“A new initiative, ‘Swavalamban’, will be implemented for those who join the NPS with a minimum contribution of Rs 1,000 and a maximum contribution of Rs 12,000 per annum during financial year 2010-11, wherein the government will contribute Rs 1,000 per year to each NPS account opened in 2010-11,” Finance Minister Pranab Mukherjee said while presenting the Union Budget.
The finance minster has made an allocation of Rs 100 crore for this. The move will reduce costs for investors. At present, the account opening charge is Rs 50, the annual maintenance fee is Rs 350, the transaction charge is Rs 10 per transaction while the fund management fee is 0.0009 per cent of the fund value every year.
In May 2009, the Pension Fund & Regulatory Development Authority had opened the scheme for all citizens. While the pension regulator is facing challenges in expanding the distribution network to cover the entire unorganised sector, the economic survey released yesterday emphasised the need to educate citizens to take investment decisions based on their risk and return profiles.
“It is an encouraging move as the cost of joining will come down,” said H Sadak, CEO, LIC Pension Fund.
The regulator is likely to bring the fee for managing the pension corpus of companies on a par with what is being charged by fund managers handling government pension schemes.
sir please tell me where to join this NPS policy with detail. how many rate of intrest this policy give us and what is the completion time of this policy
please let me know all about NPS like whare it to be deposited and which catogary of people and what are other benifits, so that I can educate all my neighbors and kith and kin in this regard so that the scheme can take a booming diversion
Arif
I am exserviceman jioned in drdo my nps subscription is still exservicemaning, but same has been dicontinued for some other exserviceman.In my view due to applicability of ccs rule2008 of pay fixation re employed persons ceases to exserviceman nps contribution and will be in old system. Please clarify.
In pursuance of the NPS letters from Govt, it is not mentioned anywhere that an already pension drawing person being exserviceman can not join the NPS. But, it needs clarification from Personnel, Pay, Pension and Grievance ministry. I hope it is entitled to the exservicemen already pension drawing person also. Some babus/clerk based on the previous GPF rules may argue and stop the contribution. RTI may help in this regard. Proceed it and publish the outcome in this site.
Govt. contribution of Rs.1ooo/- per year to new NPS accounts is for only fist &/or limited years or is for the full term of insurence Req clarification pl
Govt. contribution of Rs.1ooo/- per year to new NPS accounts is for only fist &/or limited years or is for the full term of insurence
Req clarification pl
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