NPS Trust – National Pension System Trust

National-Pension-Scheme

National Pension System Trust

National Pension System (NPS) trust is a specialised wing under PFRDA (Pension Fund Regulatory Development Authority) formed under the Indian Trusts Act, 1882. Shri Ashwin Parekh is currently serving as National Pension System Trust Chairman. NPS is a social welfare scheme for distributing pension to private and public sector employees after their retirement. Government employees of Central and State governments along with Public sector units come under NPS.

pension-yojana
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Pension Subscribers on the NPS TRUST website

  • Open an NPS account online with eNPS facility. You just have to log on to this website, http://www.npstrust.org.in. Even NRI subscribers can open their accounts.
NPS Trust
Image Source: www.npstrust.org.in
  • Recent budget announcements bring an additional NPS tax benefit of 50000 plus 1.5 Lakh NPS tax benefits. People can get it as a deduction under Section 80CCE. Therefore, the total tax benefits for NPS under Section 80CCD (1) + Section 80 CCD (1B) are going to be equals to 2 Lakhs for this financial year.
  • Latest data related to NPS returns with year on year comparison on the current holdings of National Pension System Trust.
  • Pension calculator tool on the website for estimating NPS returns after a certain period. Just feed in the amount of voluntary contribution monthly/ yearly and the period of investment. This tool will give you the accurate pension amount you can expect.

NPS Trust Online Services

NPS Trust (National Pension System) providing the online services of the following:

  • You can open a new NPS account
  • You can contribute to your PRAN
  • Activating of Tier – 02 services
  • You can change your personal details at any time
  • You can also change your investment pattern
  • If you want to change your PF (Pension Fund) then you can change it
  • If you have any complaints regarding the NPS trust services then you can lodge your complaint by using these online services.
  • You can download your “Statement of Transaction” (SOT)
  • By using these online services you can exit (or) with draw from NPS Trust

Functions of NPS Trust

The NPS Trustees have the legal ownership of the NPS along with the funds so they have some functions of the following:

  • To execute the personal pension account with his name along with the subscriber
  • Protecting the NPS Trust properties, interests along with its beneficiaries
  • Evaluating and monitoring the service level activities and operations of all intermediaries of govt. nodal offices etc

Important Details of NPS Trust