Services
Corporate Model
The corporate sector refers to that part of the economy composed of corporations, which are legally recognized entities that exist separately from their owners (shareholders) and are formed to conduct business activities. These entities are also commonly known as companies or businesses.
All Citizens Model
All Citizens Mode” in the context of the National Pension System (NPS) in India. The NPS primarily has two main sectors: Tier-I and Tier-II accounts, catering to both government employees and citizens.
Retirement Model
The retirement model under the National Pension System (NPS) is a contributory, long-term savings scheme designed to provide financial security during retirement. Individuals, including all citizens and employees, contribute regularly to their NPS accounts. The contributions are invested in a mix of equity, fixed deposits, corporate bonds, liquid funds, and government funds.
F.A.Q.
Here are some frequently asked questions (FAQs) related to the National Pension System (NPS):
NPS, or the National Pension System, is a voluntary, long-term retirement savings scheme designed to enable systematic savings for the future.
NPS is open to all citizens of India, including salaried employees, self-employed individuals, and those in the unorganized sector.
Subscribers contribute regularly to their NPS accounts, which are invested in various financial instruments. The accumulated corpus is used to provide a pension during retirement.
Tier-I is a mandatory pension account with restrictions on withdrawals. Tier-II is a voluntary savings account with more flexibility in withdrawals.
NPS offers a range of investment options, including equity, fixed deposits, corporate bonds, liquid funds, and government funds. Subscribers can choose their asset allocation.
Partial withdrawals are allowed for specific purposes such as education, marriage, or buying a house, subject to certain conditions.
A part of the corpus must be used to purchase an annuity for a regular pension income. The remaining amount can be withdrawn in a lump sum or in installments.
Yes, Non-Resident Indians (NRIs) are eligible to join NPS and enjoy the benefits of the scheme.
The pension amount depends on the accumulated corpus, annuity rates, and the chosen pension option at the time of retirement.
Yes, contributions to NPS are eligible for tax deductions under Section 80CCD of the Income Tax Act.