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About NPS
Overview & Understanding

A Government of India initiative

The Government of India authorized Pension Fund Regulatory and Development Authority (PFRDA) to extend New Pension System (NPS) on a voluntary basis to all citizens of India. It is one of the significant social security measure introduced by the Government of India.

Pension Fund Regulatory and Development Authority (PFRDA) is the prudential regulator for the NPS. PFRDA was established by the Government of India on 23 August 2003 to promote old age income security by establishing, developing and regulating pension funds. PFRDA has set up a Trust under the Indian Trusts Act, 1882 to oversee the functions of the PFMs. The NPS Trust is composed of members representing diverse fields and brings wide range of talent to the regulatory framework

ISSL has been appointed as a Point of Presence (POP) to act as the customer interface for non-government subscribers / individual citizens who wish to open Permanent Retirement Account (PRA) with Central Record Keeping Agency (CRA) for the purpose of subscribing to the NPS

Salient features

  • To provide old age income
  • Reasonable market based returns over the long term
  • Extending old age security coverage to all citizens.

Benefits of Joining NPS

  • It is voluntary - NPS is open to every Indian citizen. You can choose the amount you want to set aside and save every year.
  • It is simple - all you have to do is open an account with any one of the POP and get a PRAN.
  • It is flexible - You can choose your own investment option and Pension Fund and see your money grow.
  • It is portable - You can operate your account from anywhere in the country, even id you change your city, job or your pension fund manager.
  • It is regulated - NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and performance review of fund managers by NPS Trust.
  • It is economical - NPS offers Indian citizens a low cost option for planning their retirement. A 0.0009% fee (based on assets under management) for managing your wealth makes pension funds under NPS the world's lowest cost money managers.

1. What is retirement planning and how to ensure an independent life even when one retires from active work life?

Retirement planning involves disciplined saving, vigilant investment to build a sufficient retirement corpus and its judicious drawdown in the post-retirement phase. This is achieved by joining a pension/retirement plan at an early stage in one’s life so that when a person retires from active work life, he gets a regular stream of income in the form of pension or annuity for his life.

2. What are the pension plans available in India?

National Pension System (NPS) which is administered and regulated by Pension Fund Regulatory and Development Authority (PFRDA) created by an Act of Parliament. Besides the NPS, some mutual funds and insurance companies also offer Pension plan or retirement plan, which are not under the jurisdiction of PFRDA. Apart from this the normal retirement plan options include EPFO, Retirement gratuity etc. is offered by employers to their workers and employees.

3. What is National Pension System (NPS)?

National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable the subscribers to make optimum decisions regarding their future through systematic savings during their working life. NPS seeks to inculcate the habit of saving for retirement amongst the citizens. It is an attempt towards finding a sustainable solution to the problem of providing adequate retirement income to every citizen of India.

  • Under the NPS, individual savings are pooled in to a pension fund which are invested by PFRDA regulated professional fund managers as per the approved investment guidelines in to the diversified portfolios comprising of government bonds, bills, corporate debentures and shares. These contributions would grow and accumulate over the years, depending on the returns earned on the investment made.
  • At the time of normal exit from NPS, the subscribers may use the accumulated pension wealth under the scheme to purchase a life annuity from a PFRDA empanelled life insurance company apart from withdrawing a part of the accumulated pension wealth as lump-sum, if they choose so.

4. What are the advantages in joining NPS?

  • Flexible - NPS offers a range of investment options and choice of Pension Fund Manager (PFMs) for planning the growth of your investments in a reasonable manner and see your money grow. Individuals can switch over from one investment option to another or from one fund manager to another subject, of course, to certain regulatory restrictions. The returns being totally market-related.
  • Simple – Opening an account with NPS provides a Permanent Retirement Account Number (PRAN), which is a unique number and it remains with the subscriber throughout his lifetime. The scheme is structured into two tiers:
    • Tier-I account : This is the non-withdrawable permanent retirement account into which the accumulations are deposited and invested as per the option of the subscriber.
    • Tier-II account : This is a voluntary withdrawable account which is allowed only when there is an active Tier I account in the name of the subscriber. The withdrawals are permitted from this account as per the needs of the subscriber as and when claimed.
  • Portable - NPS provides seamless portability across jobs and across locations, unlike all current pension plans, including that of the EPFO. It would provide hassle-free arrangement for the individual subscribers.
  • Regulated - NPS is regulated by PFRDA, with transparent investment norms, regular monitoring and performance review of fund managers by NPS Trust.

