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New Pension System
21st July, 2020
New Pension System:
Regulated by PFRDA, a Prudent Regulator created by Government of India.
Funds are managed by funds managers from Public & Private sector with proven track record.
Stock Holding Corporation of India Ltd, functions as custodian for NPS.
12-digit unique number called PRAN (Permanent Retirement Account Number).
Eligibility:
Indian Citizen
Between age of 18 and 65
KYC compliant
Must not have pre–existing NPS account.
Any employee from public, private and even the unorganised sectors can opt for this.
Personnel from the Armed forces are not allowed.
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