National Pension System
National Pension System (NPS)
National Pension System (NPS) is a scheme in which you can invest specific amounts and earn market-based returns. Regulated by Pension Fund Regulatory Development Authority (PFRDA). The NPS will help you save for retirement and is available for every citizen of India including NRIs.
YES BANK has been appointed by PFRDA to act as one of the Point of Presence (POP) for the NPS.
Who can subscribe in NPS?
Any citizen in the age group of 18-65 years (as on the date of submission of his / her application to the POP-SP) can join NPS except for the government subscribers who are mandatorily covered under NPS.
Offerings under NPS
The subscriber to NPS will be allotted a unique Permanent Retirement Account Number (PRAN), which can be used by the subscriber for his/her lifetime and can be used from any location in India.
PRAN provides access to two personal accounts:
Tier I Account: This is a non-withdrawable account meant for savings for retirement. (Entry Age - Min: 18 years; Max: 65 years).Tax Benefits are available in Tier I account
To Know more contact nearest YES Bank-PoP-SP Branch.
Tier II Account: This is simply a voluntary savings facility. The subscriber is free to withdraw savings from this account whenever he/she chooses to. No tax benefit is available on this account.
Why should you invest in NPS?
A range of investment options:Individuals can switch over from one investment option to another, subject to certain regulatory restrictions. The returns are totally market related. Subscribers have option to choose options (Active and Auto Choice for distribution)
Flexibility to choose between several Pension Fund Managers:Individuals can switch over from one fund manager to another, subject to certain regulatory restrictions. The returns are totally market related.
NPS provides portability options across jobs and locations
PFRDA regulates the National Pension System with regular monitoring, performance review and transparent investment norms of fund managers.
How to Subscribe for NPS
Submit the following at any authorized YES BANK branch:
KYC documents (as mentioned in the Form)
2 Photographs (Colored Passport)
Minimum contribution amount
Click here for list of branches which are authorized to service National Pension System (NPS)
Click To Apply
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