The NPS is a sophisticated innovation that is based on the world's best practices in the pension sector.

  • NPS is based on Personal retirement accounts (PRAs) created for individual members. NPS accumulates savings into subscriber's PRA while he is working and use the accumulations at retirement to procure a pension for the rest of his life.
  • NPS architecture consists of NPS Trust which is entrusted with safeguarding subscribers interests, a Central Recordkeeping Agency (CRA) which maintains the data and records, Point of Presence (POP) and aggregators as collection and distribution arms, competing pension fund managers for generating and maximizing returns on investments of subscribers, custodian to take care of the assets purchased by the Fund managers and Trustee bank to manage the banking operations.
  • NPS has an unbundled Architecture, with inbuilt checks and balances, where each function is performed by a different entity which is renowned in its area, to achieve maximum operational efficiency and at a low cost.
  • NSDL is acting as Central Record Keeping agency (CRA) which is associated with various national level projects for recordkeeping functions.
  • Renowned Financial Institutions covering Public/Private Sector Banks, NBFC, etc., acting as POPs and Aggregators .
  • Funds are managed by professional Fund Managers from Public & Private sector with proven track record and as per the PFRDA approved investment guidelines. At present there are 8 pension fund managers managing the pension wealth of subscribers. They are :
    • HDFC Pension Management Co. Ltd **
    • ICICI Prudential Pension Fund Management Co. Ltd.
    • Kotak Mahindra Pension Fund Ltd.
    • LIC PensionFund Ltd.
    • Reliance Capital Pension Fund Ltd.
    • SBI Pension Funds Pvt. Ltd
    • UTI Retirement Solutions Ltd
    • Pension Fund (PF) to be incorporated by Birla Sunlife Insurance Co. Ltd
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Location Name Address Contact Numbers
Delhi - East of Kailash Mr. Ganesh Jha
Mr. Pawan Khandelwal<
10, Community Centre
II Floor, East of Kailash,
New Delhi - 110 065
Phone : 011- 49947000/35,26433845/46/47
Fax : 011- 26443912
 
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Delhi - East of Kailash Mr. Ganesh Jha
Mr. Pawan Khandelwal<
10, Community Centre
II Floor, East of Kailash,
New Delhi - 110 065
Phone : 011- 49947000/35,26433845/46/47
Fax : 011- 26443912
 
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Chandigarh Mr. Sanjay Dabas IL&FS Securities Services Ltd. S.C.O- 333-334,
First floor Sector 35-B,
Chandigarh 160035
Phone : 0172- 4674698,2600532,2600535,2600533
Fax : 0172-4674697
 
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Chandigarh Mr. Sanjay Dabas IL&FS Securities Services Ltd. S.C.O- 333-334,
First floor Sector 35-B,
Chandigarh 160035
Phone : 0172- 4674698,2600532,2600535,2600533
Fax : 0172-4674697
 
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Jaipur Mr. Manoj K Jain No.606, 6th Floor,
Green House, Ashok Marg,C-Scheme,
Jaipur-302001
Phone : 0141-2372284 / 2372285
Fax : 0141-2372287
 
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Jaipur Mr. Manoj K Jain No.606, 6th Floor,
Green House, Ashok Marg,C-Scheme,
Jaipur-302001
Phone : 0141- 2372284 / 2372285
Fax : 0141- 2372287
 
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Pune Pradnya Upasani
IL&FS Securities Services Ltd,
Upper Ground Floor Office No-106,
Ackruti Sankul 2059 Sadashiv Peth,
Pune 411030
Phone : 020- 24333350/360
 
