New Pension Scheme PDF

PDF Name	New Pension Scheme
No. of Pages	14
PDF Size	2.80 MB
Language	English
PDF Category	Government
Source / Credits	npscra.nsdl.co.in
Uploaded By	Pradeep

New Pension Scheme - Summary

The New Pension Scheme (NPS) is a government initiative aimed at ensuring a safe and secure retirement plan for new government employees. Introduced in 2003 by the Government of India (GOI), this scheme is specifically designed for all individuals joining Central Government services, excluding the Armed Forces, from 1st January 2004 onwards. Numerous states across India have embraced the NPS, which is also applicable to Central Autonomous Bodies (CABs) as well as State Autonomous Bodies and Grant Institutions that have adopted this pension system.

Benefits of the New Pension Scheme

The NPS offers significant benefits, including an annual government contribution of ₹1,000 to each eligible NPS account opened between 2010-11 and 2013-14. To receive this benefit, participants must start their NPS journey with a minimum annual contribution of ₹1,000, up to a maximum of ₹12,000. Please keep in mind that specific conditions apply to avail of these benefits.

Investment Options in NPS

One of the best features of the NPS is the flexibility it provides in investment management. You get to choose how your funds are managed from six available fund managers and three distinct investment options. If you do not wish to decide on asset allocation, the “Auto Choice” feature can manage your investments for you without hassle.

When you join the NPS, you will be assigned a unique Permanent Retirement Account Number (PRAN), which remains with you for life and allows you to access your account from anywhere in India easily.

With your PRAN, you have access to two types of personal accounts:
- Tier-I pension account: This is a non-withdrawable account where you will safely save your retirement funds.
- Tier-II savings account: This is a voluntary savings account that lets you withdraw your savings whenever you wish.

For detailed information about the New Pension Scheme, don’t forget to download the New Pension Scheme PDF. This is your opportunity to secure your future and understand how to start or get the most out of your benefits under the NPS!

Take a step towards a better future. Learn more about the NPS by downloading the PDF now!

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