NPS retirement investment with Sharepa: Free account, best returns, secure your future.
The National Pension Scheme (NPS) is a voluntary, long-term retirement savings scheme initiated by the Government of India. It was introduced in January 2004 for all Indian citizens, including employees from the public, private, and unorganized sectors, with the aim of providing them with a sustainable income during their retirement years.
NPS is regulated and managed by the Pension Fund Regulatory and Development Authority (PFRDA), which is an autonomous body established by the Government of India.
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Frequently Asked Questions about NPS
What is NPS?
National Pension System (NPS) is a retirement savings scheme that was launched by the Government of India in 2009. It is a voluntary retirement savings scheme that allows you to save for your retirement in a tax-efficient manner.
Key features of NPS
- Retirement savings scheme: NPS is a voluntary retirement savings scheme that allows you to save for your retirement in a tax-efficient manner.
- Market-linked scheme: Your returns will depend on the performance of the underlying assets.
- 3 investment options: You can choose from 3 different investment options: Tier I, Tier II, and NPS Lite.
- Tax-free returns: The returns from NPS are tax-free.
Who can join NPS?
Any Indian citizen who is between the ages of 18 and 60 can join NPS. However, there are some exceptions, such as government employees who are already covered under a government pension scheme.
What are the different NPS options?
There are three different NPS options available:
* Tier 1: This is the basic NPS option and is mandatory for all government employees who join NPS.
* Tier 2: This is an optional NPS option that is available to all citizens.
* Tier 3: This is an additional NPS option that is available to all citizens.
What are the investment options under NPS?
There are five different investment options available under NPS:
* Equity: This option invests your money in equity funds.
* Corporate bonds: This option invests your money in corporate bonds.
* Government bonds: This option invests your money in government bonds.
* Balanced funds: This option invests your money in a mix of equity and debt funds.
* Conservative funds: This option invests your money in a mix of government bonds and money market instruments.
What are the tax benefits of NPS?
There are several tax benefits available under NPS:
* Your contributions to NPS are eligible for tax deduction under Section 80C of the Income Tax Act.
* The interest earned on your NPS investments is tax-free.
* The maturity amount of your NPS investments is tax-free, subject to certain conditions.
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