NPS Tier 1 Account - How to Open, Interest Rate, Features, and Withdrawal
National Pension System (NPS) is a retirement cum pension scheme. By investing in NPS, the investors get the dual benefit of tax-saving and retirement planning. What is NPS? National Pension System (NPS) is a government offered retirement planning scheme. It is one of the many investment schemes covered under Section 80C of the Income Tax Act, 1961. By investing in NPS, investors can secure their retirement and at the same time save on taxes of up to Rs 1,50,000 a year. Both private and government employees can opt to invest in this retirement planning scheme. NPS accounts come in different forms. NPS Tier 1 accounts are the most basic form of NPS. NPS Tier 1 accounts come in different forms; NPS (State Government) NPS (Central Government), NPS (Corporate), and NPS (All Citizens). The rules applicable to these accounts vary, but some general rules apply to all. Eligibility for NPS The eligibility criteria for NPS is very similar to that of most other government offere...