India Post, the postal gadget of u . S. A . offers the ability to commence accounts under National Pension System (NPS). NPS is a government-backed retirement-making plans tool regulated with the aid of the Pension Fund Regulatory and Development Authority (PFRDA). PFRDA has appointed India Post as one of the Point of Presence (POP) – the first point of the interplay of the NPS subscriber with the NPS structure. India Post affords offerings through POP carrier companies (POP SPs). All head post offices throughout the united states of America are identifying as POP SPs, in step with India Post’s internet site- indiapost.Gov.In.Given beneath are salient capabilities of Post workplace NPS account:
All citizens who do no longer come beneath any NPS quarter and are elderly between 18 and 64 years of age can open an NPS account with publishing workplace, it stated.
India Post permits subscribers to open an NPS account and make subsequent contributions. All types of provider requests and go out / claim withdrawal requests also are offered, stated India Post.
Types of NPS debts
There are two types of debts that might be opened under NPS: Tier I and Tier II. Tier I is a pension account and is obligatory. Tier II is a financial savings account and is non-obligatory. Customers get an additional tax advantage of Rs. 50,000 for investment in NPS (All Citizen Model), in step with India Post.