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national-pension-system

Make Use of the National Pension System (NPS) for a Secure Retirement Life

If you are looking for easy access, flexible and portable retirement savings account, National Pension System, also known as National Pension Scheme or NPS, is the best bid for you. NPS investment is a low-cost tax efficient (u/s 80C & 80CCD) savings instrument launched by the Central Government of India & regulated by Pension Fund Regulatory and Development Authority (PFRDA). National Pension Scheme offers a robust and transparent platform to achieve your retirement goals cost-effectively. Invest for national pension scheme online from an early age so that you can save enough to fulfill all your retirement wishes!


NPS Login

NPS Investment

Why Should You Begin Early to invest in NPS Pension Scheme?

The most common question that people ask is ‘How to invest for retirement at age 35’ or ‘How to invest for retirement at age 50’ while the right question to ask is ‘When to invest for retirement’ and the best answer is ‘Right NOW’, because the sooner you start the better you are able to plan your investments in order to retire rich.

The following example shows how an early start requires a lesser investment amount to create a corpus of Rs. 1 Crore.

If you start at Age 25

Invest Monthly  3,000

Pension Wealth at Age 60 will be

1,14,84,830

If you start at Age 30

Invest Monthly 5,000

Pension Wealth at Age 60 will be

1,13,96,627

If you start at Age 40

Invest Monthly  15,000

Pension Wealth at Age 60 will be

1,14,85,454

*Note
For a monthly investment of Rs. 4,000 in NPS pension scheme with an expected return of 10% & 6% on  annuity after retirement.

The NPS returns calculations and the figures as displayed are indicative only excludes applicable charges.

Tax laws may change, affecting the Return On Investment (ROI).

KEY BENEFITS OF NATIONAL PENSION SYSTEM

PORTABLE ACCOUNT

One can open NPS account online and the NPS investment account (PRAN) remains the same irrespective of change of employment or geography.

ONLINE PLATFORM

On joining National Pension System, each subscriber is provided with a Login ID and Password by the POP / CRA for accessing National Pension Scheme online details

AVAILABILITY OF CHOICE

When you open NPS account online you can choose your Service Providers, Funds, Investment Options, Pension Fund Managers, Annuity Service Provides and Annuity Plans as a NPS subscriber.

FLEXIBLE CONTRIBUTION MECHANISM

NPS investment amount and frequency of contribution can be changed as per the Subscriber requirement

FREEDOM TO SWITCH

Compared to other pension plans in India, NPS pension scheme is one of the best in terms of flexibility as it allows you to switch your Service Provider, Fund, Investment Option and Pension Fund Manager

PRUDENTLY REGULATED

National Pension Yojana is regulated by the PFRDA with transparent investment norms, regular monitoring and performance review of fund managers by the NPS Trust

GRIEVANCES MANAGEMENT

Subscriber grievances are efficiently managed through CRA/PFRDA Website, Call Center, Email or Postal Mail

TRANSPARENT INVESTMENT NORMS

investment in national pension scheme Portfolio under each asset class can be viewed on respective Pension Fund Manager’s website

LOW OPERATIONAL COST

With 0.01% as Fund Management Charge, National Pension Scheme in India is one of the world’s least cost investment options

POWER OF COMPOUNDING

Till the retirement, pension wealth accumulation grows over the period of time with a compounding effect.

