INSUBCONTINENT EXCLUSIVE:
India Post allows subscribers to open new NPS account and make subsequent contributions.India Post or Department of posts, which runs postal
network of country, also offers facility of opening accounts under National Pension System (NPS)
NPS or National Pension System is defined as a contribution pension system that provides social security to all citizens of country
It is administered and regulated by Pension Fund Regulatory and Development Authority (PFRDA)
Under this system, contributions from subscribers along with matching contributions from respective governments as an employer, are
All types of service requests and exit / claim withdrawal requests are also offered, stated India Post its official
an NPS account with post office, it noted.Types of accountsThere are two types of accounts that are opened under NPS: Tier I and Tier II
Tier I is a pension account and is mandatory
Tier II is a savings account and is optional.Finance cap on NPS accountsMinimum Initial Contribution with registrationRs
500 (excluding taxes)Minimum Subsequent ContributionRs
500 (excluding taxes)Maximum ContributionsNo limitMinimum Contributions in a Financial YearRs.1,000 in Tier IMinimum transactions in a
