National Pension System
National Pension System Key Features and Benefits Eligibility How to Enrol Steps for online NPS account opening Fee and charges

Introducing the National Pension System (NPS)

As a leading financial institution committed to empowering our customers with secure and rewarding financial solutions, we are thrilled to introduce the National pension scheme.

 

 

What is the National Pension System (NPS)?

The National Pension System (NPS) is a voluntary, long-term retirement savings scheme designed by the Government of India. It provides individuals with an opportunity to accumulate savings during their working years to secure a steady income post-retirement.

Key Features and Benefits:

Flexible Contributions

  • NPS offers flexibility in contributions, allowing subscribers to invest periodically according to their financial capabilities.

Tax Benefits

  • Enjoy tax benefits under Section 80C and Section 80CCD(1B) of the Income Tax Act, 1961, by investing in the NPS scheme. Additionally, contributions by employers are exempted from tax under Section 80CCD(2).

Choice of Investment

  • Subscribers can choose between various investment options, including Equity (E), Corporate Bonds (C), and Government Securities (G), offering a diversified portfolio tailored to individual risk preferences.

Portability and Accessibility

  • NPS accounts are portable across locations and jobs, providing subscribers with the flexibility to continue their investments seamlessly, irrespective of changes in employment or location.

Regular Income Post-Retirement

  • Upon reaching the age of 60, subscribers can withdraw a portion of the corpus as a lump sum and utilize the remaining amount to purchase an annuity, ensuring a steady income stream during retirement years.

Eligibility

  • You should be a citizen of India, be it a resident, a non-resident or an Overseas Citizen of India.
  • You should be between 18 and 70 years of age.

How to Enrol

  • Enrolling in the NPS scheme through Ujjivan is simple and hassle-free.
  • Click here to login into Internet banking and navigate yourself under investment tab. Then click on NPS to start the enrolment process.

Steps for online NPS account opening:

  • You can enrol for NPS by clicking on 'Online Registration' option under NPS (National Pension System) under investment Tab
  • You will get online form, which needs to be filled with mandatory fields.
  • Your acknowledgement number for registration (account opening) will be generated. There will be provision to complete the registration (account opening) later based on acknowledgement number search.
  • Your KYC will be done through PAN (OTP based authentication) and the address maintained with the existing account of Ujjivan Small Finance Bank. Please ensure the address mentioned is the same as maintained with the bank’s database. Aadhaar-based KYC verification can also be opted as per your convenience.
  • Enter your remaining details like bank details, scheme details, nominee details, etc.
  • You need to upload photograph, signature, Cheque and PAN
  • Enter the contribution amount (the amount you want to invest in NPS) and click for payment.
  • Once done, you will be directed to online payment platform wherein you will complete the payment through any net-banking option of an existing bank.
  • On successful payment, PRAN will be allotted to you and PDF form will be generated based on data given. This can be saved for reference.
  • You will also have the option of e-Sign/dual OTP authentication. Once eSign/dual OTP authentication is completed, the physical form need not be submitted.

For any queries kindly reach out to Ujjivan SFB Phone Banking unit.

Fees and charges

  • POP Charges
Charge structure applicable from 01.01.2026 for Common Schemes (All Citizen) including NPS Vatsalya and NPS Lite
ParticularsCharges
One Time Onboarding chargeRs. *200/- per new account (equivalent of Rs. 50/- on quarterly basis will be deducted through cancellation of units by CRA/s and payable to PoP in the month subsequent to the quarter in which on-boarding is completed).
Annual charges0.20% p.a. of the AUM to be adjusted through NAV and payable to PoP on quarterly basis, in accounts other than Dormant accounts. This shall be applicable to all existing NPS accounts as well.

Notes:

i. GST or other taxes as applicable, shall be additional.

ii. Dormant Account will not be charged. Dormant account is defined as such account where subsequent to a contribution in a quarter, there is no contribution for four consecutive quarters as identified at the end of each quarter.

iii. *Where subscriber onboarding is undertaken through a fully digital and non-face-to-face mode, between the Point of Presence (PoP) and the subscriber, a reduced one-time onboarding charge of Rs. 100/- may be applicable, as may be determined by the Authority at the time of registration of PoP and thereafter

 

PFRDA Ombudsman Details

The Pension Fund Regulatory and Development Authority (PFRDA) has appointed an Ombudsman to receive, consider and facilitate resolution of complaints or grievances under the ambit of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 and amendments thereof.

Contact Details: The Office of Ombudsman

Pension Fund Regulatory and Development Authority,
Tower E, 5th Floor, E-500, World Trade Center
Nauroji Nagar, New Delhi - 110029
Phone No.: 011-4071 7900
Email Id: ombudsman[@]pfrda[dot]org[dot]in

Click here to download PFRDA Ombudsman Details.

TAT for NPS Activities

NPS D Remit Facility

NPS and APY Grievance Redressal Mechanism

Facility for Systematic Lumpsum Withdrawal for NPS subscribers

Inter CRA shifting form

Rationalization of Nomenclature of Auto Choice / Life Cycle Funds under the NPS & Multiple Choices of Investment under Common Schemes.