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News18
5 days ago
- Business
- News18
An Overview of the NPS Scheme and Its Long-Term Retirement Benefits
PNNNew Delhi [India], August 7: Retirement planning is one of the most significant steps toward financial security. The sooner you plan, the better it is to create a secure future. One of the most popular options in India for retirement planning in the long run is the NPS scheme or National Pension a retirement savings scheme sponsored by the government meant to assist you in developing a financial buffer for your retirement. Let's see how it operates and why it's so Is the NPS Scheme?The NPS scheme is an optional, long-term savings plan in which you can contribute regularly over your working life. Your contributions are invested in a combination of equities, government bonds, and corporate bonds to build your retirement the time of retirement, you can avail of part of the savings as a lump sum and apply the remaining for the purchase of an annuity, which gives a monthly scheme is governed by the Pension Fund Regulatory and Development Authority (PFRDA) and hence is a safe, transparent Can Participate in the NPS?* Any Indian citizen (resident or non-resident) aged 18 to 70 years can join.* Both salaried and self-employed individuals are qualified.* It's also offered to government workers as part of their retirement is easy to open an NPS account and can be done online or directly through authorised post offices and of NPS AccountsThe NPS scheme provides two types of accounts:Tier I Account* This is the primary retirement account with tax advantages.* Partial withdrawals are permitted only in certain circumstances.* It is compulsory to hold this account up to the age of II Account* This is a savings account that is attached to Tier I.* You can withdraw funds at any time without any limitations.* It does not provide tax advantages like Tier Does the NPS Work?Your money is invested in various asset classes when you contribute to the NPS scheme:* Equity (E): Greater return but higher risk* Corporate Bonds (C): Moderate return and risk* Government Securities (G): Low risk, stable returnsYou can choose:* Active Choice: Decide the amount to be invested in each asset class* Auto Choice: The System will automatically change the allocation as per your ageThis balanced strategy helps your money grow consistently while controlling risks over Retirement Benefits of NPS* Creates a Retirement CorpusPeriodic contributions spread over several years can lead to a substantial amount of savings for your retirement requirements.* Monthly Pension for LifeA part of your NPS savings goes to purchasing an annuity plan that pays you a monthly pension during retirement.* Flexible and PortableYou can keep the same NPS account even after switching jobs, locations, or industries.* Cost-Effective InvestmentNPS has one of the lowest charges for fund management among all retirement Benefits* Contributions of up to ₹1.5 lakh qualify for deduction under Section 80C.* Another ₹50,000 exemption is provided under Section 80CCD(1B).* A portion of the maturity value is also exempt from Choose NPS for Retirement Planning?Unlike fixed deposits or basic savings accounts, the NPS plan offers market-linked growth along with long-term safety. It's best suited for:* Young working professionals seeking to begin retirement planning early* Salaried persons searching for additional tax relief* Self-employed persons lacking employer-sponsored pension schemesBy paying a small amount on a regular basis, it is possible to create a huge retirement fund in the long NPS scheme is a cost-effective and pragmatic means of making provisions for a secure retirement financially. It provides market-linked returns, tax benefits, flexibility, and a guaranteed monthly pension upon you're serious about building a worry-free future, starting an NPS account early in your career can make a huge difference. With disciplined contributions and the power of compounding, your retirement years can be truly stress-free.(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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Business Standard
6 days ago
- Business
- Business Standard
New website makes work easier for NPS users: Here's how revamp helps them
Portal simplifies navigation and improves search function for locating circulars and schemes New Delhi The Pension Fund Regulatory and Development Authority (PFRDA) has revamped its website, to make it easier for National Pension System (NPS) subscribers to use searching for documents or tracking their funds. What's new for NPS subscribers? Whether you're joining the NPS for the first time or are already a subscriber, the new website brings several enhancements aimed at improving usability. Key features include: 1. Simplified navigation with dynamic layouts and centralised access to key services 2. Faster tools access such as NPS enrolment and calculator links right on the homepage 4. Better search function to locate circulars, forms, and scheme details easily How to join NPS via the new website You can now begin your NPS journey in just a few clicks. Here's how: 1. Visit 2. Click on 'Join NPS' from the 'quick link' section on the homepage 3. You'll be sent to an external site. Click continue for it 4. Choose a Points of Presence among the options 5. Click continue to open the registration page the online registration, upload documents, and make your first contribution How to use the NPS calculator To estimate your retirement corpus and monthly pension: to the homepage of the new PFRDA site on NPS calculator under Quick links details such as your age, monthly contribution the projected corpus at retirement and the potential annuity payout Why this matters With a growing number of Indians turning to NPS for building a retirement corpus, the new PFRDA website makes essential tools and services more accessible. For users across cities and towns, especially those less familiar with digital platforms, the simplified interface could remove key hurdles in engaging with pension products. PFRDA aims to use this platform as a centralised hub for all pension-related information, regulatory updates, and public engagement.
