Off late, the Govt of India has tried to provide Security to the unorganized sector of society through various schemes. NPS stands for New Pension System. This scheme is very useful for those who are not getting pension from their employers. Any Indian or NRI whose age is in between 18 to 55 years can open the NPS account in a listed bank. In NPS, there are two types of account are there i.e Tier-1 & Tier-2. You can do monthly contribution of starting from Rs 500/-for Tier account and in Tier-2 the monthly contribution starts from Rs 1000/-. The Fund Invested in NPS is managed by Six PENSION FUND MANAGERs. The New Pension system is controlled by Pension Fund Regulatory Development Authority (PFRDA). At the time of retirement you would be getting the lump sum 50% amount and rest amount is given on yearly basis. In NPS you would be getting a TAX Rebate up to Rs 2,00,000/-.The sample filled form and from where you can download the New Pension System (NPS) form is given below.
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