What is National Pension System?
National Pension System:
National Pension System is a Government scheme for Indian Citizens (including NRIs). NPS scheme is for the citizen age between 18-60 years and it is a Retirement Savings Scheme. Pension Fund Regulatory and Development Authority (PFRDA) launched NPS in 2004. NPS is to enable systematic savings during an individual working life. National Payments System is the cheapest retirement plan in the market among all other retirement plans such as EPF, PPF & Mutual Funds.
It is an easy process to open an account under National Pension System. You can also apply through online in eNPS service. To open an account through eNPS you need some documents and other details. These are such as your currently active Mobile No. and Gmail Id. With Bank Account Details, photo, and Aadhar Card for identification.