NPS-Lite Swavalamban Yojana


NPS Yojana

The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the National Pension System-Lite (NPS-Lite) with effect from April 01, 2010. PFRDA has appointed NSDL e-Governance Infrastructure Limited as Central Recordkeeping Agency (CRA) for NPS-Lite. CRA is the first of its kind venture in India which will carry out the functions of Record Keeping, Administration and Customer Service for all subscribers under NPS - Lite.

The NPS-Lite is basically designed with the intention to secure the future of the people who are economically disadvantaged and who are not financially well to do. Towards this endeavor NSDL has developed a NPS Lite system on a low charge structure. The servicing model is of NPS Lite is based on group servicing. The people forming part of this low income groups will be represented through their organizations known as Aggregators who would facilitate in subscriber registration, transfer of pension contributions and subscriber maintenance functions. Subscribers in the age group of 18 to 60 can join NPS - Lite through the aggregator and contribute till the age of 60.


Todkari Corporate & Financial Services Pvt. Ltd. is a registered NLSA of UTI Infrastructure Technology & Services Limited with Registration No. 6700825.

Pension Fund Regulatory and Development Authority (PFRDA) established by the Government of India now extends NPS to all citizens of India. Through the National Pension System(NPS), Government aims to fulfill the mission that every citizen should live a peaceful retired life should be financially independent and for that a person must plan and save a small part of his/her earnings over the working life so as to take care of the rainy day.


OBJECTIVES

Resource of Income after age 60
Good returns over the long term
Old age security for life time

WHO CAN JOIN

A Citizen of India, whether resident or non-resident between the age of 18 and 60 (as on the date of submission of application) can join the scheme.

DOCUMENTS REQUIRED FOR ENROLLMENT IN NPS

(a) Residential Address Proof
(b) Identity Proof
(c) Date of Birth Proof / PAN Card
(d) 1 Passport Size Photograph

Documents List


Document Acceptable As Proof Of Address, Proof Of Identity
Proof of Address Proof of Identity
1.Electricity bill

2.Telephone bill

3.Depository Account Statement

4.Credit Card Statement

5.Employer Certificate

6.Bank Account Statement/Passbook

7.Rent Receipt

8.Property Tax Assessment Order

9.Ration Card

10.Passport

11.Voter’s Identity Card

12.Driving License

13.Certificate of address signed by a Member of Parliament or Member of Legislative Assembly or MunicipalCouncilororaGazettedOfficer.

1.School Leaving Certificate

2.Matriculation Certificate

3.Degree of Recognized Educational Institution

4.Depository Account Statement

5.Bank Account Statement/Passbook

6.Credit Card

7.Water Bill 8.Ration Card

9.Property Tax Assessmen tOrder

10.PAN Card

11.Passport

12.Voter’s Identity Card

13.Driving License

14.Certificate of address signed by a Member of Parliament or Member of Legislative Assembly or MunicipalCouncilororaGazettedOfficer.

Note :-

Subscriber is required to bring original documents (Originals will be returned over-the counter after verification) Proof of Address mentioned in Sr.No.1to7 should not be more than six months old on the date of application


PERMANENT RETIREMENT ACCOUNT NUMBER (PRAN)

On enrollment, subscribers will get a unique Permanent Retirement Account Number (PRAN).



INVESTMENT CHOICE
The NPS offers to the subscriber two approaches to invest their money:


  • Active Choice: In this, the subscriber can choose the investment mix between Equity (‘E’ Class which has high risks and high returns) which shall not be more than 50%, Corporate Bonds (‘C’Class which has medium risks and medium returns) and Government Bonds (‘G’ Class which has low risks and low returns).
  • Auto Choice: Lifecycle Fund: In Auto Choice, the Investment mix shall change according to the Age of the Subscriber. From the entry age of 18 years to 35 years, auto choice investment entails investment of 50% in Equity (‘E’ Class), 30% in Corporate Bonds (‘C’ Class) and 20% in Government Bonds (‘G’ Class). With advancing age, the investments in Equity Class and Corporate Bonds shall fall and that in Government Bonds shall rise. Under NPS, two types of accounts are available viz.
  • Tier I Account: A NON-WITHDRAWABLE account for building a retirement corpus (till age 60)

    Tier II Account: A voluntary savings facility, providing liquidity to subscribers (Withdrawal Facility, just like a saving bank account).

How different is NPS - Swavalamban from other products like savings in the bank?


NPS - Swavalamban is a pension product to ensure a monthly income after the retirement age has been attained.
NPS - Swavalamban invests a portion of the contributions in the equity (stock) market and hence there are possibilities of returns
much higher than what banks & similar financial institutions are able to offer. A portion of the corpus is invested in
equity markets which enables the corpus to grow quickly. However, unlike other equity based investment schemes where risk
of losing the money is high, in NPS - Swavalamban; the risk is reduced considerably as up to 55% of money is invested in
Government securities and up to 40% in corporate bonds.


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