National Pension Scheme (NPS) is the initiative by Govt. of India where any person in the age group of 18-60 years can take benefit. Under this, the person can start saving and make a life after retirement secured by the money he/she saved. The scheme is designed in two types. Type one allows the user to open an account but cannot use the money before retirement and the other one allows the user to use some money before retirement. As the health and sanitation services are getting better day by day life expectancy is getting longer and according to UNO the retirement age will soon get 75 from 65 by 2050. Result will be more living cost, inflation and various other factor. So, to avoid later problems NPS is in action.
Benefits of National Pension Scheme:
- Tax Benefits: By depositing the money in the NPS account user gets tax benefits.
Eligibility for National Pension Scheme:
The prime eligibility requirement is that any person willing to get the scheme must be in the age group 18-60 years. Its voluntary act where whoever wants to get enrolled has to approach nearest nationalized banks.
Document required for the scheme
- Complete application form.
- Proof of identity.
- Proof of address.
- Age/date of birth proof.
Whom to contact and where to contact for getting benefits of Jawaharlal Nehru National Urban Renewal Mission.
- Any nationalized banks.
Online Form to enroll for the scheme:
Forms are available at all nationalized banks. To get online form https://retail.onlinesbi.com/sbi/downloads/NPS_AOF.pdf
To know more about the details and FAQs visit the link