The number of subscribers of the National Pension Scheme (NPS) has increased on an annual basis in August. Recently, the Pension Fund Regulator and Development Authority (PFRDA) gave a big relief to the subscribers of NPS.
The corona virus epidemic has caused a lot of trouble to the people. Because of this, there has been loss in all areas. Investors are also worried about profits. Saving for middle class families is not easy. It is not known when all their salary is spent. Despite trying their best to spend less money, middle class families are unable to save money. In such a situation, National Pension Scheme (NPS) can be beneficial for you.
The number of 24.06 per cent shareholders on an annual basis
in accordance with the pension fund regulator and Development Authority (PFRDA), ‘Number of subscribers under the NPS is 24.06 per cent on an annual basis in August this year and went to 453.41 million. At the same time, in August 2020 this figure was 365.47 lakhs.
It is to be known that recently PFRDA had given a big relief to the subscribers of National Pension System. PFRDA had allowed NPS subscribers to withdraw their entire corpus and also changed the age limit for the scheme. Let’s know about the important changes made recently-
- According to PFRDA, an NPS subscriber whose total pension corpus is Rs 5 lakh or less can withdraw the entire amount without buying an annuity.
- Along with this, the pension regulator had said in a gazette notification that the premature withdrawal limit under NPS has been increased from Rs 1 lakh to Rs 2.5 lakh.
- The regulator has also increased the maximum age to enter NPS from 65 years to 70 years. While the exit age limit has been reduced to 75 years.
The benefit of exemption up to Rs 2 lakh is
known that the benefit of tax exemption under section 80 CCD (1), 80 CCD (1B) and 80 CCD (2) of Income Tax is also available on NPS. Under the scheme, you can take a further exemption of Rs 50,000 apart from section 80C i.e. Rs 1.50 lakh. That is, by investing in the scheme, you can take advantage of a discount of two lakh rupees.
How to Open NPS Account
PFRDA provides One-Time Password (OTP) facility to connect with NPS. Online NPS account can be opened through e-signature without any paperwork.
- For this click on the link given below-
- Enps.nsdl.com/eNPS
- Now click on New Registration and fill your details.
- Your mobile number will be verified with OTP. Along with this, you will also have to fill the details of the bank account.
- Now select your portfolio and fund. For this, you fill the name of the nominee.
- You will also have to upload the canceled cheque, photograph and signature.
- Now you have to invest in NPS.
- After making the payment, your Permanent Retirement Account Number will be generated. Along with this, you will also get the receipt of payment.
- Now go to ‘e-sign/print registration form’ page and register with PAN and net banking.
- This will complete your KYC process.
- You will find additional information related to this on the website of NSDL.
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