Department of Posts starts providing NPS services through online mode

People can now subscribe to the national pension scheme from the Department of Posts online, an official statement said on Thursday.

The Department of Posts (DoP) has been providing the National Pension Scheme (NPS-All Citizen Model Scheme), a voluntary Pension Scheme of the Government of India managed by Pension Fund Regulatory and Development Authority(PFRDA), through its designated post offices since 2010."

Department of Posts is now pleased to start providing NPS (All Citizen Model) through online mode with effect from April 26, 2022," the statement said.

Any Citizen of India in the age group of 18-70 years of age group can avail of the online facility by visiting the official website of the India Post under the menu head "National Pension System -Online Services".

"Facilities like new registration, initial/ subsequent contribution and SIP options under NPS Online are available to the customers at minimum charges for all services," the statement said.DoP claims to have the lowest NPS service charge.

The subscribers are also eligible for a tax deduction in NPS as per the declaration made by the Ministry of Finance from time to time under sec. 80CCD 1(B).

"This online facility may be availed by all eligible persons for NPS without physically visiting any post office and to enjoy the hassle-free experience at a minimum fee structure," the statement said.