- Subscriber should be between 18 – 70 years of age as on the date of submission of her application.
- Subscriber should comply with the prescribed Know Your Customer (KYC) norms as detailed in the Subscriber Registration Form for NPS
* The above link is not available for Non-Resident Indians right now.
Tier I Account
- Tier-I account is mandatory for opening NPS account.
- This is a restricted account and withdrawals are subject to meeting certain terms and conditions prescribed under NPS.
- Tax Benefits are associated with this account.
Tier II Account
- This is a voluntary savings facility available as an add-on to any Tier-1 account holder.
- Subscribers are free to withdraw their savings from this account.
- There are no tax benefits associated with the Tier-II account.
|For All Citizen Model||Tier-I||Tier-II|
|Minimum Contribution at the time of account opening||Rs. 500||Rs. 1000|
|Minimum amount per contribution||Rs. 500||Rs.250|
|Minimum total contribution in the Year||Rs. 1000||-|
|Minimum frequency of contributions||1 per year||-|
- Active Choice - A subscriber can actively decide as to how the funds are to be invested across asset classes and their percentages. Asset class Equity (E), Corporate Bonds (C) & Govt. Securities (G).
- Auto Choice - Subscriber has the choice of three life-cycle funds i.e. Aggressive Life cycle fund, (LC-75), Moderate Life cycle Fund (LC-50) and Conservative Life cycle Fund(LC-25). Investment is made from a life-cycle approach. Allocation is progressively decreased in Equity & increased in Bonds & Govt Securities.
The funds contributed by subscribers are managed by PFRDA registered Pension Funds. At present, a subscriber has the option to select any one of the following seven pension funds:
- HDFC Pension Management Company Ltd
- ICICI Prudential Pension Fund
- LIC Pension Fund Ltd
- Kotak Mahindra Pension Fund
- SBI Pension Fund
- UTI Retirement Solutions Pension Fund
- Aditya Birla Sunlife Pension Management Limited
|Intermediary||Charge Head||Service Charge**||Frequency of deduction||Mode of deduction|
|POP (Service Provider)||Customer Registration||Rs. 400||One time||Deducted upfront from the contribution amount|
|Contribution Processing*||0.50%||On each transaction|
|Non – Financial Transaction Processing||Rs. 30|
|CRA (KARVY)||PRAN Opening Charges||Rs. 39.36||One time||From NPS Account (by cancelling the units) on the last day of the calendar quarter|
|Annual PRAN Maintenance cost per account||Rs. 57.63||Per Annum|
|Transaction Processing( Financial & Non-Financial)||Rs. 3.96||On each transaction|
|NPS Account Maintenance||Rs. 95||Per annum|
|Transaction Processing( Financial & Non-Financial)||Rs. 3.75||On each transaction|
|Fund Manager||Investment Management||0.01%||annum||Through adjustment in NAV|
** For more details visit www.npstrust.org.in/content/charges-under-nps. GST as applicable.
Your Pension Account Summary at Retirement
Your Total Corpus at Retirement
Your Total Contribution
Withdrawal Amount at Retirement
Your Expected Monthly Pension
Disclaimer: The above calculation and illustration of figures are indicative only and not on actual basis.