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Retail NPS – Benefits

The Retail NPS specially caters to the pension needs of the non-government individuals. The Retail NPS has several benefits:

It offers tax-benefits to the subscribers as per the Income Tax Act.

  • Subscribers are eligible for deduction up to 10% of salary and 20% of the gross total income for self-employed professionals under Section 80CCD(1) to a maximum limit of Rs. 1.5 lakhs. The deduction is within the overall ceiling of Rs. 1.5 lakhs under Section 80CCE
  • For any additional contributions towards the NPS account, subscribers can avail a tax benefit to a maximum limit of Rs. 50,000 under Section 80CCD(1B). This is over and above the limit of Rs. 1.5 lakhs

NPS is a low-cost pension scheme. It has the low administrative charges and fund management fees.

Enrolling for Retail NPS is simple. Subscribers can join NPS either online or offline . They can keep track of their contributions and other transactions online.

NPS subscribers can operate their account from anywhere. It provides a seamless portability across jobs and geographic locations.

The individual contributions of the subscribers are invested in different assets class and provides market-linked returns.

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