Is Short Term Volatility of Market Preventing You Investing in NPS?

摘要

Pension plans provide financial security and stability during old age when people don't have a regular source of income. NPS is a defined contribution scheme, which is a low cost, tax efficient, flexible and easily accessible and portable retirement saving account, under two Tier systems, operate from anywhere in the country with a minimum annual total contribution of ₹ 6000 for Tier I account, which is mandatory and a minimum annual total contribution of ₹2000.00 for a Tier II account, which is optional. The government pension funds, under the NPS, are managed by the SBI Pension funds Pvt Ltd, LIC Pension fund ltd and UTI Retirement Solutions Ltd, while the non- government pension funds under NPS are handled by all eight financial service providers including SBI, LIC & UTI.