ABOUT
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Catering to Unorganized Sector |
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Special Focus on economically disadvantaged/marginal investors |
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Ultra low charge structure |
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Account Opening - Rs 35 (One Time). |
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Annual Maintenance Charges (AMC) - Rs 70/Annum. |
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12 Transactions free per annum. |
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Government to contribute Rs.1000 to each NPS account If : |
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Subscriber is not covered under any other social security schemes like PF ,Pension – only self declaration is required |
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Annual contribution to be the range of Rs.1000-Rs.12000 |
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NPS -Swavalamban benefit for 5 yrs |
FEATURES OF NPS -SWAVALAMBAN
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Individual accounts for every subscriber |
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Contribution as per convenience of the subscriber |
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No mandatory monthly deposit. |
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 Recommended minimum Rs. 1000/- per annum. |
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Low charge structure AMC - Rs 70 / Annum |
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Account - Rs 35 |
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Investment by professional fund managers overseen by NPS Trust |
WHO CAN JOIN
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Any Citizen of India, between 18-60 years of age |
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Should comply with KYC(Know your customer norms) |
HOW TO OPEN NPS - SWAVALAMBAN ACCOUNT?
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Contact the nearest branch. |
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Fill up a registration form |
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Provide KYC Documents |
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 Identity Proof |
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Address Proof |
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Minimum Contribution of Rs. 100 at the time of registration. |
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Receive “Your” Permanent Retirement Account Number (PRAN) Card. |
Exit / Withdrawal from NPS - Swavalamban
Exit before attainment of 60 years of age
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Subscriber would be required to invest minimum 80 % of accumulated savings(pension wealth) to purchase annuity |
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Subscriber can withdraw balance 20%. |
Exit upon attainment of 60 years of age
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Subscriber would be required to invest minimum 40% of accumulated savings (pension wealth) to purchase annuity |
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At the time of exit the effort is to give a monthly pension of Rs.1000/-. If 40% ofcorpus is not sufficient to give pension of Rs.1000/- entire pension wealth would be subject to annuitisation |
Exit due to death of subscriber
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Entire accumulated pension wealth would be payable to the nominee/legal heirs of the subscriber. |
How to get Pension
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Submit the withdrawal request form at the age of retirement |
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Choose the Cash/Annuity Component |
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Choose your Annuity Service Provider |
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Choose the type of pension required. |
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Provide the Bank account details. |
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Start Receiving Monthly Pension. |
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