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Pune Pradnya Upasani
IL&FS Securities Services Ltd,
Upper Ground Floor Office No-106,
Ackruti Sankul 2059 Sadashiv Peth, Pune 411030
Phone : 020- 24333360/350
 
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Kolkata Mr. Samir Ghosh Central Plaza
7th Floor,Room No.702,Central Plaza,
2/6 Sarat Bose Road,
Kolkata 700020
Phone : 033 - 44076000/10/11
 
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Kolkata-Central Plaza Mr. Rajesh Bhattacharjee
Mr. Samir Ghosh
Mr. Jatin Sangani
Central Plaza
702, 2/6, Sarat Bose Road,
Kolkata 700020
Phone : 033 44076000
Fax : 033-44076020
 
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Bandra Mr.Kirti Kadam Basement Lower Down Office
Oracle Point, 3 Gurunanak Road
Opp Bandra Railway Station
Bandra (W),Mumbai 400 050
Phone : 022-26412236/37
Fax : 022-26412236
 
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Andheri Ms. Mona Sundar IL&FS House Plot No.14,
Raheja Vihar, Chandivali,
Andheri (E),
Mumbai - 400 072
Phone : 022-42493000
Fax : 022-28570948/49
 
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Borivali Mr. Sashi Tanawade Patel Shopping Centre,
Shop No.25, Ground Floor ,
Chandawarkar Lane, Borivali (W),
Mumbai-400092
Phone : 022-28917161
Fax : 022-28917161
 
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Fort Mr. Pramod Bandagle 20 Rajabahadur Mansion Ambalal Doshi Marg 1st floor,
Hamam Street Behind BSE,
Fort
Mumbai - 400 023
Phone : 022- 43563700
 
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Ghatkopar Mr. Balvant Khopade 2-B Ground Floor,
Kailash Plaza Building,
Behind Raymond Showroom,
Vallabh Baug Lane,Ghatkopar,
Mumbai - 400 077
Phone : 022-25017835
Fax : 022-25017835
 
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Mumbai - Bandra Mr. Santosh Mishra Basement Lower Down office,Oracle Point,
3 Gurunanak Road, Opp Bandra Railway Station,
Bandra W, Mumbai 400 050
Phone : 022-26412236/37
Fax : 022-26412236
Mumbai - Chandivali Ms. Sripriya Kannan IL&FS House Plot No.14,
Raheja Vihar, Chandivali,
Andheri (E),
Mumbai - 400 072
Phone : 022-42493000
203/205/207/211/222
Fax : 022-28570948/49
Mumbai - Kalaghoda Mr. Santosh Mishra
Mr. Ajith Kumar
Mr. Rajesh Kumar
20 Rajabahadur Mansion Ambalal Doshi Marg 1st floor,
Hamam Street Behind BSE,
Fort
Mumbai - 400023
Phone : 022-43563700
Fax : 022- 43563727
 
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Worli Mr.Aniket Ramesh Panvakar Madhur Business Centre,
554, Shop No. 4 Ground Floor,
Dr. G.M Bhosle Marg, Worli,
Mumbai - 400 018
Phone : 022-24961630
Fax : 022-24961630
 
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Hyderabad Ms. H V Srividya Shop No.201, 2nd Floor,
OLBEE Centre,
H. No.6-3-1090/A/24, Raj Bhavan Road,
Somajiguda,
Hyderabad-500082
Phone : 040-66252242
Fax : 040 66252243
 
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Hyderabad Ms. H V Srividya Shop No.201, 2nd Floor,
OLBEE Centre,
H. No.6-3-1090/A/24, Raj Bhavan Road,
Somajiguda,
Hyderabad-500082
Phone : 040-66252242
Fax : 040 66252243
 
