{"id":1647,"date":"2022-10-15T16:52:49","date_gmt":"2022-10-15T16:52:49","guid":{"rendered":"https:\/\/sdfinancialservices.in\/?page_id=1647"},"modified":"2022-10-21T06:51:33","modified_gmt":"2022-10-21T06:51:33","slug":"nps","status":"publish","type":"page","link":"https:\/\/sdfinancialservices.in\/index.php\/nps\/","title":{"rendered":"NPS (National Pension Scheme)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1647\" class=\"elementor elementor-1647\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5a14e636 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5a14e636\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4cfa3c7d\" data-id=\"4cfa3c7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5dfe79ce elementor-widget elementor-widget-text-editor\" data-id=\"5dfe79ce\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-1927\" src=\"https:\/\/sdfinancialservices.in\/wp-content\/uploads\/2022\/10\/national-pension-system-and-its-benefits.jpg\" alt=\"\" width=\"703\" height=\"275\" srcset=\"https:\/\/sdfinancialservices.in\/wp-content\/uploads\/2022\/10\/national-pension-system-and-its-benefits.jpg 768w, https:\/\/sdfinancialservices.in\/wp-content\/uploads\/2022\/10\/national-pension-system-and-its-benefits-300x117.jpg 300w, https:\/\/sdfinancialservices.in\/wp-content\/uploads\/2022\/10\/national-pension-system-and-its-benefits-650x254.jpg 650w\" sizes=\"(max-width: 703px) 100vw, 703px\" \/><\/figure><\/div>\n\n<strong>National Pension System Trust<\/strong>\u00a0(<strong>NPS Trust<\/strong>) is a\u00a0specialised division \u00a0of\u00a0pension fund \u00a0which is under the\u00a0juridiction\u00a0of\u00a0ministry of finance\u00a0of the\u00a0government of india. The\u00a0<strong>National Pension System<\/strong>\u00a0(<strong>NPS<\/strong>) is a voluntary defined contribution pension system in\u00a0india. National Pension System, like\u00a0ppf\u00a0and\u00a0epf\u00a0is an EEE (Exempt-Exempt-Exempt) instrument in India where the entire corpus escapes tax at maturity and entire pension withdrawal amount is tax-free.<\/p>\nNPS started with the decision of the\u00a0government of india\u00a0to stop defined benefit pensions for all its employees who joined after 1 April 2004. While the scheme was initially designed for government employees only, it was opened up for all citizens of India between the age of 18 and 65 in 2009, for OCI card holders and PIO&#8217;s in October 2019.\u00a0On 26 August 2021, PFRDA increased the entry age for the National Pension System (NPS) from 65 years to 70 years. As per the revised norms, any Indian Citizen, resident or non-resident and Overseas Citizen of India (OCI) between the age of 65\u201370 years can join NPS and continue or defer their NPS Account up to the age of 75 years.\u00a0It is administered and regulated by the\u00a0pfrda<\/p>\n<!-- \/wp:paragraph -->\n\nOn 10 December 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40% annuity also became tax-free.\u00a0Any individual who is Subscriber of NPS can claim tax benefit for Tier-I account under Sec 80 CCD (1) with in the overall ceiling of Rs. 1.5 lac under Sec 80 C of Income Tax Act. 1961.\u00a0An additional deduction for investment up to Rs. 50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B).\u00a0The changes in NPS was notified through changes in\u00a0the income tax act during the 2019\u00a0union budget of india There is no tax benefit on investment towards Tier II NPS Account. NPS is limited EEE, to the extent of 60%.\u00a040% has to be compulsorily used to purchase an\u00a0annuity which is taxable at the applicable tax slab.<\/p>\n<!-- \/wp:paragraph -->\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>National Pension System Trust&nbsp;(NPS Trust) is a&nbsp;specialised division &nbsp;of&nbsp;pension fund &nbsp;which is under the&nbsp;juridiction&nbsp;of&nbsp;ministry of finance&nbsp;of the&nbsp;government of india. The&nbsp;National Pension System&nbsp;(NPS) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-1647","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/pages\/1647"}],"collection":[{"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/comments?post=1647"}],"version-history":[{"count":10,"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/pages\/1647\/revisions"}],"predecessor-version":[{"id":2095,"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/pages\/1647\/revisions\/2095"}],"wp:attachment":[{"href":"https:\/\/sdfinancialservices.in\/index.php\/wp-json\/wp\/v2\/media?parent=1647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}