Any individual citizen of India (both resident and Non-resident) in the age group of 18- 70 years can open a single holder type account.

• Non Residential Indians can also open an NPS account through online mode and can make full use of the benefits they carry.
• Multiple NPS accounts for a single individual are not allowed.

No maximum limits for frequency of contributions and amount per contributions

• If a person subscribes NPS before age of 60 Years - Subscribers are permitted to make their contributions up to 60 years age which can be extended for another 15 years.
• If a person subscribes NPS after age of 60 Years - Subscribers are permitted to make their contributions up to 75 years age (mandatory lock in period of 3 years)

• Subscriber Registration : Rs.200.00 + Applicable GST (will be collected upfront)
• Initial/Subsequent Contribution : 0.50% of the contribution amount from subscriber subject to a minimum of Rs.30 and a maximum of Rs. 25,000/- + Applicable GST (will be collected upfront)

Exclusive Tax Benefit for NPS subscribers u/s 80CCD (1B) an additional deduction for the investment up to Rs. 50,000 in NPS (Tier I account) has been introduced under sub section 80CCD (1B).

This is over and above the deduction of Rs. 1.5 lakh available under section 80CCE.

Types of NPS accounts:-

• Tier I Account: This is a non-withdrawal account to which the subscriber shall contribute his/her savings for building a retirement corpus.
• Tier II Account: This is a voluntary savings facility which provides liquidity to subscribers i.e subscribers will be free to withdraw their savings from this account whenever they wish.

The NPS offers two approaches to invest subscriber’s money:

• Active choice – NPS offers with the flexibility to design customer’s own portfolio. The four asset classes are available under Active choice (Equity /E, Corporate Debt/C, Government Securities /G, Alternative Investment Funds/ A)
• Auto choice -In Auto choice, Amount will be automatically invested in asset classes.
  • Aggressive (LC-75) – Maximum Equity exposure is 75% up to the age of 35
  • Moderate (LC-50) - Maximum Equity exposure is 50% up to the age of 35
  • Conservative (LC - 25) – Maximum Equity exposure is 25% up to the age of 35