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Frequently Asked Questions
What is NPS?
The National Pension Scheme (NPS) is a government-backed retirement savings plan that allows individuals to invest systematically for their post-retirement financial security, offering market-linked returns and tax benefits.
What asset classes does the National Pension Scheme invest in?
NPS invests in four asset classes: Equity (E), Corporate Bonds (C), Government Securities (G), and Alternative Assets (A) to provide diversified returns.
Do I need to pick my asset classes on my own?
No, NPS offers two investment choices—Active Choice, where you select asset allocation, and Auto Choice, where allocation is managed based on age
What are the two types of National Pension Scheme accounts?
NPS has Tier I (mandatory, with withdrawal restrictions) and Tier II (optional, with flexible withdrawals) accounts for different investment needs.
Which pension funds manage contributions under the National Pension Scheme?
NPS contributions are managed by licensed Pension Fund Managers (PFMs) like SBI Pension Funds, LIC Pension Fund, and HDFC Pension Fund.
Can I withdraw my NPS prematurely?
Yes, premature withdrawal is allowed after 3 years, but only 25% of the contributions can be withdrawn under specific conditions like education, marriage, or medical emergencies.
What information do I need to use the NPS calculator?
You need details like your current age, investment amount, expected returns, contribution frequency, and retirement age to estimate your pension.
Is NPS investment tax-free?
Yes, NPS offers tax benefits under Section 80CCD(1), 80CCD(2), and 80CCD(1B), allowing deductions up to ₹2 lakh annually. However, only 60% of the corpus is tax-free at withdrawal.
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