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National Pension Scheme ( NPS)

National pension scheme in India define quasi EET instrument which in essence is closer to 401(k) plans of United States and is intended at creating a pensioned society in the country. It is at a very nascent stage in India, unlike in the developed worlds like US wherein over 80% of the population is covered under NPS.

It was partly due to lack of awareness and more so due to lack of right incentives for both the buyers and sellers. It has now been opened for all and enjoys an additional tax benefit of Rs 50,000 under Section 80CCD(1b)over and above the Rs 1.5 lakhs exemption of Section 80C. 60% of the corpus is taxable here while 40% escapes tax.

The National Pension Scheme was launched on 1st January, 2004 with the objective to provide National Pension Scheme benefits so that the citizens in India can live a comfortable life and cope up with the continuous inflation post retirement. Initially, the scheme was only designed for providing added benefits to the new government recruits but from 1st May, 2009 it is provided to all the citizens including the unorganized sector workers. So, now all the citizens between the age group of 18 and 60 years can now apply for National Pension Scheme online and choose the best plan by using National Pension Scheme Calculator.

Sources Used by Mutual Fund-Owning Households to Purchase Mutual Fund

Percentage of U.S. households owning mutual funds, 2014


NPS Grievances Redressal Policy

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Analyst Mohalla