Thursday, July 15, 2021

National Pension Scheme (NPS): Subscriber Registration Form, Open NPS Account

 Retirement planning is a very important part of life. Keeping this in mind, the Government of India has started the National Pension Scheme. Today we are going to provide you all the important information related to this scheme through this article. Such as what is National Pension Scheme?, its purpose, benefits, features, eligibility, important documents, the application process, helpline number etc. So friends, if you want to get all the important information related to the National Pension Scheme, then you are requested to read this article of ours till the end.

National Pension Scheme

NPS is a government investment scheme. Pension is given after retirement through this scheme. This scheme was started in 2004 for all government employees. From 2009, this scheme was opened to all categories of people. Any person can take advantage of this scheme by contributing to the pension account during his working life. He can withdraw some part of the deposited amount even before retirement and can use the remaining amount after retirement to get regular income. Both the employer and the employee invest in the National Pension Scheme. Under NPS, employees can withdraw 60% of the total deposited amount at the time of retirement and the remaining 40% goes to the pension scheme.

Assets Under Management Cross 6 Lakh Crore

The National Pension Scheme was launched to provide pensions to all central government employees. But later this scheme was started for all the citizens of India. Pension is provided after attaining the age of 60 years on investment through this scheme. The pension assets under management under this scheme have crossed the 6 lakh crore mark under National Pension and Atal Pension Yojana after a gap of 13 years.

  1. It has been informed by the Ministry of Finance on 26 May 2021 that it has been announced by the Pension Fund Regulatory and Development Authority that an increase of 1 lakh crore in the last 7 months has been registered in the Pension Asset Under Management. In the last years, about 74.40 lakh government employees have subscribed under this scheme and 28.37 lakh non-government employees have subscribed to this scheme.
  2.  Through which the Pension Fund Regulatory and Development Authority of about 4.28 crore subscribers increased. The assets under management under National Pension Scheme and Atal Pension Yojana have increased to ₹ 603667.02 crores.

national pension scheme new update

Till now government employees were physically registered under the National Pension Scheme. Which was done through an online module adopted by the Central Record Company Agency or the nodal offices of the government. Now the online facility to register under the National Pension Scheme is being started by the Pension Fund Regulatory and Vikas Padhikaran. Under this, now employees can open their NPS account online. The online process will be known as e-NPS. E-NPS will be hosted by CRA. Under which the subscriber can register himself and contribute under NPS.

Objective of National Pension Scheme

The main objective of the National Pension Scheme is to provide pension amounts after retirement to all the investors. Through the National Pension Scheme, all the citizens will remain self-reliant even after retirement and they will not have to face any financial problems. Under this scheme, investors can invest according to their financial condition. So that more and more people will be able to apply under this scheme. There are two types of accounts in the National Pension Scheme which are called Tier One and Tier Two. By investing in the National Pension Scheme, you will be financially independent even after retirement.

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