  • NPS VS PPF
  • NPS VS ELSS MUTUAL FUNDS

NPS VS PPF

NPS VS PPF
ELIGIBILITY AGE
Between 18 - 65 Between 18 - No upper limit
MINIMUM AMT. TO INVEST P.A.
Minimum investment per year is Rs.1000. Minimum investment per year is Rs.500.
TAX BENEFIT
Tax Benefit up to Rs. 2,00,000 available per financial year.
Contributions up to Rs. 1,50,000 are exempted u/s 80CCD(1).
Additionally, contributions up to Rs.50,000 are exempted u/s 80CCD(1B).
Tax Benefit up to Rs. 1,50,000 available per financial year.
Contributions up to Rs. 1,50,000 are exempted u/s 80C.
CHOICE OF ASSETS / FUNDS
Can choose to divide investment into 3 types of funds namely - Equity, Corporate Bonds & Government Securities No choice. Everything is invested in Government Securities only.
AVAIL ANNUITY (PENSION) FACILITY
Yes No
LOAN FACILITY
No Yes
NRI’S CAN INVEST
Yes No
INVESTMENT MANAGEMENT CHARGES
0.01% p.a. 0%
PREMATURE WITHDRAWAL
Before Age 60: Up to 20% of Corpus can be withdrawn in lump sum Balance amount needs to be invested in Annuity
After Age 60: Up to 60% of Corpus can be withdrawn in lump sum Balance amount needs to be invested in Annuity
Can be made from the start of the 7th financial year
Complete withdrawal done only at maturity i.e. after 15 yrs.
REGULATED BY
Pension Fund Regulatory and Development Authority (PFRDA) Government of India

NPS VS ELSS MUTUAL FUNDS

NPS VS ELSS
ELIGIBILITY AGE
Between 18 - 65 No minimum or maximum limit. Minor accounts can be opened.
MINIMUM AMT. TO INVEST P.A.
Minimum investment per year is Rs.1000. Minimum investment per year is Rs.500.
TAX BENEFIT
Tax Benefit up to Rs. 2,00,000 available per financial year.
Contributions up to Rs. 1,50,000 are exempted u/s 80CCD(1).
Additionally, contributions up to Rs. 50,000 are exempted u/s 80CCD (1B).
Tax Benefit up to Rs. 1,50,000 available per financial year.
Contributions up to Rs. 1,50,000 are exempted u/s 80C.
CHOICE OF ASSETS / FUNDS
Can choose to divide investment into 3 types of funds namely - Equity, Corporate Bonds & Government Securities No choice. Everything is invested in Equity only.
AVAIL ANNUITY (PENSION) FACILITY
Yes No
LOAN FACILITY
No No
NRI’S CAN INVEST
Yes Yes
INVESTMENT MANAGEMENT CHARGES
0.01% p.a. 1.90% to 3% p.a.
PREMATURE WITHDRAWAL
Before Age 60: Up to 20% of Corpus can be withdrawn in lump sum Balance amount needs to be invested in Annuity
After Age 60: Up to 60% of Corpus can be withdrawn in lump sum Balance amount needs to be invested in Annuity
Complete withdrawal done only at maturity i.e. after 3 yrs.
REGULATED BY
Pension Fund Regulatory and Development Authority (PFRDA) Securities and Exchange Board of India (SEBI)
money-is-invested-for-retirement

HOW YOUR MONEY IS INVESTED FOR RETIREMENT?

Get a choice of 3 funds to invest in NPS along with an option to manage your investments on your own through “Active Choice” or have it will be managed by an automated module i.e. “Auto Choice”. Read more

withdrawal-rules-from-nps

WITHDRAWAL RULES FROM NPS

Know how you can make partial withdrawals from your national pension scheme fund or exit from the scheme before as well as after retirement.Read more

nps-corporate-sector

NPS CORPORATE SECTOR

A customized version of NPS to suit various organizations so that employee needs for retirement planning are met.

nps-architecture

NPS ARCHITECTURE

View

×

HOW YOUR MONEY IS INVESTED FOR RETIREMENT?

