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Old July 27th, 2016, 05:22 PM
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Join Date: May 2011
Default Re: NPS State Bank of Patiala

The New Pension Scheme (NPS) has been introduced by Government of India to give pension benefits to the common man specially those who are self employed such as shopkeeper and professionals and those in the unorganized sector.

One can regularly invest in the scheme and can get a lump sum amount at the time of retirement, while also being assure of a fixed monthly income for the remaining lifetime as per schemes detailed hereunder:-.

Benefits –

-It is voluntary and is open to every Indian citizen.

-It is simple

-It is flexible

- It is portable

- It is regulated by Pension Fund Regulatory & Development Authority (PFRDA), with transparent investment norms and regular monitoring and performance review of fund managers by NPS Trust.

Eligibility Criteria:

Any person between age group of 18 years to 60 years can join this scheme.


Persons not eligible to open account under NPS –


The following applicants cannot join:

1. Undischarged insolvent

2. Individuals of unsound mind

3. Pre-existing account holders under NPS.


Charges:

(a) Subscriber registration (opening of new account) : Rs.100+service tax

(b) Initial subscription :0.25% of amount subscribed, subject to minimum Rs. 20 and maximum Rs. 25000(plus service tax in every case)

(c) Subsequent subscription: same as in case of initial subscription

(d) Other transactions: Rs. 20 plus service tax.



For More information and here I am attaching a PDF file containing the information related to this Scheme:
Attached Files Available for Download
File Type: pdf NPS State Bank of Patiala.pdf (547.1 KB, 4 views)
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