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  The National Pension System (NPS) offers two types of accounts. NPS Tier 1 and NPS Tier 2. NPS Tier 1 is a compulsory pension account, while NPS Tier 2 account is an optional facility for NPS Tier 1 account holders, which can be opened at the decision of the subscriber. Let us talk about the benefits of this NPS Tier 2 account of the National Pension System.   1. Ease of opening an account   Pension subscribers can activate their NPS Tier 2 account offline or online through the nodal office or NPS mobile app. For this, all you need is an active and operational NPS Tier 1 account. The NPS Tier 2 account can be opened with an initial contribution of just Rs 1,000 and the minimum subsequent contribution for this account is just Rs 250. With the activation of an NPS Tier 2 account, the NPS account holder becomes free to invest or withdraw at any time without any limitation.   2. High Return   The NPS product is a market-linked product and depends o...

  Are you having trouble logging into your National Pension System (NPS) account online? It is possible that it has frozen. If you do not invest at least Rs 1,000 in an NPS account during a financial year, it becomes dormant. To keep NPS Tier-1 active, the annual contribution has already been reduced from Rs 6,000 to Rs 1,000. Subscribers of the National Pension System (NPS) have to pay a minimum contribution of Rs 1,000 every year, while the minimum deposit is Rs 500 per transaction. If its members do not make a minimum contribution of Rs 1,000 in the financial year, then their NPS account, as well as PRAN (Permanent Retirement Account Number), is 'freeze'. You are informed about the freeze of NPS account by email.   The user has to follow some procedure to restart the frozen NPS account.   NPS accounts can be revived during a financial year with an investment of at least 500 rupees. You can start it online either through POP-SP (Point of Purchase Service Provided) or e-...

The Pension Fund Regulatory and Development Authority (PFRDA) said on Friday that NPS account holders would be allowed partial withdrawals for treatment-related expenses of COVID19. PFRDA said in a letter addressed to all shareholders and account holders under the National Pension Scheme (NPS) that in view of the decision of the Government of India, under which COVID19 has been declared an epidemic, COVID19's decision to declare critical illness Has been done, which is mortal. The PFRDA has stated in the letter that the account holders will be allowed partial withdrawal for the treatment of the disease. This permission will be given for the treatment of account holders, their spouse, children, dependent parents if needed. PFRDA has clarified that partial withdrawal facility will not be available to the account holders of Atal Pension Yojana Scheme (APY Pension). PFRDA said that we would like to clarify that at present there is no provision for partial withdrawal of...

People generally believe that if you want to save for retirement, then you should invest in such a scheme, which is only for this purpose. But this is not true. You can save in other ways also and later it can be used in planning for retirement. Due to the presence of products like Employee Provident Fund (EPF) and National Pension System (NPS), people prefer such schemes for retirement plans. These schemes have been specifically stated to cater to the needs of retirement. There is also the benefit of tax exemption on investing in these schemes. Hence they are also called tax saving. Overall, big greed to save for retirement is also to reduce tax liability, but it is not the case that if you deposit money in a bank or in a mutual fund scheme, it can be used for post-retirement needs. Can not Like any other savings, retirement savings should also be assessed on the basis of safety, liquidity, returns and tax savings. Retirement is another major problem with traditional...