Outlook Money
National Pension System (NPS) helps subscribers in retirement planning by accumulating a sufficient retirement corpus.
Provides deductions up to Rs 1.5 lakh under Section 80 CCD (1) of the Income-tax Act, 1961 along with other tax benefits.
NPS offers flexibility regarding investment options (active or auto choice), asset classes, and selection of fund managers.
NPS is known for its low-cost structure as its fund management charges are among the lowest in the industry.
NPS is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
NPS allows you to benefit from the power of compounding over the long term.
The NPS offers portability, which means you can continue the scheme even if you change jobs or locations.
NPS allows partial withdrawals for specific purposes like education, medical treatment, and home purchase.