National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme. It is an attempt towards finding a sustainable solution to provide adequate retirement income to every citizen of India.

NPS is regulated by PFRDA, with transparent investment norms, regular monitoring and performance review of fund managers by NPS Trust.

Who can Invest

Any individual between the age of 18 to 65 years including NRIs can invest in NPS.

Account Type

Tier - I is a mandatory and non-withdrawable account aimed at building a corpus for retirement. You can withdraw from this account subject to conditions prescribed by PFRDA. Investment made in Tier I account is eligible for tax deduction.

Tier - II is an optional account and provides liquidity by allowing anytime withdrawal facility.

It is a voluntary savings facility available as an add-on to a Tier-1 account. You can open a Tier II account along with Tier I account or any time after opening Tier I account. However, to open a Tier II account you must have an active Tier I account. Investment made in Tier II account is not eligible for tax deduction.