PFRDA : How to Open New Pension Scheme Account

Name of the Organisation :Pension Fund Regulatory And Development Authority(pfrda.org.in)
Type of Facility : How to Open – New Pension Account
Home Page : http://www.pfrda.org.in

Download the Application form : www.indianjobtalks.in/uploads/6131-nps_app_form.pdf

Pension Fund Regulatory And Development Authority Related Content:
NPS Offer Document For Citizen: https://www.indianjobtalks.in/25378.html
Investment Guidelines For NPS:https://www.indianjobtalks.in/25618.html

How to Open ICICI Direct – New Pension Sscheme Account :
Allocate Funds for NPS Investment Log on to your ICICIdirect Account. Go to ‘NPS’ (tab option). Now click on the ‘Modify Allocation’ > Add Amount (you want to invest in NPS) > Minimum should be Rs.500.00 > Click ‘Submit’.

NPS Account Opening Process :
It’s a four step process, where you need to fill-in following info –
First go to ‘Subscribe NPS’ (tab option) > Pop Up > Accept

Step 1 : Personal Information
Here you select following info –
Account Type: Select Tier 1 or Integrated Tier 1 and Tier 2
Category: Government/ Private Sector / Self Employed / Others
CRA SMS Alert (Chargeable): Yes / No
Do you want to nominate for NPS account Tier 1: Yes / No

Step 2 : Nomination Details
Here you need to enter nominee and guardian info (Not Mandatory) –
First, Second and Third Nominee and Guardian Name
Guardian Name is required only if the Nominee is Minor

Step 3 : Scheme Preference
Pension Fund Manager: Select from following options –
1- ICICI Prudential Pension Funds Management Company Limited
2- IDFC Pension Fund Management Company Limited
3- Kotak Mahindra Pension Fund Limited
4- Reliance Capital Pension Fund Limited
5- SBI Pension Fund Funds Private Limited
6- UTI Retirement Solutions Limited

Choice: Active / Auto
Total Contribution: Minimum should be Rs. 500.00
Asset Allocation:
Equity : Less Than or equal to 50%
Corporate Bonds : %
Government Bonds : %
Total percentage of all the three combined together should be not more than 100%.

Step 4 : Declaration and Authorization
Take a print out of the form and sign it and send it across to ICICI Direct. You will be provided PRAN allotment letter by CRA.

Charges:
ICICIdirect will charge Rs.40 for opening an account and Rs.20 for every subsequent transaction.

The salient features of the New Pension System (NPS) are as follows :
** It is a pension system for the non-Government sector.
** It is open to anyone from 18 years to 60 years of age, including NRIs.
** The minimum contribution is Rs. 6,000 per year, at Rs. 500 per transaction.
** There should be a minimum of one transactions per year.
** There is no maximum contribution. The maximum contribution in cash (at ICICI Bank) is Rs. 25,000 per transaction.
** A subscriber must compulsorily select a pension fund manager (PFM).

Contact Us:
Pension Fund Regulatory and Development Authority
First Floor, ICADR Building, Plot No 6,
Vasant Kunj Institutional Area,
Phase- II,Delhi – 110070