NPS is a contributory pension scheme which is highly efficient, technology driven system to savesmall amounts today, to build a fund for life's second innings. Various benefits of NPS are:


• • Simple: Subscriber is required to open an account with CSC Center near their location
• • Flexible: Subscribers can choose their own investment options and pension fund
• • Portable: Subscribers can operate their account from anywhere, even if they change the city and/or employment
• • Tax Savings: NPS allows beneficiary for tax savings as contributions made under NPS are eligible for additional tax deduction benefit on voluntary contribution of up to Rs. 50,000/-under section 80CCD (1B) which is over and above Rs.1,50,000/-u/s 80C.
• • Transparent Cost: NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and performance review of fund managers by NPS Trust.

Eligibility criteria required for the scheme are:

• • Should be citizen of India; Resident or Non-Resident
• • Age between 18-70 years, as on date of joining
• • Salaried or self-employed
• • Complies with KYC norms

Through CSCs,Individuals can contribute for retirement into this restricted-withdrawal account.

Particulars	Tier I
Option of selection of the account	Mandatory
Withdrawal facility available	Conditional & restricted withdrawal
Minimum contribution at the time of account opening	Rs. 500
Minimum amount of subsequent contribution	Rs. 500
Minimum contribution required per year	Rs. 1000
Minimum number of contributions required per year	1
Frequency of contribution permitted	Unlimited