What is NPS?

National Pension Scheme (NPS) is a retirement benefit scheme introduced by GOI (Government of India) to facilitate a regular income post retirement to all the subscribers. It is a voluntary and a long-term investment plan for retirement under the purview of PFRDA (Pension Fund Regulatory and Development Authority) and Central Government.

How to Pledge?

Start investing and continue every year until you turn 60 years of age

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Retirement age. Withdraw up to 60% of the corpus tax-free and invest rest for regular income

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Enjoy monthly pension for a stress-free retirement

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Charges related to Tier-I account can be borne either by Corporate/Employer or Subscriber, at the discretion of Corporate.

Intermediary

Charge head

Service Charges*

Method of Deduction

Point of Presence

Subscriber registration

₹ 400

To be collected upfront

 

Initial Contribution

0.5% of contribution amount Minimum ₹ 30/- Maximum ₹ 25000/-

 
 

Subsequent transactions

  
 

Non-Financial transactions

₹ 30

 
 

Processing of withdrawal / exit

0.125% of corpus Minimum ₹ 125 Maximum ₹ 500

 

Central Recordkeeping Agency

Account Opening charges (One Time)*

NSDL ₹ 40
Karvy ₹ 39.36

Through cancellation of units

 

Account Maintenance Charges (Per Annum)

₹ 69
₹ 57.63

 
 

Charge per transaction (Financial /Non-Financial)

₹ 3.75
₹ 3.36

 

Pension Fund

Investment Management Fee

0.0467% - 0.09%

Adjustment in NAV of Scheme

NPS Trust

Reimbursement of Expenses

0.005 % p.a. of Assets Managed

 

Custodian

Asset Servicing charges

0.000000001770% p.a. of assets in custody

 

* In case a subscriber opts not to have a physical PRAN Card or Welcome Kit, reduced account opening charges of CRA are applicable as under:

CRA

Account opening with Physical PRAN card (in ₹)

Account opening with ePRAN card (in ₹)

NSDL eGov

40.00

35.00

18.00

Kfintech

39.36

39.36

4.00

 

Grievance Redressal Officer (GRO) details:

GRO NameKanti Pal
GRO Email IDkanti.pal@bajajfinserv.in
GRO Phone No.9226046484

Escalation Matrix

Level

Name

Email ID

1st Level

NPS Support

npsconnect@bajajfinserv.in

2nd Level

Ajay Gode

ajay.gode@bajajfinserv.in

3rd Level

Prateek Singh

prateek.singh@bajajfinserv.in

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Frequently Asked Questions

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Who can Join NPS?

Answer Field

Any citizen of India, whether resident or non-resident, subject to the following conditions: - Individuals who are aged between 18 – 60 years as on the date of submission of his/her application to the POP/ POP-SP. The citizens can join NPS either as individuals or as an employee-employer group(s) (corporates) subject to submission of all required information and Know your customer (KYC) documentation. After attaining 60 years of age, you will not be permitted to make further contributions to the NPS accounts.

How to withdraw the benefits available under NPS?

Answer Field

The subscriber wishing to exit from NPS has to submit a withdrawal application form to the concerned POP along with the documents specified for withdrawal of the benefits and the POP in turn would authenticate the documents and forwards them to CRA M/s NSDL. CRA in turn would register your claim and forward you the necessary application form along with the procedure to be followed and documents that need to be submitted. Once the documents are received, CRA processes the application and settles the account.

What is the difference between Active Choice and Auto Choice?

Answer Field

The NPS scheme allows you to diversify your portfolio between equity and debt instruments and offers its subscribers two approaches to invest.

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