National Pension Scheme (NPS)

Secure Your Retirement with a Regulated & Flexible Pension Plan

National Pension Scheme (NPS) is a government-backed, voluntary retirement savings program designed to help individuals build a stable financial future. Introduced by the Government of India for all citizens on May 1, 2009, and extended to the corporate sector in December 2011, NPS enables long-term, disciplined retirement planning.

Every individual who enrolls in NPS is known as a subscriber and is allotted a unique Permanent Retirement Account Number (PRAN), issued by the Central Recordkeeping Agency (CRA).

Types of NPS Accounts

Tier I

• Commonly known as the Individual pension account and provides tax benefits.
• Withdrawals are limited and governed by specific terms and conditions.
• Requires a minimum annual contribution of ₹1,000.

Tier II

• Optional Account requires an active Tier-I Account.
• Offers flexibility for additional investments.
• Allows subscribers to withdraw the full balance at any time and does not provide any tax benefits.
• The account is automatically deactivated if no initial contribution is made.
• Funds can be transferred from Tier II to Tier I, but not the other way around.

Why Choose NPS?

National Pension Scheme is designed to promote systematic savings and offers a blend of flexibility, transparency, and security. It allows subscribers to invest according to their risk appetite while enjoying portability across locations and jobs.

The Nainital Bank Limited is registered with PFRDA (Pension Fund Regulatory and Development Authority) as a Point of Presence (POP) and Aggregator under the All-Citizen Model. We facilitate NPS account opening (Tier I and Tier II) and accept regular contributions across all our branches.

To register, simply visit any Nainital Bank's branch with valid identity proof, address proof, and age proof to complete the NPS enrollment process.

Benefits of the National Pension Scheme

• Voluntary Participation: Open to all Indian citizens with the freedom to choose your yearly contribution.
• Easy to Open: Visit any branch, complete registration, and receive your PRAN.
• Flexible Investment Choices: Select your preferred investment option and pension fund manager.
• Regulated & Transparent: Fully regulated by PFRDA with continuous monitoring and transparent norms.

Eligibility – Who Can Subscribe?

Applicants must be aged between 18 and 85 years.

Individuals can join NPS either under an employee–employer (corporate) group or as individual subscribers, subject to furnishing required information and KYC documentation.

• Please contact the nearest branch to know more.