NPS is a pension scheme regulated by the Pension Fund Regulatory & Development Authority (PFRDA) for a regular contribution towards the building of the retirement corpus in a systematic manner. It is supported by the Government of India. This scheme can be availed by any Citizen of India including Non-Resident Indian (NRI) between the age group of 18 years to 65 years except OCI, PIO and HUF.
Housing Development Finance Corporation Limited (HDFC Limited) is registered as a Point of Presence (POP) with the PFRDA and HDFC Sales Private Limited, a wholly-owned subsidiary of HDFC Ltd. is registered as Point of Presence Sub Entity (POP-SE), to act as the first interaction between the subscriber and the NPS architecture.
The contribution can be made by you upon opening an account with HDFC Limited. The account opening process can be completed by submitting the application form along with the list of documents. A Permanent Retirement Account Number (PRAN) will be allotted to you through which you can start contributing to the NPS scheme to accumulate the corpus for retirement during working life. On retirement a portion of the accumulated corpus needs to be invested in the Annuity to get monthly pension.
Reference to the list of documents
Your contributions are pooled in a pension fund and the savings are managed by professional fund managers. HDFC Pension Management Company Limited, invests in diversified portfolios - government bonds, bills, corporate debentures, shares etc. These contributions would grow over the years and depend on the investment type, returns are earned.
The National Pension System provides the subscriber with 2 types of accounts:
Click here to download the brochure containing details on types of accounts, investment choices, exit details, withdrawals, tax benefits, charges, etc.
Click here to download the registration form for subscribing to NPS schemes.
HDFC Sales is not an Investment Advisor and does not provide any investment or financial planning advice. National Pension System (NPS) is administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA) created by an Act of Parliament. The information provided on our website is for informational purposes only and it should not be considered as financial advice. Please consider your specific investment requirements before choosing any investment or designing a portfolio that suits your needs. HDFC Sales is merely acting as a Point of Presence (sub-entity) for the NPS.