National Pension Scheme (NPS)
All citizens age from 18 years to 60 years of age, including NRIs. However, persons having an existing NPS account and government employees who are already covered under NPS cannot again open an additional account under NPS. Opening an account with NPS provides a Permanent Retirement Account Number (PRAN), which is a unique number and it remains with the subscriber throughout his lifetime. PRAN will provide access to two personal accounts: · Tier I Account: This is a non-withdrawable account meant for savings for retirement. · Tier II Account: This is simply a voluntary savings facility. The subscriber is free to withdraw savings from this account whenever subscriber wishes. No tax benefit is available on this account. For All citizens model Tier I Tier II Minimum Contribution at the time of account opening Rs. 500 Rs. 1000 Min...