NPS Fund Managers

INDmoney(POP) incurs the following charges for opening and maintaining your NPS account:

Additionally, below are the charges incurred by NSDL (a central record keeping agency appointed by PFRDA) for managing your NPS account.

The National Pension Scheme (NPS) is open to:

• Any Indian Citizen (resident or non-resident) and Overseas Citizen of India (OCI)
• Individuals aged between 18-65 years
• Those compliant with Know Your Customer (KYC) norms

However, Hindu Undivided Families (HUFs) and Persons of Indian Origin (PIOs) are ineligible for NPS subscriptions. NPS operates as an Individual Pension Account and cannot be opened on behalf of a third person. The applicant must be legally competent to execute a contract as per the Indian Contract Act.

Please note: With INDmoney, NPS account opening is exclusively available for Resident Indians.

Tax benefits under NPS include:

• Tax benefit of up to 10% of the basic salary + DA under section 80 CCD(1) within the cumulative Rs. 1.5 lakh limit under section 80C.
• Additional deduction benefit of Rs. 50,000 under 80CCD (1B).

NPS contributions to Tier I and Tier II accounts have specific minimum thresholds without an upper limit for contributions. Failure to contribute can result in an account freeze, requiring payment of the total minimum contributions for the freeze period to unfreeze the account.

Note: As of now, with INDmoney, Tier II account investments are not available.

Yes, EPF/PPF individuals can voluntarily subscribe to NPS along with any other pension scheme(s). However, an individual cannot possess multiple NPS accounts.

NAV will be applicable of the date on which funds are received by the Pension Funds (within the cut-off time). The expected NAV date on your order would be 2 business days after your payment completion.

Subscriber is allowed to register up to three nominees in NPS. Yes, a minor can be a nominee. In such cases, Subscriber will be required to provide guardian's details and date of birth of the minor.

There is a minimum lock-in period of 3 years for NPS investment. After completion withdrawal from the NPS account follows specific conditions:

Normal Withdrawal (at retirement):

At the age of 60 (if joined before 60), 60% of the corpus can be withdrawn as a lump sum, and a minimum of 40% must be used for purchasing an annuity plan. If the corpus is less than ₹2 lakhs, the entire amount is paid as a lump sum.

Withdrawal before retirement.

• Partial Withdrawal: After 3 years, up to 25% of contributions can be withdrawn for specific reasons such as illness, disability, education, marriage, property purchase, or starting a venture. This can be done thrice during the tenure in NPS.
• Premature Withdrawal: After 5 years, up to 20% can be withdrawn as a lump sum, and a minimum of 80% must be used for an annuity plan. If the corpus is less than ₹2.5 lakh, the entire amount is paid as a lump sum.
• In case of death: Nominee/legal heir can withdraw the entire corpus or purchase annuity.

• Visit the "Help Center" from your profile or click the "Help Center" button (bottom right) on the Dashboard.
• Select the "NPS" section and choose the relevant topic or raise a ticket if needed.
• For direct contact, refer to the provided email address.

Email: 

All complaints will be handled following applicable PFRDA Regulations. An acknowledgment will be sent within 3 working days, along with a unique reference number for future communication. Efforts will be made to address concerns within 30 days.

If there's a delay in the Turnaround Time (TAT) benefit redressal, you can escalate concerns to the Central Grievance Management System (CGMS). Alternatively, you may register your complaint directly with the NPS Trust.