PFRDA - New Pension Scheme (NPS)
NPS is open to every Indian citizen. You can choose the amount you want to set aside and save every year. The new pension system would be based on defined contributions. It will use the existing network of bank branches and post offices etc.
You have to do is open an account with any of Points of Presence (PoP) and get a Permanent retirement Account Number (PRAN). This scheme mostly proposed MFs retired people.
The New Pension Scheme to the organized and unorganized sectors from April 1 this year had kindled hopes among asset management companies (AMCs) of bolstering their business at a time when they have been coping with a poor appetite for equity offerings and playing second fiddle to insurance companies.
The new releases of PFRDA site is Primary Information Memorandum (PIM) and Expressions of Interest (EOI) Package - Appointment of Pension Fund(s) under the New Pension System(NPS). Advertisement for Inviting Expressions of Interest (EOI) - Appointment of Pension Fund(s) under the New Pension System(NPS).
State and District wise list of Bank of India's Branches authorised to collect NPS contribution. List of State Bank of India's Branches having correspondent banking arrangement with Bank of India.
NPS is Flexible: You can choose your own investment option and Pension Fund and see your money grow.
NPS is Portable: Operate your account from anywhere in the country, even if you change your city, job or your fund manager.
NPS is safe: NPS is regulated by PFRDA. Your money will be monitored by the Pension Fund Regulatory and Development Auhtority (PFRDA).