News18
04-08-2025
- Business
- News18
PFRDA launches new website to enhance digital engagement
Agency: PTI Last Updated: New Delhi, Aug 4 (PTI) Pension Fund Regulatory and Development Authority (PFRDA) on Monday launched its new and revamped website under the project PFRDA CONNECT initiative. It was launched by PFRDA Chairperson S Ramann, the pension fund regulator said in a statement. This aligns with PFRDA's vision of promoting transparency, efficiency, and accessibility in pension sector governance through cutting-edge technology, it said. The new website has been designed and developed in accordance with Government of India's guidelines and is fully compliant with GIGW (Guidelines for Indian Government Websites) and WCAG (Web Content Accessibility Guidelines), ensuring accessibility and inclusiveness for all stakeholders, it said. The upgraded website offers an enhanced user experience, enriched content structure, intuitive navigation, and improved functionality for ease of access by subscribers, intermediaries, and the public, it said. PTI DP TRB view comments First Published: August 04, 2025, 22:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
25-07-2025
- Business
- Time of India
Pension scheme milestone: Atal Pension Yojana enrolments cross 8 crore mark, adds 39 lakh subscribers in FY26
AI image The Atal Pension Yojana (APY), the Centre's flagship social security scheme aimed at unorganised sector workers, has surpassed 8 crore total gross enrolments, the Finance Ministry said on Friday. The scheme added 39 lakh new subscribers in the current financial year so far, marking a significant expansion in its outreach. Launched on May 9, 2015, and administered by the Pension Fund Regulatory and Development Authority (PFRDA), the scheme is designed to create a universal social security safety net for Indians, particularly targeting the economically weaker sections, PTI reported. In a statement, the Finance Ministry said, 'The Atal Pension Yojana (APY), a flagship social security scheme of the Government of India administered by PFRDA, has achieved a significant milestone by surpassing 8 crore total gross enrolments with an addition of 39 lakh new subscribers in the current Financial Year (FY 2025-26) alone.' What is Atal Pension Yojana? Atal Pension Yojana ( APY) is a voluntary and contributory pension scheme that assures a guaranteed monthly pension ranging from Rs 1,000 to Rs 5,000 after the subscriber turns 60. In the event of the subscriber's death, the same pension amount is payable to the spouse, and the accumulated pension corpus is returned to the nominee after the demise of both. The scheme is open to all Indian citizens aged between 18 and 40 years, except those who are or have been income-tax payers. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Bloomberg
14-07-2025
- Business
- Bloomberg
India Pension Funds Said to Request Easier Bond Investment Rules
Indian pension managers have asked the industry regulator to ease rules that mandate the tenor of company bonds they can buy, according to people familiar with the matter. The retirement funds recently asked the Pension Fund Regulatory and Development Authority to relax a cap on purchases of corporate bonds that mature in less than three years, the people said, asking not to be named discussing private matters. They also requested permission to buy company debt rated by only one credit assessor, the people said.
