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Portability – NPS does not have any physical boundaries. An account opened in any state of India can be accessed from all over the nation. NPS business account is transferable between employers.
Flexibility – NPS gives the subscriber the elasticity to choose the Fund Manager, Investment Option, Annuity Service Provider, etc. This gives you the control over your savings.
Cost-Effective – NPS is presently one of the cheapest investment products available.
Voluntary – NPS is voluntary product for citizens of India. Only for central and state Government employees, NPS is compulsory under the permanent contribution plan.
Subscriber can register for NPS via the online application way from the handiness of their house / place of work. The major purpose of the scheme is to provide all citizens of India with an lucrative long term savings to plan for retirement through secure and practical market based returns. The account can be opened by all Indian Citizens between 18 to 60 Years.
Low-priced retirement Scheme --Your annual fees are lower priced than your investment.
Better returns than traditional options --A mix of stocks & FD-like investments results in a bigger bank balance
Unique way to reduce risk --Automatically increases allocation to FD-like investments as you reach closer to retirement
Managed by professionals. --Your money is invested & managed by India's best pension fund managers
Enforces investment discipline --Your investment is locked-in until you turn 60 years. Plus, a minimum yearly investment of Rs.1,000 is compulsory