• Eligibility

• Types of National Pension System accounts

• Download Forms

• Options at Retirement

• KYC Requirements

Eligibility

Eligibility

Applicants must be:

• Citizens of India
• Between 18 to 70 years
• KYC compliant
• Without pre-existing National Pension System Account.

Types of National Pension System accounts

Types of National Pension System accounts

Tier I:

Contributions done to this account are eligible for an additional tax deduction benefit of up to ₹ 50,000/- u/s 80CCD (1B), over and above ₹ .1,50,000/- u/s 80C. 60% of the invested amount can be withdrawn on completing 60 years and the rest will be used to provide annuity.

Tier II:

One can invest an additional amount in Tier II National Pension System Account. This amount can be entirely withdrawn at any point of time. No tax benefits are available in this account. Kindly note that in order to open a Tier II account, it is mandatory to open a Tier I account first.

A subscriber can invest in both types of accounts under One Permanent Retirement Account Number (PRAN).

Minimum contribution
Tier I - ₹ 500/- Tier II - ₹ 1000/-

Minimum subsequent contribution amount required
Tier I - ₹ 500/- Tier II - ₹ 250/-

Minimum contribution required per year
Tier I - ₹ 1000/- Tier II - NIL

Minimum contributions required in a year
Tier I - ONE Tier II - NIL

Download Forms

• National Pension System A/C Opening Form
• NRI National Pension System A/C Opening Form
• Modification Form
• Pension Fund manager change request Form
• Inter Sector Shifting Form
• Nach Debit Registration
• National Pension System A/C opening for company
• POP change for Corporate
• Partial Withdrawal
• Premature exit
• Exit from NPS due to death
• CKYC Form

Options at Retirement

KYC Requirements

1. Copy of Operative PAN (Mandatory, and linked with Aadhaar), verified with original
2. CKYC number (if not available, CKYC number should be made available within 10 days of PRAN activation)
3. Recent photograph of subscriber AND
4. Copy of one of below OVD (Officially Valid documents), verified with original alongwith In-Person Verification stamp and sign by branch official,
   • The passport
   • The driving licence
   • Proof of possession of Aadhaar number,
   • The Voter's Identity Card issued by Election Commission of India,
   • Job card issued by NREGA duly signed by an officer of the State Government and
   • The letter issued by the National Population Register containing details of name, address,or any other document as notified by the Central Government in consultation with the Regulator.

Escalation Matrix: