Details about

National Pension System (NPS)

The National Pension System Trust (NPS Trust) is a specialized branch of the Pension Fund Regulatory and Development Authority, which reports to the Government of India's Ministry of Finance. In India, the National Pension System (NPS) is a voluntarily defined contribution pension system. In India, the National Pension System, like the PPF and EPF, is an EEE (Exempt-Exempt- Exempt) instrument, which means that the entire corpus is tax-free at maturity and the entire pension withdrawal amount is tax-free.

The NPS launched with the Government of India's decision to discontinue defined benefit pensions for all employees hired after April 1, 2004. While the scheme was initially intended for government employees only, it was expanded to include all Indian citizens between the ages of 18 and 65 in 2009, and OCI card holders and PIOs in October 2019.PFRDA raised the National Pension System (NPS) entry age from 65 to 70 years old on August 26, 2021. According to the new rules, any Indian citizen, resident or non-resident, and Overseas Citizen of India (OCI) between the ages of 65 and 70 can join NPS and continue or postpone their NPS Account till the age of 75. The Pension Fund Regulatory and Development Authority administers and regulates it (PFRDA).