National Pension System [NPS]
PMFS offers tailored National Pension System (NPS) to secure your future. Enjoy tax benefits, retirement security, and personalized investment strategies. With expert guidance, we help grow your wealth and achieve your financial goals.
National Pension System (NPS)
The National Pension System (NPS) is a government-backed retirement savings scheme in India, introduced in 2004 for government employees and extended to all citizens in 2009. It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
Features
- Voluntary Contribution: Open to all Indian citizens aged 18-70 years
- Defined Contribution Scheme: Individuals invest regularly in a pension account during their working life
- Market-Linked Returns: Investments are managed by professional pension fund managers, with exposure to equity, corporate debt, and government bonds
- Tax Benefits: Contributions to NPS qualify for tax deductions under Section 80C and 80CCD(1B) of the Income Tax Act
- Retirement Corpus and Annuity: At retirement, you can withdraw up to 60% of the corpus tax-free and the remaining 40% is used to purchase an annuity for a regular pension