You get the choice of 3 funds under NPS:

  • Equity (E)
  • Corporate Bonds (C), and
  • Government Securities (G)

Additionally, you also get the choice of 2 Investment Options:

  • Active Choice: You have the freedom to choose your own asset allocation mix (exposure to Equity fund being restricted to maximum 50%).
  • Auto Choice: You don’t have to do anything as NPS automatically sets your asset allocation by adjusting across the above 3 funds based on your Age (as per your Date of birth) as shown in below chart
Your Age Equity (E) Corporate Bonds (C) Government Securities (G)
<=35 Yrs 50% 30% 20%
36 48% 29% 23%
37 46% 28% 26%
38 44% 27% 29%
39 42% 26% 32%
40 40% 25% 35%
41 38% 24% 38%
42 36% 23% 41%
43 34% 22% 44%
44 32% 21% 47%
45 30% 20% 50%
46 28% 19% 53%
47 26% 18% 56%
48 24% 17% 59%
49 22% 16% 62%
50 20% 15% 65%
51 18% 14% 68%
52 16% 13% 71%
53 14% 12% 74%
54 12% 11% 77%
>= 55 Yrs 10% 10% 80%

The re-alignment of your portfolio under ‘Auto Choice’ option is automated and is exercised every year on your Date of birth.

Lastly:

  • You will have various Investment Option (Auto/Active Choice) for Tier I and Tier II accounts
  • You will also be able to change your Asset Allocation Mix & Investment Option (Auto/Active Choice) once in a financial year for both - Tier I and Tier II accounts.
  • There is no fixed interest on national pension scheme and it entirely depends on how you spread your investments between equities (E) and fixed income funds (G) & (C).
×

WITHDRAWAL FROM NPS

Partial Withdrawal from the Scheme

In the entire life span, 3 partial withdrawals are allowed from Tier I account before attainment of at 60 years as shown below

  • First withdrawal will be after 3 years of account opening
  • 2nd and 3rd withdrawal would be after a gap of 5 years from the first withdrawal

25% of the Contribution amount will be allowed for specific purposes like Child marriage, Higher education, Treatment of Critical illnesses, buying home etc.

Exit from the Scheme

Subscriber can exit from the Scheme after 10 years of account opening or on attainment of the age 60 years whichever is early. The payout will be defined as per the exit age of the Subscriber.

Exit before the age 60 years Exit at the age 60 years(E)
Up to 20% of Corpus can be withdrawn in lump sum Up to 60% of Corpus can be withdrawn in lump sum
Balance amount needs to be invested in Annuity Balance amount needs to be invested in Annuity
If the Corpus is less than or equal to Rs.1 lakh, there is no need to invest into Annuity. Entire amount can be withdrawn in lump sum If the Corpus is less than or equal to Rs.2 lakhs, there is no need to invest into Annuity. Entire amount can be withdrawn in lump sum
  • Subscriber can defer the decision to invest in Annuity for 3 years.
  • Subscriber can defer the decision of lump sum withdrawal for 10 years.
  • Lump sum amount due for withdrawal at the age 60 can be withdrawn in 10 installments as per the choice of the Subscriber.
  • If Subscriber does not want to exit at the age of 60 years, she can keep on contributing towards NPS till the age 70 years

Death Benefit

In case of death of the Subscriber the entire Corpus is given to the nominee. In case Subscriber has not opted for any nominee, the legal heir can claim the amount.

×

HOW YOUR MONEY IS INVESTED FOR RETIREMENT?

  • NPS is based on Permanent retirement account Number(PRAN) created for individual members. NPS accumulates savings into subscriber's PRAN while he is working and use the accumulations at retirement to procure a pension for the rest of his life.
  • NPS architecture consists of NPS Trust which is entrusted with safeguarding subscribers interests, a Central Recordkeeping Agency (CRA-Karvy/NSDL) which maintains the data and records, Point of Presence (POP-ACMIIL) and aggregators as collection and distribution arms, competing pension fund managers for generating and maximizing returns on investments of subscribers, custodian to take care of the assets purchased by the Fund managers and Trustee bank to manage the banking operations.
  • NPS has an unbundled Architecture, with inbuilt checks and balances, where each function is performed by a different entity which is renowned in its area, to achieve maximum operational efficiency and at a low cost.
  • KARVY/ NSDL is acting as Central Record Keeping agency (CRA) which is associated with various national level projects for record keeping functions.
  • Financial Institutions like ACMIIL , acting as POPs (Point of Presence).
  • Funds are managed by professional Fund Managers(PFMs)from Public & Private sector with proven track record and as per the PFRDA approved investment guidelines. At present there are 8 pension fund managers managing the pension wealth of subscribers.
  • Axis Bank, functions as Trustee Bank.
  • Stock Holding Corporation of India Ltd, functions as custodian for NPS

