ABOUT

• Catering to Unorganized Sector
• Special Focus on economically disadvantaged/marginal investors
• Ultra low charge structure
• Account Opening - Rs 35 (One Time).
• Annual Maintenance Charges (AMC) - Rs 70/Annum.
• 12 Transactions free per annum.
• Government to contribute Rs.1000 to each NPS account If :
• Subscriber is not covered under any other social security schemes like PF ,Pension – only self declaration is required
• Annual contribution to be the range of Rs.1000-Rs.12000
• NPS -Swavalamban benefit for 5 yrs

FEATURES OF NPS -SWAVALAMBAN

• Individual accounts for every subscriber
• Contribution as per convenience of the subscriber
• No mandatory monthly deposit.
• Â Recommended minimum Rs. 1000/- per annum.
• Low charge structure AMC - Rs 70 / Annum
• Account - Rs 35
• Investment by professional fund managers overseen by NPS Trust

WHO CAN JOIN

• Any Citizen of India, between 18-60 years of age
• Should comply with KYC(Know your customer norms)

HOW TO OPEN NPS - SWAVALAMBAN ACCOUNT?

• Contact the nearest branch.
• Fill up a registration form
• Provide KYC Documents
• Â Identity Proof
• Address Proof
• Minimum Contribution of Rs. 100 at the time of registration.
• Receive “Your” Permanent Retirement Account Number (PRAN) Card.

Exit / Withdrawal from NPS - Swavalamban

Exit before attainment of 60 years of age

• Subscriber would be required to invest minimum 80 % of accumulated savings(pension wealth) to purchase annuity
• Subscriber can withdraw balance 20%.

Exit upon attainment of 60 years of age

• Subscriber would be required to invest minimum 40% of accumulated savings (pension wealth) to purchase annuity
• 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

• Entire accumulated pension wealth would be payable to the nominee/legal heirs of the subscriber.

How to get Pension

• Submit the withdrawal request form at the age of retirement
• Choose the Cash/Annuity Component
• Choose your Annuity Service Provider
• Choose the type of pension required.
• Provide the Bank account details.
• Start Receiving Monthly Pension.