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14th May 2016, 09:00 AM
Super Moderator
 
Join Date: May 2012
Re: NPS Union Bank Of India

Hey buddy the NPS has been introduced by Pension Fund Regulatory and Development Authority (PFRDA) to promote old age income security to all citizens of India

Minimum Annual Contribution Requirements under NPS:

The following table provides the complete information on the minimum contribution
requirements:

S. No. Tier I Tier II

1 Minimum Contribution at the time of account opening Rs. 500 Rs.
1000

2 Minimum amount per contribution Rs. 500 Rs. 250

3 Minimum total contribution in the year Rs. 6000 Rs. 2000

4 Minimum frequency of contributions 1 per year 1 per year

The New Pension System has two types of accounts.

1. Tier-I account: Individuals can contribute their savings for retirement into this non-withdrawal account.

2. Tier II account: Under this saving facility, individuals are free to withdraw their savings


Facilities

1. Account can be transferred from one POP to another

2. Provision for Change in subscriber details, investment scheme, fund manager etc.

3. Printed statement available.


If you want more details then feel free to contact again


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