*Tax benefit is for indicative purpose only. The tax benefits are calculated considering that income is chargeable to tax at the highest slab of 30.9% till retirement and that the investor invests a minimum of Rs. 50,000 per annum in NPS.  It is based on the input provided by the user and may vary based on the same. All calculations are made upon the assumption that the conditions mentioned in the relevant sections of the Income Tax Act, 1961 are met. Tax laws can change and be amended from time to time. The information that is contained in this calculator does not comprise of legal advice or tax advice. Users are advised to consult their tax advisors before making any decision and/or taking any action. The company will not be responsible for any kind of loss or damage done to any one, of any kind, in any manner that arises from the decisions and/or actions taken based on the information contained in this calculator.

Get all your queries answered.

022 2858 4546
nps@acm.co.in

FAQs – National Pension System

Here are the terms you need to know with regards to NPS before reading more on the National Pension System:

  1. POP – Point of Presence
  2. POP-SP – Point of Presence – Service Provider
  3. PFRDA – Pension Fund Regulatory and Development Authority
  4. PRAN – Permanent Retirement Account Number
  5. CRAs – Central Recordkeeping Agencies
  6. PFM – Pension fund managers
  7. ASP – Annuity Service Providers
  8. KCRA – Karvy Computer Shares Pvt Ltd
  9. AIF – Alternative Investment Funds
  10. KYC – Know Your Customer
  11. AUM – Assets Under Management
  12. PAN – Permanent Account Number


What is NPS?

National Pension System (NPS) is a scheme allows subscribers to contribute regularly in a pension account during their working life. On retirement, subscribers can withdraw a part of the corpus in a lump sum and use the remaining corpus to buy an annuity to secure a regular income after retirement. NPS investment is an easily accessible, low cost, tax-efficient, flexible, and portable retirement savings account.


Who can join National Pension Yojana?

Any Indian citizen (resident or non-resident), subject to the following conditions, can join the NPS Scheme:
*On the date of application to the POP/POP-SP, the applicant must be in the age bracket of 18 – 65 years.
*The applicant Indian citizen can either join the NPS as an individual or a corporate. However, this is subject to submission of all the required information and Know your customer (KYC) documentation.


Can an NRI open an NPS account?

Yes, An NRI can open an NPS account. However, the contributions made by NRI will be subject to regulatory requirements prescribed by RBI and FEMA. Moreover, if the Indian citizenship status of the NRI subscriber changes, their National Pension System account would be closed.


Can HUF, OCI and PIO join NPS?

No.HUF, OCI, and POI are not allowed to join the National Pension Scheme.


How do I open a NPS account?

You can open NPS account online. NPS is distributed through authorized entities called Points of Presence (POPs). One will have to open a NPS account with a POP to invest in NPS. The POP will provide the subscriber with all the help with regards to account opening. One can enrol online as an individual subscriber with Aadhar using the following steps:
1)Visit: https://accountopening.investmentz.com/AcmiilService/Karvy/Registration
2) Select Applicant Type: Individual Subscriber, Status of Applicant: Resident of India, and Select Account Type as per your preference (Tier 1 – is Pension Account & Mandatory) (Tier 2 – is Saving Account & Optional), Enter Aadhaar number and OTP
3) Next, you fill all your details and make your initial contribution online. Please make a note of the Acknowledge Number given at the time of registration. With the help of acknowledge number, a subscriber can check the status of the application.
4) Upon successful registration, the subscriber will receive a welcome kit within 10 working days. The welcome kit will contain: PRAN card (Permanent Retirement Account Number is a unique registration number allotted to each subscriber in the CRA system), subscriber information, and product information.


