NS National Pension System (NPS) is a voluntary defined contribution pension system that aims to provide old age income at fair market-based returns over the long term. NPS is available to all citizens of India.

Who is eligible?

Any citizen of India between the age of 18 to 65 years can open a NPS Account. A non-resident Indian can also open an NPS account.

account opening

There are two ways to open an NPS account:

• By visiting the POP-SP (Point of Presence Service Provider) which can be a branch of the bank, post office.
• online through ENPS website access pan and bank details.

to take

A PRAN (Permanent Retirement Account Number) is issued to each NPS subscriber. In case of account opening, one can visit nearest POP-SP and submit PRAN application along with KYC documents. After the PRAN is issued, the PRAN card will be sent to the correspondence address.

e-NPS

You can open an account online through https://enps.nsdl.com/eNPS/NationalPensionSystem.html. Select e-Sign option based on Aadhaar Authentication. Alternatively, one can fill and print the online form by submitting the required details, affixing the latest photograph, signing and submitting it to the CRA.

first contribution

While applying for registration, the subscriber has to make the first contribution with a minimum of Rs.500.

noteworthy

• Applicant can track PRAN application status by entering the receipt number at https://cra-nsdl.com/CRA/pranCardStatusInput.do.
• NPS account can be opened only in individual capacity and not jointly or on behalf of HUF.

(Content on this page is courtesy of Center for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Aarti Bhargava and Labh Mehta.)