National Pension System (NPS) is a government-sponsored pension scheme. It was launched in January 2004 for government employees. However, in 2009, it was opened to all sections. The scheme allows subscribers to contribute regularly in a pension account during their working life. On retirement, subscribers can withdraw a part of the corpus in a lumpsum and use the remaining corpus to buy an annuity to secure a regular income after retirement.

Investors get benefit under Section 80CCD (Maximum Limit - Rs 50,000/-) of the Income Tax Act.

Any Indian citizen between 18 and 60 years can join NPS. The only condition is that the person must comply with know your customer (KYC) norms.

What is a Permanent Retirement Account Number (PRAN)?

What are Tier-I and Tier-II accounts?

What is the minimum contribution in NPS?

What will happen if I don’t make the minimum contribution?

What are the investment choices available in NPS?

Can I change my investment choices?

What are the tax benefits available for NPS?

When can I withdraw money from NPS?

What happens to the money if I discontinue the scheme?

Who manages the money invested in NPS?