National Pension System Investment Plan: If you are making an investment plan for your old age, then you must read this news. You must invest in some or the other saving plan on time, the benefits of which you get only after retirement. National Pension System is such a scheme, in which along with pension, people get a substantial amount on maturity. Under this scheme, any Indian citizen between 18 and 70 years can make his investment.
What is NPS scheme
National Pension System (NPS) is a long term investment plan. NPS is a type of contributory pension scheme. On investment in NPS, you get a lump sum fund on retirement. People investing in the NPS scheme can avail a deduction of Rs 50,000 under Section 80-CCD (1B) of the Income Tax Department and Rs 1.5 lakh under Section 80-C of the Income Tax Department. If you want to take advantage of these facilities, then you can invest in NPS Account. You can open NPS account online sitting at home.
Account opened like this
You have two types of accounts Tier 1 and Tier 2 under the National Pension System (NPS). Pension accounts are opened under Tier 1, while Voluntary Savings Account goes under Tier 2. Anyone can open an account under Tier 1. Also, the same account can be opened under Tier 2, which should already have a Tier 1 account.
Open only one account
Under NPS, any citizen can open only 1 account. To open an NPS account, you should take the help of a bank or any organization. You can also invest in the National Pension System with the help of the government website. Before opening an account, first you have to activate your PRAN.
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