Where to Open NPS Account?

Hi Buddy,

After investing in mutual funds and stocks I realised that investing in an NPS account is quite lucrative to get the post-retirement benefits. The National Pension Scheme (NPS), which was started by the Indian government, is the best retirement savings plan in the country because of its dependability, low-cost structure, tax benefits, flexibility, and strong returns. I have opened an NPS account and would like to clarify your ambiguity about where to open NPS account.

• At maturity, 40% of the NPS corpus is tax-free, while the remaining 60% is taxable.

• A minimum of 40% of the corpus must be used to purchase an annuity.

• The money used to buy an annuity is tax-free.

• Any lump-sum withdrawal is taxed at the time of withdrawal.

• Your corpus will be tax-free if you choose to withdraw 40% and purchase an annuity with the remaining 60%.

• The annuity pension is taxable according to the account holder's tax bracket.

• The total tax exemption in NPS was 1.5 lakh per year before Section 80(C) of the IT Act increased it to 2 lakh per year. After Equity Linked Savings Schemes, NPS is considered the second-best option in terms of tax savings (ELSS).

You can open it either by PFRDA or via any bank.

You can open an NPS account online or in offline mode. 

• Visit the 

and follow these procedures to open an NPS account online.

• Select 'register with Aadhaar' from the 'Registration' drop-down menu.

• Enter your Aadhaar number and select "Generate OTP."

• Your registered mobile number will receive the OTP.

• Along with your personal information, nomination information, and bank information, enter the OTP.

• Your Permanent Retirement Allotment Number (PRAN) will be assigned once your application has been successfully filed.

• The photograph that appears in the 'Photograph and Signature' tab will be the same as the one that appears in the 'Photograph and Signature' tab.

• Select 'e-signature' from the drop-down menu. An OTP will be produced and delivered to your mobile number once more.

• To authenticate your signature and make a payment, enter the OTP.

To open an NPS account offline, go to one of the PFRDA-registered Points of Presence (POPs) and pick up a registration form. POPs are banks and financial organisations that have been designated by the PFRDA to provide services to NPS clients.

These POPs handle NPS Scheme subscriptions, fund manager changes, and other NPS-related services. You must fill out basic facts in the application form and supply relevant Know Your Customers (KYC) documents, such as an Aadhar Card, a PAN Card, and proof of address.

I hope this clarifies your doubt about how and where to open NPS account. I hope this helps:)

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