Skip to main content

How NRIs Can Open NPS Account Online

National Pension System (NPS) is a government-sponsored pension scheme. The scheme allows a person to contribute regularly to a pension account during their working life. On retirement, the person can withdraw a part of the corpus in a lump sum and use the remaining corpus to buy an annuity to secure a regular income after retirement. NRIs can also invest in the NPS, under the Foreign Exchange Management Act. NPS will allow NRIs to invest in a mix of equities and debt and save for their retirement and it can be done online too. Here's how an NRI can open NPS account online:
1. Eligibility
NRIs aged between 18 and 60 years can open NPS account. NRIs need to have a PAN card along with a bank account in an NPS empaneled bank for KYC verification online.
2. Websites
An NRI needs to visit the PFRDA NPS Trust website https://enps.nsdl.com/eNPS/NationalPensionSystem.html—and choose eNPS. Next, he should click on Registration and then on New Registration to begin the process.
3. Details
An NRI should select the Non-Resident Indian option and choose the type of account—repatriable (NRE) or non-repatriable (NRO). After entering PAN, passport number and bank account details then select the country of residence from the dropdown list. Once details are submitted, an NPS registration form will be displayed wherein the NRI must enter personal, contact and bank details.
4. Scheme Details
An NRI needs to choose the pension fund manager from the drop-down list and investment mode—Active or Auto. If he selects Active, then he has to specify the percentage allocation in the different asset classes. In case of Auto mode, the allocation will be done automatically based on a pre-decided strategy, depending on the age of the person opting for the scheme. He can register up to three nominees.
5. Photo & Signature
The NRI must upload a scanned signature and photograph in jpg format of size 4-12kb.
6. Initial Contribution
The initial contribution of Rs 500 needs to be made through the selected bank. After this, a Permanent Retirement Account Number (PRAN) will be generated.
7. Submission of Form
Once the registration process is completed, an NRI must print the system-generated form, paste photograph, add a signature and dispatch the same to the Central Record Keeping the agency of NPS within 90 days. Failure to do so will lead to freezing of the account.
   
         The information provided in this article is generic in nature and for informational purposes only. It is in no manner can act as a substitute for specific advice in your own circumstances. We strongly recommend you to seek the official website of NPS Trust https://enps.nsdl.com/eNPS/NationalPensionSystem.html for detailed information and further assistance.

        

Comments

Post a Comment

Popular posts from this blog

The Pushkar Mela 2019

The Pushkar Mela also is known as the Pushkar Camel Fair is a unique celebration of the beauty of the coveted “ship of the desert” – the camel along with some other cattle. It is estimated that more than 2 lakh people from all around the world visit this unique mela, which mainly focuses on trading camels and cattle, camel races which are the main attraction and a variety of other cultural performances and art exhibits. This year the dates of the Mela (Fair) are from 4th to 12th November 2019. The Pushkar Mela is also a holy pilgrimage for Hindus, pilgrims that visit Pushkar come to take a holy dip in the Pushkar Lake and offer prayer to Lord Brahma, the deity residing in the temple at Pushkar. It is said to be the only temple of the deity in the country, which makes it an important pilgrimage spot for people of faith. The Pushkar Mela creates a grand event cherished with a huge carnival including an array of musicians, magicians, dancers, acrobats, snake charmers and carousel rides
1 comment
Read more

Chennai Corporation Hosts Concert in City Parks!

The Chennai Corporation, along with UNESCO Creative Cities Network, launched a collective that will curate and present unique collaborative performances in parks across the city. Chennai made it to the UNESCO Creative Cities Network (UCCN) for its rich musical tradition in 2017. According to UNESCO, the goal of UCCN is to foster international cooperation among member cities committed to investing in culture and creativity for sustainable urban development, social inclusion and cultural vibrancy. The Greater Chennai corporation earlier this year in July launched the ‘concerts at the park’ initiative at Anna Tower Park. The civic body has planned to host music concerts in which both professional and amateur artists (singers and dancers) will perform every weekend. About 42 such big parks in the city have been identified that have an open amphitheater to take music closer to the residentsand as a way of encouraging Chennai’s unique art and culture in public spaces. More people will be en
Post a Comment
Read more

India Liberalizes E-Visa Regime to Boost Tourism

Launched in September 2014 e-Visa was aimed at making the process of getting an Indian visa easier, and to bring more business people and medical tourists into the country. The Indian e-Visa is an electronic authorization to travel to India for business, tourism, or medical visits. When applying for an e-Visa, it is not necessary to submit your passport or other personal documents to the consulate. Everything will be done online. E-Visa approval will be issued in advance electronically before a tourist departure to India. At the immigration checkpoint, the actual visa will be placed inside a user’s passport. The Government on 15th February 2019 has moved to further liberalize the e-Visa procedure. According to the statement by Tourism Ministry, there are some modifications to the previous guidelines that include increasing the number of countries where e-Visa was applicable from 46 countries to 166 countries and other series of amendments in the e-Visa regime to enhance the influx of
Post a Comment
Read more