HSL Mobile App Individual NPS
The National Pension Scheme, also known as New Pension Scheme, is a contribution retirement scheme, regulated by the PFRDA. It helps you build a retirement corpus in a systematic manner during your working life. On retirement, you can withdraw up to 60% of the corpus as a lump sum amount, while a minimum of 40% has to be invested in annuity schemes. Investment in annuity ensures you a monthly income in the form of pension. To summarise, NPS comes with the dual advantage of saving tax and assuring a regular income in the future.
Key Benefits of Individuals NPS
With NPS you are ensured of a systematic investment and withdrawal plan to take care of your finances post retirement.
Tax Benefit
Get extended tax benefit with Rs 150,000 under Section 80C limit and additional Rs 50,000 under Section 80CCD(1B).
Regulated (Protection)
Gets protection as it is regulated by PFRDA, which is backed by the Indian Government
Flexibility
You can switch between investment options (once a year) depending upon market conditions.
Beats Inflation
You can beat inflation by earning market linked returns if you opt for equity investment.
(Affordable) Systematic Saving
You can start saving as low as Rs 500 per transaction and Rs 1,000 per year.
No Upper Limit
You can plan your real retirement returns based on your requirements as there is no upside cap on investments in NPS
Investment Options
You get two options to choose from, either active choice or auto choice investment options in NPS.
What is the National Pension System (NPS)?
The NPS is a new contributory pension scheme launched by Government of India with effect from 1 January 2004. NPS is regulated by Pension Fund Regulatory and Development Authority (PFRDA), was first introduced for government employees and was opened for all citizens of India in 2009. Under the NPS, ...
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How can a subscriber get registered for NPS?
Any Individual who wants to get registered as a subscriber and wants to open a Permanent Retirement Account (PRA)(Tier I) in NPS would submit the duly filled form (Composite application form for subscriber registration) with other supporting KYC documents to HDFC securities Ltd.
Where do I get the registration forms?
Application form for registration for NPS can be downloaded from the www.hdfcsec.com website. You need to forward the duly filled subscriber registration form, photograph, 1st contribution cheque & self-attested KYC documents to HDFC securities corporate office at Kanjurmarg, Mumbai.
Is there any upper limit of Investment?
No there is no upper limit on Investment in NPS.
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Read our latest blogs and features to find out why and how NPS works as one of the better financial solution for your post retirement life.
