How to open an NPS Tier II account

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How to open an NPS Tier II account • How to Activate an NPS Tier II account • NPS tier II account activation • NPS tier 2 activation procedure • Online • Let us see how it is done online : • Step 1: Visit the electronic National Pension system (eNPS). Click on “Tier II activation” tab. Here, you can also view this in Hindi or English language. • Step 2: After clicking on Tier II activation, a window opens which asks for details like Permanent Retirement Account Number, Date of Birth and PAN. • Here, one has to click on “Verify PRAN”. Once this PRAN is verified with the Tier I account details, his Tier II account will be activated. • Offline • Any person (subscriber), who has an active Tier I account can apply for a Tier II account. • The person has to follow the following steps to apply offline: • i. The Tier II account has to be opened through the “Subscriber’s POP-SP”. • ii. The applicant needs to download the Annexure 1: Tier II Details form and send it duly filled to the POP-SP. You will find this form under the ‘Subscriber Registration’ section. • iii. Also, you must provide your bank account details to open a Tier II account because any withdrawals will be directly transferred to your bank account. • Points to remember before opening a Tier II account • i. Note that a Tier I and Tier II account can also be opened together by submitting a composite application form. • ii. One can withdraw any amount from the Tier II account at any time without paying any penalty. • iii. Any contribution made towards Tier II accounts are not eligible for 80C deduction. • iv. Minimum amount mandatory for opening an NPS Tier II is Rs. 1000. • Read more about the National Pension System and see how it compares to other tax-saving investments that you can make under Section 80C. • The National Pension Scheme regulated by PFRDA is a pension program, a social security initiative by the Central Government. This scheme is open for all Indian citizens on a voluntary basis. Everyone registering under NPS will have a Tier 1 account by default. The citizens can voluntarily opt for having an NPS Tier II account. • Tier I account is the default account that gets opened when you open an NPS account. Tier II, on the other hand, is a voluntary account. When you invest here, it gets invested in different funds – similar to a mutual fund. There is no lock-in period, which means the account holder can withdraw the money any time. The Tier II account is useful for those who want to make additional contributions to existing NPS, and build a huge corpus towards retirement. • You also have an option to choose the category of funds where investments can be made. However, only 50% of the amount can be invested in equity funds. If you don’t choose, the fund automatically selects instruments based on your income, age and risk profile. • For Share, Support, Subscribe !!! • Subscribe: / onlineeducationguruji • Youtube Video : • How to open an NPS Tier II account • Twitter: / sspatelg • Facebook: / sspatelg

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