New Pension System

New Pension System:

• Regulated by PFRDA, a Prudent Regulator created by Government of India.
• Funds are managed by funds managers from Public & Private sector with proven track record.
• Stock Holding Corporation of India Ltd, functions as custodian for NPS.
• 12-digit unique number called PRAN (Permanent Retirement Account Number).

Eligibility:

• Indian Citizen
• Between age of 18 and 65
• KYC compliant
• Must not have pre–existing NPS account.
• Any employee from public, private and even the unorganised sectors can opt for this.
• Personnel from the Armed forces are not allowed.