What is the National Pension System (NPS)?
NPS is the most cost-effective government-approved pension program for Indian citizens aged 18 to 60. On January 1, 2004, the National Pension System (NPS) was established, to create a self-funding social security vehicle. Central and state government employees must participate in NPS, while it is voluntary for others. There is no set money that would be accessible when exiting the system. The acquired wealth in an NPS account is determined by contributions made and revenue earned from the investing of such money. On October 10, 2003, the Government of India formed the Pension Fund Regulatory and Development Authority (PFRDA) to govern the country’s pension market.
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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