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Introduction:
National Pension System (NPS) was launched by Government of India on 1st January, 2004. The main objective of the NPS is to provide retirement income to all the citizens of India. It aims to institute pension reforms and to inculcate the habit of saving for retirement amongst the citizens. NPS has been started for all citizens of India including the unorganised sector workers on voluntary basis.
Key Features:
- You will be given a unique Permanent Retirement Account Number (PRAN).
- You can use this PRAN from any location in India.
- PRAN will provide access to 2 personal accounts:
- Tier I Account: It is a non-withdrawal account for retirement savings.
- Tier II Account: It is simply a voluntary savings facility. You are free to withdraw from this account whenever you wish. No tax benefit is available on this account.
The Pension Fund Regulatory and Development Authority (PFRDA) has authorized 58 institutions as Points of Presence (POPs) for opening the National Pension System (NPS) accounts of the citizens including: -
- public sector banks,
- private banks ,
- private financial institutions
- and the Department of Posts
National Securities Depository Limited (NSDL) plays significant role in the recordkeeping, administration and customer service functions for all subscribers of the NPS. It is acting as the Central Recordkeeper for the NPS.
After exit from the NPS, .Annuity Service Providers (ASPs) would be responsible for delivering a regular monthly pension to the applicant.
Benefits of National Pension System:
- NPS is cost effective system wherein the pension contributions are invested in the pension fund schemes.
- NPS is transparent as you will be able to knw the value of investment on daily basis.
- It is simple as you just have to open an account with your nodal office and get a Permanent Retirement Account Number (PRAN).
- It is portable as each employee is identified unique number and has a separate PRAN which is portable i.e, it will remain same even if an employee get transferred to any other office.
- The appreciation received on the contribution and the amount used by you to buy the annuity is not taxable. Only the amount you will withdraw after the age of 60 is taxable.
How to apply Online:
For account opening, you need to have :
- Mobile number,
- email ID
- and an active Bank account with net Banking facility enabled
In case, an applicant selects to open the individual pension account with PAN, the activation of the PRAN is subject to KYC verification by the empanelled POP (name and address should match with POP record) selected by applicant during the registration process.
- Scan and upload your photograph (optional for Aadhaar) and signature
- Make online payment (Minimum amount of ₹ 500)
- In case applicant is unable to do eSign, Print the form, paste photograph & affix signature and submit the Form to CRA
Who can apply under NPS ?
Central Government Employees
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All new employees of Central Government service (except Armed Forces) and Central Autonomous Bodies joining Government service on or after 1st January 2004 can apply under NPS. | |
Procedure to apply |
The process of registration under NPS(Tier-I) for Central Government employees is as follows:
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Contribution to NPS | Contribution through their nodal office to National Pension System (NPS) is mandatory for the Central Government employees. 10% of his/ her salary (basic + DA) and equivalent government's contribution will be invested every month in NPS. |
Withdrawal |
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State Government Employees
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All the employees of State Governments, State Autonomous Bodies joining services after the date of notification by the respective State Governments can apply under NPS. | |
Procedure to apply |
The process of registration under NPS(Tier-I) for State Government employees is as follows:
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Contribution to NPS | Contribution through their nodal office to National Pension System (NPS) is mandatory for the State Government employees. 10% of his/ her salary (basic + DA) and equivalent government's contribution will be invested every month in NPS. |
Withdrawal |
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Corporate
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A Corporate would have the flexibility to decide investment choice either at subscriber level or at the corporate level centrally for all its underlying subscribers. | |
Benefits to Corporate |
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Benefits to Subscribers |
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Procedure to apply | The Corporate can register for NPS through following process:
