NPS Account: Any citizen (both resident and non-resident) falling in the age group of 18 to 70 years can join NPS. NPS gives good returns in the long term.
NPS Account: The government has been preparing to make changes in the National Pension Scheme (NPS) for a long time to give higher pension to the employees. Now it is expected that the government can make a big announcement related to this in the budget to be presented on July 23. The government can offer guaranteed returns in NPS. According to a report by the Times of India, central government employees can be promised 50 percent of their last salary as pension. The objective of the NPS scheme is to provide pension and investment security for old age to the citizens of India.
PFRDA controls
NPS provides a long-term savings path to effectively plan your retirement through safe and regulated market-based returns. It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). The National Pension System Trust established by PFRDA is the registered owner of all the assets under NPS. Any individual citizen (both resident and non-resident) falling in the age group of 18 to 70 years can join NPS. NPS gives good returns in the long term.
How to open NPS account?
If you want to open an NPS account online from home, then you have to visit the CRA website. At present, CAMS, KFin Technologies and Protean eGov Technologies are the three CRAs. You can open an NPS account by visiting their website. Let’s know the step by step process.
Step 1. Go to the website of any one of the three CRAs.
Step 2. Now you have to enter mobile number, PAN and email ID.
Step 3. After this, OTP will come on your mobile. Enter it.
Step 4. After this you will get PRAN number on mobile and email. Now your NPS account has been opened. Now you can start investing.
How to open NPS account offline?
To open an offline NPS account, you have to search for your nearest Point of Presence (PoP). These can be banks, post offices and government offices. You can get the list of POPs by visiting the PFRDA website. You will have to go to the POP and get your KYC done. After this, you can open an account by depositing Rs 500 in the NPS Tier 1 account.
