How to invest in SBI pension fund?

One of the most important financial aspects we need to remember is planning for retirement. If you are planning to retire within a few years you may consider investing in the NPA which is the National Pension Scheme.  NPS is a scheme that primarily focuses on retirement. After you retire, you will make a significant amount of money by investing in NPS. And, the good thing is you also get tax exemption investing in NPS. Since this scheme is very beneficial for us I will share with you how to invest in SBI pension fund scheme.

How to invest in SBI new pension scheme?

There are two types of National Pension scheme in SBI. That is Tier I scheme and Tier II scheme. Any person between the age of 18 to 60 years can invest in this scheme. 

To invest in SBI national pension scheme, you will need important documents such as:

• Aadhar Card and PAN number which is linked to the SBI account

• Netbanking facility or debit card

• Passport size photo (Scanned)

• Signature (Scanned)

• Go to the NPS website at:

• Tap on ‘registration’ and choose ‘individual’.

• Fill in your PAN/Aadhaar Number to receive an OTP on your registered mobile number.

• Select a type of account- Tier I or Tier II.

• After entering the OTP you will be able to generate the acknowledgement number.

• There will be a list of pension funds. And from here you can choose SBI Pension Fund Pvt. Limited.

• Select the mode of investment. If there is an auto mode, the equity allocation changes with age. If there is an active mode, you can decide the mix.

• Assign your Nominee(s) and provide the information of the person who will receive the fund after the investor’s death.

• If you are not using your Aadhar card you will need to upload a passport-size photo and if you have used your Aadhar card you need to upload the signature only.

• After this, you need to contribute to your NPS account and receive the PRAN. The minimum amount for Tier I is Rs. 500 and the minimum amount for Tier II are Rs. 1,000. After receiving the PRAN by paying for the NPS account you can take a printout of the form and mail the form within 90 days to the CRA office.

I hope you know the process to invest in SBI pension fund scheme.

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