What uploads are required to be made for online opening of the Individual Pension Account under NPS?

An individual opening the Individual Pension Account using the online NPS platform (https://accountopening.investmentz.com/AcmiilService/Karvy/Registration) will have to upload the scanned photograph and signature in *.jpeg/* format with file size ranging between 4-12kb. However, this is optional for individuals opening a national pension scheme online with Aadhaar details.


Can I appoint nominees for the NPS Tier I and Tier II Account?

Yes. You are required to appoint a nominee while opening your NPS account online. This has a clearly specified section in the account opening form, which allows you to appoint up to 3 nominees for NPS Tier I and Tier II account. In case you make a nomination, you are required to specify the percentage of your savings that you wish to allocate to each of the nominees, with total aggregating to 100% of your total savings.


Can I change the Nominees for my National Pension Scheme NPS Accounts?

Yes. Nominees in your NPS Tier I account can be changed at any time after receiving your PRAN.


Does Subscriber need to deposit any minimum amount at the time of submission of NPS application form?

The following table provides the complete information on the minimum contribution requirements:

For All citizens 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 -
However, to avail of tax benefit u/s 80CCD (1B), you can deposit Rs. 50, 000 at once in your Tier I Account.


At what stage of the online process will I be able to know that my online NPS application has been accepted and I have been allotted a Permanent Retirement Account Number?

Upon successful registration of NPS account online and completion of online payment, the applicant will receive an online receipt, after which the Permanent Retirement Account Number (PRAN) will be generated. The subscriber will receive SMS and email alerts.


What happens after successful NPS registration? What intimation does the subscriber receive?

After successful NPS investment account registration, the PRAN kit (consisting of PRAN Card, Subscriber’s data and Information booklet) will be dispatched to the subscriber at his correspondence address. The T-Pin and I-Pin are sent separately to the registered address.


What is PRAN Card?

PRAN is the Permanent Retirement Account Number for your National Pension System account. It is a unique registration number allotted to each subscriber in the CRA system. This number will remain with the subscriber as long as he/she remains a subscriber in the NPS system. Moreover, it will not change despite the contributor moving to a new job or another location owing to transfer. PRAN is used to identify all the transactions relating to a subscriber.


When will the NPS contribution paid online get reflected in my PRAN?

Online National Pension Scheme contributions normally take around 3-4 working days to get reflected in your PRAN.


What are different types of NPS Account?

Under NPS, a subscriber can open two types of accounts – Tier I and Tier II. A Tier I account is mandatory to open to join the NPS. Difference between Tier I and Tier II accounts are as mentioned below:

Tier I NPS Account Tier II NPS Account
It is also known as Pension account It is known as investment account
Withdrawal from this account is permitted after 3 years of account opening or attaining the age 60 years whichever comes early Withdrawal from this account can be done at any point of time as per Subscriber’s need
Minimum annual contribution required for this account is Rs. 1000 NA


Can I have more than one NPS account?

No. You are not allowed to have multiple NPS accounts as an individual, especially since NPS is highly portable across sectors and locations, which doesn’t create the need to have multiple accounts.


Is it mandatory to open Tier II NPS Account at the time of opening Tier I NPS Account?

No. It is an optional account, which you can open at a later date.


What happens if the minimum annual contribution of Rs.1,000 is not invested in Tier - I NPS Account?

The PRAN gets frozen in case the subscriber fails to contribute minimum Rs.1000 in his/her Tier - I NPS Account. This will not allow the subscriber to perform any transaction in Tier - I and Tier - II NPS Accounts.


What is the process of unfreezing the PRAN?

This can be done by paying Rs.500 as minimum contribution amount and Rs.100 as a penalty. You will need to add the POP charges as well.


How many funds are there in NPS?

