• Under NPS, an individual's savings is pooled in a pension fund.
• These funds are invested by Pension Fund Regulatory and Development Authority (PFRDA) regulated professional fund managers as per the approved investment guidelines in the diversified portfolios comprising of government securities, corporate debt and equity shares.
• These contributions would grow and accumulate over the years, depending on the returns earned on the investment made.
• All citizens from 18 years to 60 years of age, including NRIs can invest in this fund.

The scheme offers two kinds of accounts - a compulsory Tier-I account and a voluntary Tier-II account. One can open a Tier-II account only if one has an active Tier-I account. While Tier-I is a basic pension account with restrictions on withdrawal, Tier-II is a voluntary savings option from which a person can withdraw money freely.

At the time of normal exit from NPS, the subscribers may use the accumulated pension wealth under the scheme either to purchase a life annuity from a PFRDA empanelled life insurance company or withdraw a part of the accumulated pension wealth as lump-sum, if they choose to do so. Apart from this, the budget has proposed an additional deduction of Rs 50,000 if you invest in NPS under Sec 80CCD (1B).

Eureka has been appointed by PFRDA to act as one of the Point of Presence (POP) for NPS distribution.

The following documents need to be submitted to us for opening of a NPS account:

• Completely filled in subscriber registration form
• Proof of Identity (Passport, Voter ID, Driving Licence, Pan Card, Aadhar card, etc.).
• Proof of Address (Passport, Voter ID, Ration card, Driving Licence, Bank Pass Book, Aadhar card, Latest electricity Bill, Latest telephone bill, etc.).
• Age/ Date of birth proof.

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