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NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. NPS is a defined contribution based pension scheme wherein the subscriber contributes to his / her account regularly. The accumulated wealth would depend on the contributions made and the income generated from investment of such wealth.
Keeping this background in mind, Govt of India formed the Pension Fund Regulatory & Development Authority (PFRDA) for developing & regulating Pension System in India. PFRDA launched National Pension System (NPS)
NPS is a Defined Contribution based Pension Scheme launched by Govt. of India.
CONTRIBUTION + INVESTMENT GROWTH - CHARGES = ACCUMULATED PENSION WEALTH
Who can Invest Online ?
- A citizen of India between the age group of 18 years & 65 years
Steps for Online Account Opening:-
For any queries/ grievance please write to us at email@example.com
Types of NPS Accounts
There are two type of NPS accounts – Tier I & Tier II NPS accounts
Minimum Contribution Requirements
|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||-|
NPS offers 2 approaches to invest
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).
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.
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 eight pension funds:
|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)||NPS Account Opening||Rs. 39.36||One time||From NPS Account (by cancelling the units) on the last day of the calendar quarter|
|NPS Account Maintenance||Rs. 57.63||Per annum|
|Transaction Processing( Financial & Non-Financial)||Rs. 3.36||On each transaction|
|CRA (NSDL)||NPS Account Opening||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|
|NPS Trust||Trust Management Fee||0.005%||Per Annum|
*Minimum Rs.20 and Maximum Rs.25,000 per contribution
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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