E-Governance, Financial, Healthcare, Insurance Services - Alankit Group

NPS or National Pension Scheme is a government initiative started in 2004 for all government employees, which is now open to everyone from 2009. The system is a government-sponsored pension scheme that allows subscribers to contribute a portion of their income in a fund for their retirement. At the time of retirement (usually 60 years of age), the pensioner can withdraw a corpus in a lump sum and use the rest of the amount to buy an annuity to supplement a regular source of income after retirement.    Benefits of National Pension Scheme: Apart from a comfortable life after retirement, there are several NPS benefits of applying to Atal Pension Yojana Scheme. Flexibility & liquidity with two different account  The NPS allows individuals to make systematic investments with either of the two account types available.  Types of Accounts under NPS are: Tier I & Tier II The Tier I account is a pension account with specific regulations...

  National Pension System (NPS) is a Government introduced security initiative to provide retirement benefits to all citizens of India, even from the unorganized sectors. The voluntary contribution scheme ensures financial security by encouraging individuals to invest regularly in a pension account during their employment period. While NPS is gradually gaining investors’ attention due to its exclusive tax benefits, it may confuse investors at the time of investing. NPS offers two types of investment accounts - Tier I and Tier II. To start investing in NPS, an investor first needs to open an account under Tier I before opening Tier II account. Similarities: Tier I and Tier II Both the investment accounts under NPS are similar. Both Tier I and Tier II have similar charges and choice of fund managers and pension schemes. The asset classes in which the Pension Fund Managers (PFMs) can make investment are also the same. 0.01% is charged on asset management and 0.0032%...