NPS offers 3 funds options to subscribers

  • Equities (E)
  • Corporate Bonds (C)
  • Government Securities (G)
The NPS investment towards equity funds us restricted to 50% of the contribution amount for Tier I and Tier II NPS Accounts. However, the subscriber can invest up to 100% in corporate bonds or government securities fund.


What are the different Fund Management Schemes available to the subscriber?

The NPS provides its subscribers with the flexibility of investing in its schemes through the following two approaches:

Active choice
–This option allows the subscriber to decide the asset classes in which he intends the contributed funds to be invested along with their respective percentages (Asset class E, Asset Class C, and Asset Class G).
Auto choice
–This option allows the subscriber to choose from three lifecycle funds –
Aggressive Life Cycle Fund (LC75), Moderate Life Cycle Fund (LC50),and Conservative Life Cycle Funds (LC25)
.Lifecycle funds enable automatic management of invested funds of the subscriber based on his/her age. Moderate Lifecycle Fund (LC50) is the default option under NPS.
Age of the Employee Equity Corporate Bonds Government Securities
< = 35 Yrs 50% 30% 20%
36 48% 29% 23%
37 46% 28% 26%
38 44% 27% 29%
39 42% 26% 32%
40 40% 25% 35%
41 38% 24% 38%
42 36% 23% 41%
43 34% 22% 44%
44 32% 21% 47%
45 30% 20% 50%
46 28% 19% 53%
47 26% 18% 56%
48 24% 17% 59%
49 22% 16% 62%
50 20% 15% 65%
51 18% 14% 68%
52 16% 13% 71%
53 14% 12% 74%
44 12% 11% 77%
55 10% 10% 80%


Which are the Pension Fund Managers available for NPS?

Following are the six Pension Fund Managers that NPS allows you to choose from currently:

  • Aditya Birla Sunlife Pension Management Limited
  • HDFC Pension Management Company Limited
  • ICICI Prudential Pension Funds Management Company Limited
  • Kotak Mahindra Pension Fund Limited
  • Reliance Capital Pension Fund Limited
  • SBI Pension Funds Private Limited
  • UTI Retirement Solutions Limited
  • LIC Pension Fund Ltd.


Are there any guaranteed returns provided under NPS?

Returns from NPS investment are market-linked and depend on the performance of Equity, Corporate Bonds, and Government Securities funds, which helps build the corpus.


Can a Subscriber change the fund allocation pattern under Active Choice?

Yes. That can be done, but only twice in a given financial year.


Can a Subscriber switch between Active Choice and Auto Choice?

Yes. That’s the added flexibility a subscriber enjoys. Again, this can be done twice in a given financial year.


Can Subscriber increase or decrease the contribution amount in subsequent years?

Yes. NPS provides its subscribers with the flexibility to alter their contribution amounts as per their suitability.


Can a Subscriber use 100% of accumulated wealth to buy annuity plan?

Yes. You can use it for buying an annuity plan.


Will the subscriber get any account statement relating to his investment to NPS?

Subscriber will receive a statement of account at the registered address once a year. This will list out all the details of contributions, investment, unit balances, NAV, and charges deducted. Moreover, the subscriber can always login to view the Statement of Account.


Does NPS subscriber get any alert on credit of contribution amount to his/her NPS accounts?

Yes. The subscriber will receive email and SMS alerts to their registered email ID and mobile number once the contribution gets credited to the NPS account.


What are the tax benefits available to subscribers for contribution under the corporate model?

