What is NPS National Pension System Retirement Planning Tips by Yadnya

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NPS (National Pension System) is a defined contribution based Pension Scheme launched by Government of India with the following objectives - To provide old age income, reasonable market based returns over long run and extending old age security coverage to all citizens. • • NPS, India's answer to the US' retirement scheme- 401(K)-is a government-approved pension scheme for Indian citizens in the 18-60 age group. While central and state government employees have to subscribe mandatorily, it's optional for others. • • 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. • Two things that make NPS a genuine pension scheme are restrictions on withdrawal from Tier-I account and the rule that a part of the Tier-I corpus at the end of the tenure has to be used to buy annuity, which gives regular payments in lieu of a lump sum. • Find us on Social Media and stay connected: • Facebook Page - / yadnyaacademy • Facebook Group - https://goo.gl/y57Qcr • Twitter - / investyadnya

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