B. Subscriptions to NPS All Citizen Model
Opening an NPS account
An NPS account can be opened through
- Points of Presence (PoP) registered with PFRDA in Online or Physical mode. Point of Presence (PoPs) is the distribution channel and the first point of contact for applicants and subscribers. PoPs are mandated to provide services related to Subscriber Registration (Collection of forms and KYC verification), receiving/uploading contributions, processing subscriber requests for updation of account details, exercising choices, withdrawals, grievances resolution etc.
- Online platform (eNPS) of CRA,s Central Record Agencies.
Subscribers of EPF / PPF / Superannuation Fund / Provident Fund are eligible to join NPS
NPS can be voluntarily subscribed along with any other pension scheme(s). However, an individual cannot have multiple NPS accounts.
Choices available while investing in NPS.
The following choices are to be exercised by the applicant:
| Choice | Function | Refer |
|---|---|---|
| Point of Presence | Service Provider | https://www.pfrda.org.in/index1.cshtml?lsid=181 |
| CRA | Record-keeper | https://www.pfrda.org.in/index1.cshtml?lsid=165 |
| Pension Fund | Fund Manager | https://www.pfrda.org.in/index1.cshtml?lsid=182 |
Investment Choice - Asset allocation pattern
| https://www.pfrda.org.in/index1.cshtml?lsid=1097 | |
Investment guidelines for Pension Funds Managers in NPS
The contributions are invested by Pension Funds according to the investment guidelines prescribed by PFRDA for each asset class.
- Asset class E: Equity shares of companies traded in Futures and Options segment
- Asset Class C: Corporate Bonds / Debentures which are listed and rated not below A
- Asset Class G: Government securities and State Development Loans
- Asset Class A: Alternate Assets
For detailed investment guidelines refer to the Circulars Section of PFRDA website.
The best time to start NPS is the day you decide you want one.
The sooner you start, the more compounding gains you make! Isn't that wonderful?