Following are the tax benefits available to subscribers on their contributions:

NPS Account Tax Benefit Tax Treatment on withdrawal
Tier I Salaried Individual
  • Investment up to 10% of Salary (Basic + Dearness Allowance) is deductible from taxable income u/s 80CCD (1) of Income Tax Act, 1961 subject to 1.5 lakhs limit of section 80C
  • Additionally, investment up to Rs.50,000 is deductible from taxable income u/s 80CCD (1B) of Income Tax Act, 1961
Self Employed Professionals
  • Investment up to 20% of Gross Annual Income is deductible from taxable income u/s 80CCD (1) of Income Tax Act, 1961 subject to 1.5 lakhs limit of section 80C
  • Additionally, investment up to Rs.50,000 is deductible from taxable income u/s 80CCD (1B) of Income Tax Act, 1961
  • Up to 40% of Corpus withdrawn in a lump sum is exempt from tax
  • Balance amount invested in Annuity is also fully exempt from tax
  • Pension received out of investment in Annuity is treated as income and will be taxed appropriately
Tier II There is no tax benefit on investment towards Tier II NPS Account Indexation benefit can be claimed


Is partial withdrawal allowed from Tier I NPS Account?

Yes. A subscriber can withdraw up to 25% of the contributed amount from the Tier - I NPS Account after 3 years. Moreover, the subscriber can withdraw twice from the Tier I NPS Account after a gap of 5 years from the first withdrawal.


What are the conditions of partial withdrawal?

A subscriber is allowed to withdraw from Tier - I NPS Account only for specific purposes such as child’s marriage, higher education, and treatment of critical illnesses.


When can a Subscriber exit from National Pension Scheme, NPS?

A subscriber can exit from NPS investment account after 10 years of account opening or attaining 60 years of age whichever comes first.


How the pay-out happens if a subscriber exits from NPS?

The NPS has imposed restrictions on lumpsum amounts being made accessible to subscribers on exit, which are mentioned below: Upon attainment of the age of 60 years:

  • At least 40% of the accumulated pension wealth of the subscriber needs to be utilised for the purchase of annuity providing for a monthly pension to the subscriber
  • The balance is paid as lump sum payment to the subscriber
  • However, the subscriber has the option to defer the lump sum withdrawal until the age of 70
At any time before attaining the age of 60 years:
  • At least 80% of the accumulated pension wealth of the subscriber needs to be utilized for the purchase of annuity providing for a monthly pension to the subscriber
  • The balance is paid as a lump sum payment to the subscriber
Death of the subscriber:
  • The entire accumulated pension wealth (100%) would be paid to the nominee/legal heir of the subscriber
  • There would not be any purchase of annuity/monthly pension.


What are the other charges under NPS?

Intermediary Charge Head Service Charges Frequency of deduction Method of Deduction
PoP Subscriber Registration Charge Rs.200/- One time at the time of registration Deducted from the initial contribution amount deposited by Subscriber
Contribution processing charge 0.25% of the Contribution amount subject to minimum Rs.20 and maximum Rs. 25,000 On each transaction Deducted from the amount deposited by the Subscriber
Non – Financial Transaction Processing Charge Rs. 20/- On each transaction Collected from Subscriber separately
Persistency incentive (with effect from 1 Nov 2017) Rs.50 for each active retail customer Annual Collected by cancelling unit on a yearly basis
CRA (Central Record Keeping Agency) NPS Account opening charge 39.36 One time Collected by cancelling units on a quarterly basis
Account Maintenance charge 57.63 Annual
Financial transaction processing charge 3.36 On each transaction
Pension Fund Manager Asset Management Charge 0.01% Annual Adjusted before NAV publication
Custodian Asset Servicing Charge 0.0032% Annual
NPS Trust Trust Management Charge 0.01% Annual


What is meant by Non–Financial Transaction?

Non-financial transactions include change of address, contact details, and change/addition of nominee.

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  • KYC is a one-time exercise while dealing in securities market. Once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary.

  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in the investor’s account.

"Prevent unauthorized transactions in your trading and demat account- Update your mobile numbers/email IDs with your Stock Broker and Depository Participant. Receive information of your transactions directly from Exchange on your mobile/email at the end of day. Receive alerts on your Registered Mobile for all debits and other important transactions in your demat account directly from CDSL on the same day’ call us on 02228584545 Email : customerservice@acm.co.in

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