प्राइवेसी पॉलिसी

After retirement, a pension is the only way through which people live their lives. The country's largest public sector bank SBI also runs its guaranteed pension scheme. Suppose you have started earning from the age of 21 and from the same year you have started depositing 1000 rupees every month in NPS. Accordingly, you are depositing 12,000 rupees every year in NPS. For this, you can take the help of the National Pension System. Let us tell you about the advantages of investing in NPS:

What is NPS?

The National Pension System (NPS) is a government retirement savings scheme, which was launched by the Central Government on 1 January 2004. This scheme is mandatory for all government employees joining after this date. Since 2009, this scheme has also been opened for the people working in the private sector. Now, along with the government, any employee working in the private sector can be involved in the scheme wisely. After retirement, the employees can withdraw one part of the NPS and after the retirement, the retirement income can take the annuity for regular income.

Conditions of joining a scheme

Any Indian citizen whose age is between 18 to 60 years can be included in this. It is necessary to follow the Know Your Customer (KYC) rules to join this scheme.

How does the account open:

The government has created the Point of Presence (POP) across the country, in which NPS account can be opened. Almost all the government and private banks of the country have been made POPs, through the website of Pension Fund Regulatory and Development Authority (PFRDA), https://www.npscra.nsdl.co.in/pop-sp.php also point out You can reach the Presence. The account can also be opened in the nearest branch of any bank.

These are essential documents to open an account:

• Address proof
• 
  
• Identity proof
• 
  
• BIRTH CERTIFICATE OR TENTH CLASS CERTIFICATE

Tier I and Tier II Account

There are two types of accounts in this scheme. Tier 1 and Tier 2. Each Permanent Retirement Account Number (PRAN) is provided to the subscriber, which has a number of 12 digits. This number works in all transactions.

Tier 1 Account: It is mandatory to open this account. Whatever amount you are depositing in this account, it can not be termed before the time i.e. retirement. You can withdraw money only when you leave the scheme.

Tier 2 Account: Any Tier 1 Account Holder can open this account and can also deposit and withdraw money in its own interest. This account is not mandatory for everyone. It depends on your desire.

Most Important Terms and Conditions

1. New Pension System (NPS) is a scheme run by the Government of India and is authorized to accept a contribution from the State Bank of India agents and open the accounts. The returns in this scheme are completely controlled by PFRDA Are there.

2. In order to open an NPS account, the customer should be in the age group of 18-60 years.

3. According to KYC norms, the photo identity proof, date of birth proof and address proof should be submitted along with the application form.

4. There are two types of accounts in NPS, Tier - 1 account, and Tier - 2 accounts. Tier - 1 account for NPS is compulsory, while Tier - 2 account is optional. Tax Benefit is available in the Tier - 1 account. Tier - 2 account must have a Tier - 1 account. It is compulsory to invest at least Rs. 500 per month in the Tier - I account. In this way, it is necessary to invest Rs. 6000 per annum in the Tier - 1 account.