National Pension System

National Pension System

National  Pension System

Key Features
A Simple Step towards a Secure Tomorrow!

Smart. Secure & Future-ready. NPS works quietly in the background, for a tomorrow that feels effortless.

Add-on Investment Account

Tax Benefits

Choice of investment options

Low Cost

Services Image

Other Benefits

  • The National Pension System (NPS) is a voluntary, long-term retirement savings scheme in India. It's regulated by the Pension Fund Regulatory and Development Authority (PFRDA). The scheme allows individuals to contribute regularly towards their retirement savings and provides them with the option to choose between various investment options and pension fund managers.
  • Upon retirement, subscribers can withdraw a certain portion of the corpus as a lump sum and use the remaining amount to purchase an annuity to secure a regular income post-retirement.

  • Regulated - NPS is regulated by PFRDA under ministry of Finance
  • ⁠Voluntary- It’s a voluntary scheme for all citizens of India from age 18-75
  • ⁠Tax Benefits- Tax deductions up to ₹1.5 lakh under Section 80CCD (1) (within Section 80C) and Additional deduction up to ₹50,000 under Section 80CCD(1B)
  • ⁠Portability- The account is portable across jobs and sectors (public/private) locations CRA’s and PoP’s
  • ⁠Low Cost - NPS is one of the lowest-cost retirement products, making it attractive for long-term savings.
  • ⁠Online Access and Management -Subscribers can manage their NPS accounts online through the CRA (Central Recordkeeping Agency) portal. Contributions, statements, and fund switches can be done online.
  • Diversification- NPS funds are invested in different asset classes like Equities Corporate Bonds Government Securities and managed by professional fund managers.
  • Steady Flow of Income after retirement- At retirement either entire corpus can be utilized to buy annuity and ensure steady stream of pension income or 60% of the accumulated corpus can be withdrawn (tax free) and remaining 40% can be utilized to buy annuity and get pension income.

Eligibility

  • Age Between 18-70 years
  • Citizens of India, including NRI’s & OCI card holders
  • Any salaried or individual person can open NPS account

Types of NPS Account

All Citizen ModelTier-I MandatoryTier-II Optional
Tax BenefitsYes, subject to Income-tax Act conditionsOptional
WithdrawalsRestricted / subject to NPS exit & withdrawal rulesFlexible, subject to applicable account rules
Minimum Contribution at the time of account openingRs. 250Rs.1000
Minimum amount per contributionRs. 10Rs. 250
Minimum amount per contribution Per YearRs. 1000NIL

All Citizen Model

In an Individual NPS account, the subscriber/customer is the only contributor. All selections pertaining to Scheme preference, Investment choice, Annuity Service Provider, etc. are done by the subscriber/customer alone.

 

Corporate Model:

Pension Fund Regulatory and Development Authority of India (PFRDA) offers ‘Corporate NPS’ model to enable corporates to offer NPS investment benefit to all employees. The employees will come under NPS within the purview employer – employee relationship. Corporates may join NPS through any of our existing branches.

  • No Charges for offering NPS to employees
  • NPS can also be offered as a voluntary scheme to employees
  • NPS account holders can transfer their Superannuation funds to their NPS account without any tax implication
  • Investment up to 10% of Salary (Basic + Dearness Allowance) routed through the Employer, is deductible from taxable income u/s 80CCD (2) of Income Tax Act, 1961 which is over and above Rs. 1.5 lakhs limit of section 80C under Old Tax Regime
  • Additionally, investment up to Rs.50,000 is deductible from taxable income u/s 80CCD (1B) of Income Tax Act, 1961 under Old Tax Regime
  • Employees opting for New Tax regime, can choose up to 14% of Salary (Basic + Dearness Allowance) routed through the Employer, is deductible from taxable income u/s 80CCD (2)
  • Maximum limit of amount that can be claimed tax exempt is Rs. 7.5 lakh of employer contribution towards, NPS, PF and Superannuation all together. (Only available for Corporate NPS accounts).
  • For further enquires email to nps@svcbank.com

Existing Charges

ParticularsCharge Structure applicable from 01.01.2026 for Common Schemes
First year of subscriber onboardingRs. 200/- per new account (on monthly basis, will be collected in the month subsequent to the month of on-boarding)
Second Year onwards0.2% p.a. of the AUM (subject to minimum of Rs. 30/-) and 0.1% p.a. for CPSE employees (subject to minimum of Rs. 15/-) pro-rata on quarterly basis in accounts other than Dormant accounts. This shall be applicable to all existing accounts as well.

New Charges

Charge structure applicable from 01.10.2026 for All Schemes under NPS and NPS Lite
ParticularsCharges
One Time Onboarding chargeRs. *200/- per PRAN (equivalent of Rs. 50/- on quarterly basis will be deducted through cancellation of units by CRA(s) and payable to PoP in the month subsequent to the quarter in which onboarding is completed).
Annual charges0.20% p.a. of the AUM to be adjusted through NAV and payable to PoP on quarterly basis, for all schemes other than Dormant accounts.

 

Notes:

  • GST or other taxes as applicable, shall be additional.
  • Dormant Account will not be charged. Dormant account is defined as such account(s) identified by a unique PAN across all CRAs, where subsequent to a contribution in a quarter, there is no
    contribution for four consecutive quarters as identified at the end of each quarter.
  • *Where subscriber onboarding is undertaken through a fully digital and non-face-to-face mode, between the PoP and the subscriber, a reduced one-time onboarding charge of Rs. 100/- may be applicable, as may be determined by the Authority at the time of registration of PoP and thereafter.
  • Subscribers onboarded through e-NPS and making subsequent contributions through e- NPS or D-Remit shall not be liable to pay any PoP charges. It may also be noted that subscribers onboarded through a POP and making subsequent contributions through e-NPS or D-Remit, shall be liable to pay PoP charges as prescribed above.

 

Turn Around Time:

To know more  click here 

 

Disclaimer & Grievances:

The National Pension System (NPS) is launched and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), a statutory body under the Government of India. SVC Bank acts solely as a Point of Presence (PoP) registered with PFRDA, and facilitates the processing of NPS-related services. NPS is not a product, offering, recommendation, advice, or solicitation by SVC Bank. The NPS corpus may be invested in market-linked instruments as per PFRDA guidelines. These carry market and other associated risks. SVC Bank does not guarantee returns and is not liable for any loss or changes in fund value or NAV. Scheme selection, asset allocation, and fund manager choice are entirely at the discretion of the customer. SVC Bank does not recommend or advise on these. Contribution payments may be subject to PoP service charges and applicable taxes, reducing the actual amount invested.  Applications from already registered NPS subscribers may be rejected. Investors are advised to visit pfrda.org.in for details on risks, CRA charges, and other important considerations before investing. Past performance is not indicative of future results.

Refer the SVC Banks Grievance Redressal Mechanism:  Click Here 
To submit Grievance email to: nps_grievance@svcbank.com 

 

You can also reach out to PFRDAs Office of Ombudsman

  • The Office of Ombudsman -  Pension Fund Regulatory and Development Authority, Tower E, 5th Floor, E-500,World Trade Center, Nauroji Nagar, New Delhi – 110029
  • Phone No: 011 - 4071 7900
  • Email Id:  obudsman@pfrda.org.in

 

Pension Calculator NPS

NPS PRIDE – DISHA (PFRDA)
https://pfrda.org.in/pride-calculator

Pension Calculator (NPS TRUST)
https://npstrust.org.in/nps-calculator