Eligibility

All citizen aged between 18-70 can open the account.

However, till age of 75, we can stay invested in NPS.

Features of the Scheme

Individual can open Tier I and Tier II account under NPS.

Tier I account is mandatory and Tier II is optional.

Withdrawal Facility

Partial withdrawal permitted after 3 years in NPS.

Subscriber is free to withdraw their savings from Tier II account alone, without any restriction.

On superannuation, maximum 60% withdrawal permitted. 40% to be contributed for annuity.

If the amount of investment is less than Rs.5 lacs, full amount can be withdrawn.

Tax Benefits

Tax benefit up to Rs.150000/- u/s 80C and additional Tax benefit up to Rs. 50,000/- u/s 80CCD(1B) for Tier 1 investments.

Other Features

Customer has the choice to Fund allocation and returns are based on Market performance.

Choice of multiple pension fund managers and Investment Choice is also available.