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Disclaimer: By clicking the following link you are being directed to a third-party website owned by CRA Karvy Computershare Pvt. Ltd. All liabilities acts and omissions arising therefrom, would be at your and Karvy's risk and responsibility. The Bank will not be liable for any act or omission arising therefrom.




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Disclaimer: By clicking the following link you are being directed to a third-party website owned by CRA Karvy Computershare Pvt. Ltd. All liabilities acts and omissions arising therefrom, would be at your and Karvy's risk and responsibility. The Bank will not be liable for any act or omission arising therefrom.




Overview

National Pension System (NPS) is a defined contribution based pension scheme wherein the subscriber contributes to his/her account regularly. Any Citizen of India with age between 18 to 65 years can join NPS. Under NPS, individual savings are pooled in to a pension fund which are invested by PFRDA regulated professional fund managers as per the approved investment guidelines in to the diversified portfolios comprising of Government Bonds, Bills, Corporate Debentures and Shares.

On joining NPS, the subscriber is allotted a unique Permanent Retirement Account Number (PRAN). The subscriber contributes towards NPS and these contributions would grow and accumulate over the years, depending on the returns earned on the investment made.

CONTRIBUTION + INVESTMENT GROWTH - CHARGES = ACCUMULATED PENSION WEALTH

How to open NPS account?

Subscriber who wish to join National Pension System (NPS) can join through the online route. Below are the steps to join the

  • Enter PAN Details
  • Keep Scan copy of Cheque ( IndusInd Bank only), Photograph & Signature ready for upload
  • Enter Personal Details
  • On entering personal details an acknowledgement number will be generated.
  • Enter contact details. Please enter address as provided at the time of opening IndusInd Bank account.
  • Enter IndusInd Bank Account details
  • Select scheme details & the allocation thereof.
  • Enter nomination details.
  • Upload Photo, Signature and Cheque Copy
  • Provide FATCA declaration
  • Subscriber will be redirected to IndusNet to payments section to make contribution to NPS.
  • Complete E-Sign. E-Sign eliminates the need to send the printed form to CRA (KARVY FINTECH).
  •  Fields marked in * are mandatory to enter.

For any queries/ grievance please write to us at customercare@indusind.com

Features

Benefits of NPS:-

  • Choice of fund option - NPS offers a range of investment options and choice of PFM.
  • Fund Switching: subscriber can switch from Active to Auto Choice or vice versa or can switch funds like E, C, G and A under Active Choice as well
  • Tax Benefits & Pension Planning:- Various Tax Benefits available u/s 80 CCD 2 upto Rs 1,50,000/- + upto Rs 50,000/- u/s 80 CCD 1 (B) as well as plan for retirement income.
  • Ease of access:- The NPS account can be managed online. Once NPS account is opened, online access credentials is provided by CRA (KARVY). Subscriber can login and view/manage his NPS account online.
  •  Regulated - NPS is regulated by Pension Fund Regulatory and Development Authority (PFRDA).
  • Flexible Contribution mechanism: subscribers can increase / decrease contribution amount along with change in frequency as per his / her choice ( Under Sec 80 CCD 1(B))

Types of Accounts

There are 2 types of NPS accounts

  • Tier 1 Account ( mandatory)
    • Withdrawal is not allowed ( before age 60)
    • Tax benefits pertain to this account
  • Tier 2 Account ( voluntary)
    • Subscriber is free to withdraw anytime
    • Tax benefits are not there in Tier-2 account

Minimum Contribution Requirements

   Tier- I Tier-II
Minimum Contribution at time of account opening Rs 500/- Rs 1,000/-
Subsequent Contribution Rs 500/- Rs 250/-
Minimum Annual Contribution to keep account Active Rs 1,000/- Nil

Investment Approaches

Active Choice
Subscriber can actively decide as to how your money is to be invested across Equity (E), Corporate Bonds ( C ) & Govt . Securities (G).  Equity exposure is capped at 50%

Auto Choice
Investment is made from a life-cycle approach. Allocation is progressively decreased in Equity & increased in Bonds & Govt Securities

How are the funds managed under NPS?

The funds contributed by subscribers are managed by PFRDA registered Pension Funds.
At present, Subscriber has option to select any one of the following seven Pension Fund Managers:

  • 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
  • Birla Sunlife Pension Management Ltd.

Fees & Disclaimer

Charges under NPS for Intermediaries

Intermediary Charge Head Service Charge** Frequency of deduction Mode of deduction
POP (Service Provider) Customer Registration Rs.200 One time Deducted upfront  from the contribution amount
Contribution Processing* 0.25% On each transaction
Non – Financial Transaction Processing Rs.20
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. 3.36 On each transaction
CRA (NSDL) PRAN Opening Charges Rs. 40. One time From NPS Account (by cancelling the units) on the last day of the calendar quarter
NPS Account  Maintenance Rs. 95 Per annum
Transaction Processing( Financial & Non-Financial) Rs. 3.75 On each transaction
Fund Manager Investment Management 0.01% Per annum Through adjustment in NAV
Custodian Asset Servicing 0.0032%% Per Annum

*Minimum Rs.20 and Maximum Rs.25,000 per contribution

** For more details visit www.npstrust.org.in/content/charges-under-nps. GST as applicable.

Disclaimer

NPS is launched & regulated by PFRDA - A GOI regulatory body . NPS is not a product/offering/recommendation / advise / solicitation by IndusInd Bank. IndusInd Bank acts only as a Point of Presence registered with PFRDA to facilitate processing of NPS related services. NPS corpus may be invested in market related instruments as per guidelines of PFRDA . These instruments may carry market related and other risks and IndusInd Bank shall not be responsible for any losses/changes in fund value or NAV of the amount invested. IndusInd Bank doesn’t guarantee any returns. IndusInd bank makes available NPS related services and doesn’t recommend choice of any scheme, allocation or fund manager, this being solely at customer discretion. Contribution payments are subject to PoP Service charges & applicable taxes, thus actual amount invested will be net of charges & taxes. Any application made by subscriber already registered is liable to be rejected. Third party payments are not allowed in Tier II contributions. Kindly refer pfrda.org.in to understand risks, CRA charges and other factors before investing. Past Performance May or May Not Be Sustained In The Future.

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