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NPS ( National Pension Scheme) – NPS Login, Scheme & Benefits

The National Pension System (NPS) is a legislature supported pension scheme It was propelled in January 2004 for government workers. Notwithstanding, in 2009, it was opened to all offices. The plan enables supporters to make normal commitments to the benefits account during their working life. Upon retirement, supporters may pull back a carcass in Ekalsam and utilize the remainder of the corpus to buy NUET to win standard pay after retirement.

What is NPS ( National Pension Scheme )?

The National Pension Scheme is a standardized savings activity by the Central Government. This benefits program is available to general society, private and sloppy area workers, except for the military. The plan urges individuals to put resources into a benefits account at customary interims during their business. Upon retirement, supporters may take a specific level of the enterprise. As an NPS account holder, you will get the parity as a month to month benefits after your retirement.

How to open an NPS account?

PFRDA regulates the operation of NPS, and they offer an offline and offline means to open this account.

A. Offline Process
To open an NPS account offline or manually, you must first find a POP-Point Pre-Fee presence, (it can also be a bank). Collect the subscriber form from your nearest POP and submit it with KYC papers. Once you make an initial investment (less than Rs 500 or Rs 250 annually or no more than Rs 1,000 annually), POP will send you a PRAN - Permanent Retirement Account Number. This number and password in your sealed welcome kit will help you get your account running. The one-time registration fee for this process is Rs. Is.

B. Online Process
It is now possible to open NPS account in less than half an hour. If you link your account to your PAN, Aadhaar and mobile number, it is easy to open an online-offline account (enps.nsdl.com). You can validate registration using OTP sent to your mobile. This will generate a PRAN (Permanent Retirement Account Number), which you can use to calculate the NPS login.

Types of NPS Account?

The two primary account types under NPS are Tier I and Tier II. The former is default account, while the latter is a voluntary addition. The table below explains the two account types in detail.

ParticularsNPS Tier-I AccountNPS Tier-II Account
StatusDefaultVoluntary
WithdrawalsNot permittedPermitted
Tax exemptionUp to Rs 2 lakh p.a.(Under 80C and 80CCD)1.5 lakh for government employees Other employees-None
Minimum NPS contributionRs 500 or Rs 500 or Rs 1,000 p.a.Rs 250
Maximum NPS contributionNo limitNo limit

Comparing NPS scheme with other Tax Saving Instruments:

Apart from NPS, other popular tax saving investment options under Section 80 are Equity Linked Savings Scheme (ELSS), Public Provident Fund (PPF) and tax-saving fixed deposits (FD). Here's how they are compared to NPS ...

InvestmentInterestLock-in periodRisk Profile
NPS8% to 10% (expected)Till retirementMarket-related risks
ELSS12% to 15% (expected)3 yearsMarket-related risks
PPF8.1% (guaranteed)15 yearsRisk-free
FD7% to 9% (guaranteed)5 yearsRisk-free

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