What Is NPS?

The National Pension System (NPS) is a contribution pension system regulated by the Pension Fund Regulatory and Development Authority. It allows you to enjoy a retirement income via regular systematic investment.

2 Types Of Account In NPS

Tier 1: Primary NPS account that can be opened with Rs500 and needs an annual investment of Rs1000.
Tier 2: Voluntary secondary account that can only be opened if you already have a Tier 1 NPS account.

How To Open NPS Account Online via eNPS?

You can open an NPS account online in 7 easy steps via the official eNPS website.

Step 1:

Go to the official eNPS website

Step 2:

Click on “NATIONAL PENSION SYSTEM”.

Step 3:

Click on “REGISTRATION”.

Step 4:

Choose the registration document type, applicant type and status, enter the required details and generate OTP.

Step 5:

Post OTP validation, enter basic details, contact details, nominee information, payment details, etc.

Step 6:

Upload your KYC documents, photograph and signature, and make a payment of at least Rs 500.

Step 7:

After successful payment, you’ll receive your Permanent Retirement Account Number(PRAN) and receipt. Now OTP Authenticate or eSign the form to complete the application.

How To Invest In NPS Online Via eNPS?

Once you have your PRAN, here’s how to invest in NPS via the official eNPS website:

Step 1:

Visit the official eNPS website.

Step 2:

Click on “NATIONAL PENSION SYSTEM”.

Step 3:

Click on “CONTRIBUTION (NAV T+2)”.

Step 4:

Submit the required details and verify your PRAN via OTP.

Step 5:

Now select the account type: Tier 1 or Tier 2.

Step 6:

Enter the amount you want to contribute.

Step 7:

Choose your preferred payment gateway and complete making payment via Debit/Credit card, UPI or Internet Banking.

How To Open NPS Account Via POP-SP?

You can open an NPS account in 4 easy steps by visiting any POP-SP i.e. Point of Presence-Service Providers. This includes post offices, banks, etc.

Step 1:

Go to https://npscra.nsdl.co.in/pop-sp.php and find your nearest post office or authorised bank that falls under POP-SP.

Step 2:

Talk to the executive there and fill out a form to open your NPS account.

Step 3:

Submit the filled application form with a copy of all the required documents.

Step 4:

Deposit a sum of at least Rs 500 and get started with your Tier 1 NPS account.

How To Invest In NPS Via POP-SP?

Once you have a Tier 1 NPS account, here’s how you can invest in it offline:

Step 1:

Visit your nearest POP-SP and ask for an NPS contribution slip.

Step 2

Fill up all the required details.

Step 3:

Submit the NPS contribution slip along with your investment amount, which should be at least Rs 1,000 per year.

Looking for more options for saving tax?

Click on the link below to explore more options apart from NPS to save income tax