National Pension Scheme (NPS) For

Individuals (Non Government)
Age Limit: 18-60 years. 2 Types: Tier 1 & Tier 2

NPS Tier I (With Tax Advantage)

- Where To Open: Banks, Post Offices. Registration with ID, Address Proof, 2 Photos.

- Minimum Contribution At A Time: ` 500 (On Account Opening And Thereafter).
- Minimum Yearly Contribution: ` 6,000.
- Maximum Limit: None.

- Tax Deduction: ` 200,000 (150,000 U/S 80CCE And ` 50,000 U/S 80CCD).

- Portfolio: Mix Of Equity (15%), Govt. & Corporate Bonds / Fixed Deposits / Liquid Funds (85%). Managed By SBI / UTI / LIC / ICICI PFMs etc. Fund

Management Fee: 0.01% of Net Assets Managed. o No Assured Returns.

- Premature Withdrawal: Before attaining 60 Years' Age, At Least 80% Of The Accumulated Value To Be Reinvested In Specified Annuity Schemes.

- Maturity: At 60 Years Age, At Least 40% To Be Reinvested In Specified Annuity Schemes (Monthly Income Schemes). NPS Corpus up to ` 2 lakhs is allowed to be fully withdrawn. In Case Of Death, 100% (Accumulated Value) Paid To The Nominee.

- Monthly Pension After Retirement: To the Person/ Spouse/ Dependent Parents Depending On The Chosen Annuity Scheme.

NPS Tier II (No Tax Advantage)

- Where To Open: Banks, Post Offices. Registration with ID, Address Proof, 2 Photos.
- Bank A/c: Mandatory.

- Minimum Contribution: At The Time Of Account Opening: ` 1000. o Minimum Balance: At The End Of Each Financial Year: ` 2000.

- Minimum Contribution At A Time: ` 250. o Minimum Yearly Contribution: ` 250.
- Maximum Limit: None.
- Tax Deduction: None.

- Portfolio: Mix Of Equity, Govt.\Corporate Bonds, Fixed Deposits, Liquid Funds. Fund Management Fee: 0.01% of Net Assets Managed.

- Portfolio Mix: At Your Choice- Equity (Up To 50%), Corporate Bonds (Up To 100%), Govt. Securities (Up To 100%), Automatic (Calculated By The System Based On Your Age).
- Portfolio Managers (PFMs): Choice Of SBI / UTI / LIC, ICICI PFMs etc.

- Withdrawal: Any Time, Any Amount Subject To A Minimum Balance Of ` 2000 At The End Of Any Financial Year.
- No Assured Returns.