10 Things NRIs Should Know About NPS

Outlook Money

What Is NPS?

The National Pension System (NPS) is a small savings scheme for retirement and is open for resident and non-resident Indians (NRIs).

Savings

Rider For NRIs

Although an NRI can open an NPS account, it would be closed if the resident status changes after opening the account.

NRIs

Eligibility Criteria

NRIs aged 18-70 can open the account, provided they link it with the NRO (Repatriable) or NRE (Non-Repatriable) account.

Eligibility

Repatriable Vs Non- Repatriable

Repatriable means the income earned in India can be sent to a foreign account; whereas non- repatriable means the income earned cannot be transferred to an offshore account.

income

Account Opening

NRIs must also comply with the KYC documentation, such as providing PAN and passport details, proof of residence, bank account information, etc.

information

Step 1

The first step is to visit the e-NPS website for account opening.

Steps

Step 2

The second step is to click on registration and select from the repatriable or non-repatriable option

Registration

Step 3

Select the country of residence, and provide passport and PAN details

PAN Card

Step 4

Fill out the details and upload scanned copies of the signature, passport, PAN, photograph, and a cancelled cheque.

Cheque

Step 5

Pay the amount (minimum Rs 500), and the process is complete.

Amount

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