Rashtriya Pension Yojana

Today, we are discussing about a scheme which is led by the Indian Government. Generally, all the people hear about this scheme but nobody knows what is this scheme actually and what are the terms and conditions, advantages of this scheme. But here we give you all the information about this scheme, what is this scheme, who are eligible for it, how can you apply for this, what are the documents which are needed for this, what are the benefits of this scheme and many other information about this.

The scheme, Rashtriya Pension Yojana is a scheme which is launched by the Government of India on January 1, 2004. The Rashtriya Pension Yojana is retirement scheme. It was introdced on January 1, 2004 to recruit the new employees(except armed forces) in the government but from May 1,2009 it is being provided to all the citizens of the country including the unorganised sector workers.

The interest rate is 12% to 14% in this scheme.

Any of the Government employee who is between 18 years to 60 years are able to have a NPS account. You can close the NPS account after the age of 60 years.

This scheme is regulated and administrated by the Pension Fund Regulatory Authority of India (PERDA).

Benefits of NPS

Some of the benefits of the National Pension System (NPS) are:

  • Every Government employee can take initiative in this step with the age of between 18 to 60 years.
  • It gives profit for investment.
  • It gives pension after your retirement which is a security.
  • It provides security for the future.
  • All the employees should have to open a bank account at their central office and get a Permanent Retirement Account Number (PRAN).

Eligibility for NPS

  • It is implemented for the people of the state.
  • The any of the government employee whose age between 18 to 60 years are eligible for this scheme and they can invest for their retirement in this scheme.
  • After the completion of your retirement (60 years of age) you can close this account.
  • You are also able to withdraw some part of the money which you invested in this scheme and you have to buy a annuity product from he remaining money. On the basis of same annuity plan, the investee gets a fixed amount of the pension.

Required documents for NPS

  • ID proof
  • Birthday certificate
  • Registration form
  • Residential Proof
  • Aadhaar card
  • PAN card
  • Photograph

How to open a NPS account

  • Visit NPS website and login your account
  • Enter your Aadhaar and PAN card number
  • Choose the type of account
  • Enter OTP for authentication
  • Filled up personal details
  • Choose pension fund manager(any eight)
  • Choose investment mode
  • Assign your nominee
  • Upload photo and signature
  • Contribute minimum amount of Rs.500.
  • Download complete form
  • Take the print out of it and stick photograph of yours and submit this within 90 days.

These are the information about this scheme. If you want any more information about any other scheme you can visit our site.