www.pfrda.org.in New Pension Account Opening Process in Delhi
New Pension Account Opening Process in Delhi:
The Central pensions are authorized through Central Pension Accounting Office (CPAO) functioning under the Controller General of Accounts. CPAO is administering the ‘Scheme for Payment of Pensions to Central Government Civil Pensioners by Authorized Banks (both Public Sector and some Private sector Banks)
How to Open ICICI Direct – New Pension Scheme Account :
Allocate Funds for NPS Investment Log on to your ICICIdirect Account. Go to ‘NPS’ (tab option). Now click on the ‘Modify Allocation’ > Add Amount (you want to invest in NPS) > Minimum should be Rs.500.00 > Click ‘Submit’.
Process for NPS Account :
Its just 4 simple step process, where you need to fill the following info –
First go to ‘Subscribe NPS’ (tab option) > Pop Up > Accept
Step 1 : Personal Information
Here you select following info –
Account Type: Select Tier 1 or Integrated Tier 1 and Tier 2
Category: Government/ Private Sector / Self Employed / Others
CRA SMS Alert (Chargeable): Yes / No
Do you want to nominate for NPS account Tier 1: Yes / No
Step 2 : Details of Nomination
Here you are require to enter nominee and guardian info (Not necessary) –
First, Second and Third Nominee and Guardian Name
Guardian Name is required only if the Nominee is Minor
Step 3 : Scheme Preference
Pension Fund Manager: Here you will select from following options –
1- ICICI Prudential Pension Funds Management Company Limited
2- IDFC Pension Fund Management Company Limited
3- Kotak Mahindra Pension Fund Limited
4- Reliance Capital Pension Fund Limited
5- SBI Pension Fund Funds Private Limited
6- UTI Retirement Solutions Limited
Total Contribution: It should be minimum Rs. 500.00
Equity : Less Than or equal to 50%
Corporate Bonds : %
Government Bonds : %
Total percentage of all the three combined together should be not more than 100%.
Step 4 : Authorization and Declaration
For this process you need to take a print out of the form and dully sign it and send it across to ICICI Direct. You will be provided PRAN allotment letter by CRA.
Amount to e Paid:
ICICI direct will charge Rs.40 for opening an account and Rs.20 for every subsequent transaction.
Some features of the New Pension System (NPS) are as follows :
a. It is a pension system for the non-Government sector.
b. It is open to anyone from 18 years to 60 years of age, including NRIs.
c. The minimum contribution is Rs. 6,000 per year, at Rs. 500 per transaction.
d. There should be a minimum of 1 transactions per year.
e. There is no maximum contribution. The maximum contribution in cash (at ICICI Bank) is Rs. 25,000 per transaction.
f. A subscriber must compulsorily select a pension fund manager (PFM).
Pension Fund Regulatory and Development Authority
First Floor, ICADR Building, Plot No 6,
Vasant Kunj Institutional Area,
Phase- II,Delhi – 110070