National Pension Scheme

There are no account opening or transaction charges for maintaining an NPS account. The only applicable fee is an Annual Service Charge of 0.2% of your AUM per year (minimum ₹30 per year), deducted quarterly by the CRA through unit cancellation

• Example: If your AUM is ₹1,00,000, the annual charge is ₹200, deducted as ₹50 per quarter by slightly adjusting your unit balance.
• No additional platform or service fees are charged by INDmoney.

All charges in NPS are defined under regulation set by PFRDA.
Social media handles of PFRDA: X, LinkedIn, Facebook, Instagram

Tier I Account:

This is your primary retirement account under NPS. Contributions made by you and/or your employer are invested as per your chosen Pension Fund Manager and investment option. Withdrawals are governed by NPS exit and withdrawal regulations.

Tier II Account:

This is a voluntary savings account available only if you have an active Tier I account. It offers flexible withdrawals, allowing you to access your funds whenever required.

Note: As of now, with INDmoney, Tier II account investments are not available.

The National Pension Scheme (NPS) is open to:

• Any Indian Citizen (resident or non-resident) and Overseas Citizen of India (OCI)
• Individuals aged between 18-70 years
• Those compliant with Know Your Customer (KYC) norms

However, Hindu Undivided Families (HUFs) and Persons of Indian Origin (PIOs) are ineligible for NPS subscriptions. NPS operates as an Individual Pension Account and cannot be opened on behalf of a third person. The applicant must be legally competent to execute a contract as per the Indian Contract Act.

Please note: With INDmoney, NPS account opening is exclusively available for Resident Indians.

Tax benefits under NPS include:

• Tax benefit of up to 10% of the basic salary + DA under section 80 CCD(1) within the cumulative Rs. 1.5 lakh limit under section 80C.
• Additional deduction benefit of Rs. 50,000 under 80CCD (1B).

NPS contributions to Tier I and Tier II accounts have specific minimum thresholds without an upper limit for contributions. Failure to contribute can result in an account freeze, requiring payment of the total minimum contributions for the freeze period to unfreeze the account.

Note: As of now, with INDmoney, Tier II account investments are not available.

Yes, EPF/PPF individuals can voluntarily subscribe to NPS along with any other pension scheme(s). However, an individual cannot possess multiple NPS accounts.

NAV will be applicable of the date on which funds are received by the Pension Funds (within the cut-off time). The expected NAV date on your order would be 2 business days after your payment completion.

Subscriber is allowed to register up to three nominees in NPS. Yes, a minor can be a nominee. In such cases, Subscriber will be required to provide guardian's details and date of birth of the minor.

Normal Exit
You can exit upon:

• Completing 15 years of subscription, or
• Attaining 60 years of age (whichever is earlier)

At exit:

• Corpus ≤ ₹8 lakh:
  You may withdraw 100% as lump sum.
• Corpus > ₹8 lakh and ≤ ₹12 lakh:
  You may withdraw up to ₹6 lakh as lump sum, and the balance must be used to purchase an annuity,
  or you may choose up to 80% lump sum + minimum 20% annuity.
• Corpus > ₹12 lakh:
  You may withdraw up to 80% as lump sum, and at least 20% must be used to purchase annuity.

Premature Exit (Before completing vesting period)

• Corpus ≤ ₹5 lakh:
  100% lump sum allowed.
• Corpus > ₹5 lakh:
  Up to 20% lump sum, and minimum 80% must be used to purchase annuity.

Partial Withdrawal

• Allowed during the subscription period.
• Up to 25% of your own contributions.
• Allowed up to 4 times before 60 years, with a minimum 4-year gap between withdrawals.

• Visit the "Help Center" from your profile or click the "Help Center" button (bottom right) on the Dashboard.
• Select the "NPS" section and choose the relevant topic or raise a ticket if needed.
• For direct contact, refer to the provided email address.

Email: 

All complaints will be handled following applicable PFRDA Regulations. An acknowledgment will be sent within 3 working days, along with a unique reference number for future communication. Efforts will be made to address concerns within 30 days.

If there's a delay in the Turnaround Time (TAT) benefit redressal, you can escalate concerns to the Central Grievance Management System (CGMS). Alternatively, you may register your complaint directly with the NPS Trust.