Salient features of NPS
NPS is a dynamic scheme launched by the Government of India, to help all the citizens to plan their future as per their convenience. Its voluntary, highly flexible, easily portable, safe, low in cost and helps in achieving independence even after retirement.
Voluntary Scheme
It is a voluntary scheme open to every citizen of India between the age group of 18-65 year working in the private / unorganized sector.
Flexibility
- The scheme provides flexibility to the citizens to park their excess fund temporarily in the scheme through the Tier II account.
- The scheme gives flexibility to the citizens to continue their account with as low investment as Rs 500/- at one time and Rs 1000/- per annum.
- The scheme gives flexibility to select the fund manager and monitor the performance.
Portability
The citizens may operate account from anywhere in India through vast networks of Point of Presence (PoPs).
Independence
The scheme enables the citizens to be independent even after getting retirement.
Safe Investment
A safe retirement fund–Introduced by the Government of India and regulated by Pension Fund Regulatory & Development Authority.
Low cost scheme
One of the most important features of the product is that it can manage automated asset allocation for each individual account separately by starting with a higher allocation to equities and gradually shifting away to fixed income as one gets older.
