NPS account News

One of the most effective retirement schemes in India is The National Pension Scheme (NPS). It not only helps you build a substantial retirement corpus but also offers significant tax benefits. In this blog, we will guide you through the process of opening an NPS account on TrueFin, and explain how you can save up to ₹62,400 in taxes per annum.

The 75 per cent maximum on asset class E, however, is reduced by 2.5 per cent annually and transferred to government securities once a subscriber becomes 51. 

NPS started in January 2004 for govt. employees only. In 2009, it was opened to all categories of people. 60 per cent of the maturity amount will be tax-free.

The Pension Fund Regulatory and Development Authority (PFRDA) and Bank of India launched the digital platform for NPS enrolment in association with K-fintech.

The NPS encourages investors to invest in pension accounts on a regular basis. When opening an NPS account, the account holder is given two options: active or auto mode. The NPS rules require that an annuity be purchased for at least 40% of the net NPS maturity amount.

The Aadhaar-based offline paperless KYC verification "eliminates the need" to provide a physical copy of the 12-digit identifier.

In order to express their dissatisfaction about any service, there are various modes available for subscribers.

Subscribers of New Pension System can now make their contributions online through net banking, credit or debit cards with pension fund regulator PFRDA launching a platform for the same.