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Contribution to NPS | A Corporate would have flexibility for providing investment scheme preference (PFM and Investment choice) either at subscriber level or at the corporate level centrally for all its underlying subscribers. |
Withdrawal |
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Individual
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Procedure to apply |
The procedure of registration for an individual under NPS is as follows:
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Contribution to NPS |
To contribute in Tier I and Tier II account, a subscriber is required to make his / her first contribution at the time of applying for registration (minimum contribution Rs.500 for Tier I and Rs.1000 for Tier II) at any POP-SP with NCIS (NPS Contribution Instruction Slip) form. The NPS subscriber is required to make contributions subject to the following conditions:
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Withdrawal |
In Tier I account, a subscriber can withdraw from NPS on his/ her retirement, resignation or death. To withdraw from Tier II account, the subscriber needs to submit UOS-S12 form- to the associated POP-SP.On date of processing with addition of 3 days, the funds are transferred from the Trustee Bank to subscriber's bank account as registered in the CRA system. |
Contact Information:
Head Office -
NSDL e-Governance Infrastructure Limited
1st Floor, Times Tower, Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel,
Mumbai - 400 013
Tel. - (022) 2499 3499
Fax - (022) 2495 2594/ 2499 4974
Contact details of CRA Officials - Central Government, State Government and Unorganized Sector & Corporate
Central Government | State Government | Unorganized Sector & Corporate | Retirement Adviser | |
For Entity and Subscriber Registration : | Vishal S.Masurkar Assistant Manager Phone number - 022-40904533 Email ID - vishalm@nsdl.co.in Vijay Hedge Manager Phone Number - 022-24994298 Email ID - vijayh@nsdl.co.in |
Sonukumar Singh Assistant Manager Phone number - 022-24994296 Email ID - sonukumars@nsdl.co.in Akik Desai Manager Phone Number -022-24994751 Email ID - akikd@nsdl.co.in |
Ahsanullah Shaikh Assistant Manager Phone number - 022-40904664 Email ID - ahsanullahs@nsdl.co.in John Max Soares Manager Phone Number -022-40904943 Email ID - JohnS@nsdl.co.in |
Laxmi Suvarna Executive Phone Number - 022-40904247 E-mail - laxmip@nsdl.co.in Smita Nair Senior Manager Phone Number - 022-40904589 E-mail - smitan@nsdl.co.in |
For Exit and Withdrawals | Darshan H Solanki Assistant Manager Phone Number - 022-40904944 E-mail - darshans@nsdl.co.in Janhavi Tandlekar Manager Phone Number - 022-40904246 E-mail - janhavit@nsdl.co.in |
Sagar Kondvilkar Assistant Manager Phone Number - 022-40904668 E-mail - SagarK@nsdl.co.in Dinesh Dalvi Manager Phone Number - 022-40904842 E-mail - dinesh.dalvi@nsdl.co.in |
Prashant Gurav Executive Phone Number - 022-40904257 E-mail - prashantg@nsdl.co.in Janhavi Tandlekar Manager Phone Number - 022-40904246 E-mail - janhavit@nsdl.co.in |
Escalation Matrix for Central Grievance Management System (CGMS) - Only for NPS (National Pension system) related queries/complaints
Escalation Level | Name of the Official | Contact details |
Level I |
Mr. Chandrashekhar Warange Grievance Redressal Officer (GRO) |
Tel No. - 022 24993499 Email ID - gro@nsdl.co.in |
Level II | Mr. Mandar Karlekar Chief Grievance Redressal Officer (CGRO) | Fax No. - 022 24952594 Email ID - cgro@nsdl.co.in |
Escalation Matrix for Exits related to NPS (National Pension System) only
Escalation Level | Name of the Official | Contact details |
Level I | Ms. Manjiri S. Salvi | Tel No. - 022 24994274 Email ID - npsclaimassist@nsdl.co.in |
Level II | Mr. Dinesh Dalvi | Email ID - dinesh.dalvi@nsdl.co.in |
Level III | Mr. Mandar Karlekar | Fax No. - 022 24994974 Email ID - mandark@nsdl.co.in |
Branches | Address | Tel. No | Fax |
Kolkata | 5th Floor, The Millenium, Flat No. 5W, 235/2A, Acharya Jagdish Chandra Bose Road, Kolkata - 700 020 | (033) 2281 4661 / 2290 1396 | (033) 2289 1945 |
Chennai | 6A, 6th Floor, Kences Towers, #1 Ramkrishna Street, North Usman Road, T. Nagar, Chennai - 600 017 | (044) 2814 3917/18 | (044) 2814 4593 |
Delhi | 409/410, Ashoka Estate Building, 4th floor, Barakhamba Road, Connaught Place, New Delhi - 110 001 | (011) 23705418 / 2335 3817 | (011) 2335 3756 |
Ahmedabad | Unit No. 407, 4th floor, 3rd Eye One Commercial Complex Co-op. Soc. Ltd., Above Vijay Sales Stores C. G. Road, Near Panchvati Circle, Ahmedabad - 380 006. | (079) 2646 1376 | (079) 2646 1375 |
Caste | Person Type | Scheme Type | Govt |
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Matching schemes for sector: Pension
Sno | CM | Scheme | Govt |
---|---|---|---|
1 | അതാൽ പെൻഷൻ യോജന (APY) | CENTRAL GOVT | |
2 | Pradhan Mantri Laghu Vyapari Mandhan Yojana(PMLVMY) | CENTRAL GOVT | |
3 | Pradhan Mantri Vaya Vandana Yojana | CENTRAL GOVT | |
4 | NPS Vatsalya Scheme | CENTRAL GOVT |
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