NPS members can now make the payment online also through net banking, from credit card or debit card. To make the payment online PFRA has issued an online platform also. First of all try to understand what is NPS. NPS stands for National Pension System. It is regulated by PFRDA (Pension Fund Regulatory body).In this there are two type of accounts. One is Tier-1 and other is Tier-2. It is a pension plan, where you are getting an addition tax benefit of Rs 50,000/- apart from tax benefit under section 80 C which is of Rs 1,50,000/-.
NPS member can make payment online and open online Nation Pension System account through Ten Banks.
If you are not the member of Nation Pension System and you want to join the Nation Pension System. You can join it in a very easy way by simply applying online on the Nation Pension System site at www.npstrust.org.in. Once you have applied and completed the formality, you would become the member of Nation Pension System. After that you can make contribution into your permanent retirement account. Apart from this you can make contribution from your EPF account also.
PAN replaces Aadhaar card:
According to PFRA chairman Mr. Hemant now if you want to open a Nation Pension System account through online you can open the account by the help of PAN card. Previously if you want to open the account you are supposed to produce Aadhaar card. Once the PAN card and bank KYC get verified your Nation Pension System account can be opened through online process. This was done after the decision of Supreme Court came on Aadhaar card.
Ten banks can do NPS online payment:
You can make the Nation Pension System payment online and open account with by ten banks. Those banks are listed below:
- State bank of Patiala
- Oriental bank of Commerce
- Syndicate bank
- State Bank of Travancore
- South Indian bank
- United bank of India
- Allahabad Bank
- Bank of India
- Bank of Maharashtra
- State Bank of Hyderabad
Online Query Solutions Also:
According to PFRA chairman due to this online process of Nation Pension System, it will reach to a large number of people. Apart from this the members would be getting the online query solutions also to their problems. As per the PFRDA update on dated 31 Oct, 2015 there are total 93,80,174 people are connected with NPS account.