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Part I: Product FAQs

  • What Is NPS?
    National Pension System (NPS) is India’s simplest and perhaps the least cost pension system. NPS was introduced by the Central Government on 1st January 2004, and is regulated by Pension Fund Regulatory and Development Authority (PFRDA).

    On 1st May 2009, National Pension System was extended to all citizens of India on a voluntary basis. NRIs can also apply. Reliance Capital Ltd (RCL) has been appointed as one of the Point of Presence (PoP) for registering applicants to the NPS. On registration to the NPS, the subscriber will be issued a Permanent Retirement Account Number (PRAN) by the PFRDA.
  • What are the salient features of the Scheme?
  • What is the eligibility Criteria for this scheme?
  • What are the Tax Benefits of investing in NPS?
  • Where and how to open an account?
  • What is the meaning of Investment Option?
  • What Does Active choice and Auto Choice mean?
  • Can I change my Investment Option?
  • Where can I give my service requests?
  • What are the Fund Management Charges of Pension Fund Managers?
  • What is the minimum contribution for this scheme?
  • What happens if a subscriber fails to contribute the minimum amount?
  • What are the nomination facilities under NPS?
  • What returns will I earn on my investments?
  • What are the fees and charges of POP for subscribing to NPS?
  • Do POPs have the liberty to determine their charges?
  • What is the age of retirement?
  • What will happen of my funds at the time of retirement?
  • Can I opt for retirement before the age of 60?
  • Can I have a joint account for this scheme?
  • Can an individual open two account in NPS.
  • Will the annuity also provide for a family (survivor) pension?
  • Can I track my portfolio online?
  • Can I track daily NAV (Net Asset Value) of the scheme?
  • What is the difference between Tier I and Tier II account?
  • Can an individual opt for Tier II account only.

Part II: Salary Process Related FAQs

  • How can I subscribe to NPS via Salary Process?

    You can opt for NPS by giving a declaration to HR team indicating the contribution amount (max up to 10% of basic salary). Post declaration, you will have to complete the NPS Registration Form and submit to RCPFL. Post the submission, RCPFL would complete all the formalities. Once your account number is received from Reliance Capital Limited (RCL), your contribution will be transferred to RCL for depositing in your account. The entire process may take upto 20 working days.

    Employees, who already have a NPS account, need to give “Inter Sector Shifting Form” to RCPFL, with a copy of his/her PRAN Card. If their POP is other than RCL, they need to submit POP Change Request form in addition.

    Completed Registration Forms will be sent to RCL for processing along with your contribution amount. You will receive your Welcome Kit within 15 days directly from NSDL at your current address mentioned in the application form. Welcome Kit will contain welcome letter with your Permanent Retirement Account Number (PRAN) and the internet password and PRAN Card.

    Monthly contribution will be deducted from your salary and deposited in your NPS Account. Every time a contribution is deposited in your account, you will receive an SMS and email alert.
  • How much can I contribute to NPS via Salary Process?
  • Is there any tax benefit available to the additional contribution?
  • Will contribution through salary change with change in Basic Salary?
  • How will my contributions be processed?
  • What will happen to this account if I leave the organization?
  • In case of queries regarding NPS application process whom should I contact?
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