Description
National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable the subscribers to make optimum decisions regarding their future through systematic savings during their working life. NPS seeks to inculcate the habit of saving for retirement amongst the citizens.
The employees of the corporate entity, enrolled by the employer having Indian Citizenship between the age of 18-60 years and complying with the KYC norms, are eligible to be registered as subscribers under NPS.
Also popular as one of the low-cost investments with higher return benefits, NPS can be a good pick for you. The contribution can be minimal, but the higher compounding feature of these schemes helps the investor to enjoy considerable returns at the age of retirement.
- It is voluntary – A Subscriber can contribute at any point of time in a Financial Year and also change the amount he wants to set aside and save every year.
- It is flexible – Subscribers can choose their own investment options and pension fund and see their money grow.
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