Types of National Pension System
There are two types of Sub accounts under the same PRAN. These are called Tiers.
- Tier I, which is purely a pension plan.
- Tier II, is an investment plan with some market risk.
National Pension System
National Pension System: The National Pension System (NPS) is an Indian central government-supported benefits accumulation scheme aimed at protecting Indian citizens when they reach old age. It is a retirement benefits plan in which a beneficiary may obtain a consistent salary with tax breaks after retirement. With a little planning, a beneficiary can significantly increase their profits. The NPS is a low-cost benefits system that is overseen by the central government’s Pension Fund Regulatory and Development Authority of India.
In this article, we will provide important details about the National Pension System, its eligibility, types, advantages, management, etc.
Table of Content
- What is the National Pension System (NPS)?
- Eligibility for the National Pension System (NPS)
- How To Invest In National Pension Scheme?
- Types of National Pension System
- Interest Rate of National Pension System (NPS)
- Benefits of the National Pension System (NPS)
- Management of National Pension System (NPS) Investments
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