All NPS Schemes

241 schemes · NAV as on 03 May 2026

NPS at a Glance

What is NPS (National Pension System)?

NPS is a voluntary, defined-contribution pension scheme regulated by PFRDA (Pension Fund Regulatory and Development Authority). Open to Indian citizens aged 18–70, it lets you invest across Equity, Corporate Bonds, and Government Securities via your chosen Pension Fund Manager. At age 60, up to 60% of the corpus can be withdrawn tax-free; the remaining 40% purchases a life annuity.

Who should invest in NPS?

NPS is well suited for salaried employees, self-employed professionals, and business owners seeking disciplined, long-term retirement savings. It is especially valuable for taxpayers who have already used the ₹1.5 lakh Section 80C limit — NPS offers an additional exclusive deduction of ₹50,000 per year under Section 80CCD(1B), available over and above the 80C ceiling.

What are the tax benefits of NPS?

Contributions qualify under Section 80CCD(1) within the shared ₹1.5 lakh 80C limit. Additionally, up to ₹50,000 per year is exclusively deductible under Section 80CCD(1B) — this deduction is over and above 80C. Employer contributions up to 10% of basic salary (14% for Central Govt employees) are deductible under Section 80CCD(2) with no upper cap for government employees.

What is a PRAN?

A PRAN (Permanent Retirement Account Number) is the unique 12-digit identifier assigned to every NPS subscriber at the time of enrollment. It stays the same across job changes, cities, and employers throughout your working life. Both your Tier I (pension) and optional Tier II (savings) accounts are linked to the same PRAN.

How does Tier I differ from Tier II in NPS?

Tier I — Pension Account Tier II — Savings Account
Account typeMandatory; tax-benefitedOptional; no lock-in
Tax deductionYes — 80CCD(1) + 80CCD(1B)No (except Central Govt employees)
WithdrawalsRestricted until age 60Anytime, no restrictions
At age 60Up to 60% lump sum (tax-free); min 40% → annuityFull withdrawal permitted
Minimum/year₹1,000₹250
PurposeLong-term retirement corpusFlexible short-term savings
Income Tax Act ss. 80CCD(1), 80CCD(1B), 80CCD(2) · PFRDA regulations. Full NPS FAQ →