexibility of deciding the contribution. If the amount of contribution is more, the long-term benefit is greater. Subscription to this scheme is available for any Indian citizen aged between 18 to 60 years.
If you are planning to subscribe to the national pension scheme, this post contains valuable information for you. Know the eligibility, benefits and other conditions of this program. The NPS account can be opened using your aadhar or PAN card number. The account can be managed from anywhere in India. The structure of the account is either one tier or two tier. We have discussed the structure in details and also know how to aadhar card link with EPFO. Also, know what is PRAN and PRAN status.
NPS Scheme: PPS Tier I & Tier II
After you subscribe for national pension scheme you receive a PRAN card. It contains the PRAN number and other details of your account. The Tier I account is non-withdrawable and is meant only for retirement savings. It has a benefit of tax exemption.
Tier II account is known ad PPS which is abbreviated for prospective payment system. This type of NPS account is a voluntary saving scheme. You can withdraw savings from this account at any time. But this account attracts income tax. Members can withdraw before retirement age for medical purpose. However, the account will not close. Amounts can be withdrawn completely without closing the account.
Open NPS Account Online Using PAN or Aadhar Card
Keep your PAN card number or aadhar card number ready with you.
Registration at enps.nsdl.com
- Use this link to access the appropriate page for opening NPS account.
- Give a click on the ‘registration’ option.
- A new page will appear with the title showing ‘Online Subscriber’s Registration.’
- Choose the option for ‘new registration’.
- Select the identity proof you want to use
- Select Tier I account for retirement saving scheme. This is non-withdrawable before the age of retirement.
Open National Pension Scheme Account with Aadhar Card
- After registration, type your aadhar number and generate one time password.
- Enter all details including OTP received on your mobile.
- Your personal details will be fetched from your aadhar based information.
- Provide details of your bank account and nominee.
- Upload your photograph and signature. It can also be fetched from your aadhar information if you do not upload.
- Submit the details to reach the payment gateway.
- Make payment of your first contribution using debit or credit card or net banking facility.
Open NPS Account using PAN Card
- First of all, you should hold an account with any of the NPS associated banks.
- Here is the list of the NPS empanelled banks:
- Bank of India
- Vijaya Bank
- Dena Bank
- Karur Vysya Bank
- Bank of Maharashtra
- Corporation Bank
- Select your bank. This will verify your KYC details through your bank account.
- Upload your photograph and signature.
- Make online payment of your first contribution.
The PRAN will be generated after the successful payment. Within few days, you will receive a PRAN kit. Make sure that it contains PRAN card, IPIN or TIPIN, and a booklet.
Now send a complete set to the eNPS office:
- Print out of the form and sign it
- Paste your photo on the form
- No need to sign across the photograph.
Send the complete set to following address within three months.
Central Recordkeeping Agency (eNPS)
NSDL e-Governance Infrastructure Limited
1st Fl, Times tower, Kamala mills compound,
Senapati Bapat Marg, Lower Parel, Mumbai – 13.
Tel: 4090 4242
Email address: [email protected]
The minimum amount for the yearly contribution for tier I account is Rs. 6000/-. We are sure you can now easily open your NPS account online.
The national pension scheme provides financial security to the senior citizens in our country. if facilitates a source of regular income every month. In the case of any difficulty in opening NPS account, do leave your queries. You may also call national pension scheme helpline number on 1800110708. It is a toll-free number to help existing and willing subscribers with their queries and confusions.