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Bengaluru - Stock Exchange Towers Ms. Kavitha Kanthan
Mr. Seshadri Iyengar
Mr. Prakash V
Mr. Ramesh N
Stock Exchange Towers,
51, 1st Cross, J. C. Road,
Bengaluru - 560 027
Phone : 080-43464000/24
Fax : 080-22995258
 
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Bengaluru - Stock Exchange Towers Ms. Kavitha Kanthan
Mr. Prakash V
Stock Exchange Towers,
51, 1st Cross, J. C. Road,
Bengaluru - 560 027
Phone : 080-43464000/24
Fax : 080-22995258
 
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Mangalore Ms. Gauri Bhandarkar #3rd Floor, Rama Bhavan
Complex, Kodialbail,
Mangalore- 575003
Phone : 0824 - 2411425/26/ 28
 
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Mangalore Ms. Gauri Bhandarkar #3rd Floor, Rama Bhavan
Complex, Kodialbail,
Mangalore- 575003
Phone : 0824 - 2411425/26/ 28
 
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Chennai Mr. Yuvaraj V IL&FS Securities Services Ltd ,Flat 3 C Kences Tower,
(Above Croma Showroom) Block No.9, No.1, Ramakrishnan Street,
North Usman Road,( Near Joyallukas Building) T.Nagar,
Chennai - 600 017.
Phone : 044- 45965000
Fax : 044- 42187679
 
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Chennai Mr. Yuvaraj V IL&FS Securities Services Ltd ,Flat 3 C Kences Tower,
(Above Croma Showroom) Block No.9, No.1, Ramakrishnan Street,
North Usman Road,( Near Joyallukas Building) T.Nagar,
Chennai - 600 017.
Phone : 044- 45965000
Fax : 044- 42187679
 
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Coimbatore Mr. R Sampath IL&FS Securities Services Ltd,
424-E, 2nd Floor,
Red Rose Towers, D B Road,
R S Puram,
Coimbatore 641002,
Tamil Nadu
Phone : 0422-4367807/0422-4216657
 
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Coimbatore Ms.R Suganya IL&FS Securities Services Ltd,
424-E, 2nd Floor,
Red Rose Towers, D B Road,
R S Puram,
Coimbatore 641002,
Tamil Nadu
Phone : 0422-4367807/0422-4216657
 
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GOA Mr. Venkatagiri Udupa Shop # 8, "CASA NINA" La Campala Colony ,
opp Krishi Bhavan Miramar,
La Campala Colony ,
Panaji
Goa 403001
Phone : 0832-6511217/6511218
Mobile : 9845753224
Fax : 0832-2422665
 
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Kochi Mr. A Kamalakannan IL&FS Securities Services Ltd,
39/4967 USNAZ Towers, 3rd Floor,
Medical Trust Hospital Junction
Pallimukku, M G Road,
Kochi - 682 016
Phone : 0484-4028066
Fax : 0484-4028099
 
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Kochi Mr. A Kamalakannan IL&FS Securities Services Ltd,
39/4967 USNAZ Towers, 3rd Floor,
Medical Trust Hospital Junction
Pallimukku, M G Road,
Kochi - 682 016
Phone : 0484-4028066
Fax : 0484-4028099
 
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GOA Mr. Venkatagiri Udupa IL&FS Securities Services Limited,
Shop no 8, "Casa Nina"
La Campala Colony ,
Miramar, Panaji
Goa - 403001
Phone : 0832- 6511217,6511218
Mobile : 9845753224
Fax : 0832-2422665
 
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Amritsar Mr.Sanjiv Sharma
IL&FS Securities Services Limited,
Plot No.77, Room No.1,
Mani Market, 2nd Floor,
Railway Link Road,
Amritsar - 143001
Phone : 018-36545801
 
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Bhavnagar Ms.Jigna Kalsara Office No. 220-221 Sterling Point,
Nr. Central Salt (CSMCRI),
Waghawadi Road ,
Bhavnagar –364002.
Phone : 0278-6452348/9
 
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Calicut Mr.ANITHAN K C, IL&FS Securities Services Limited,
Office no. 4/269, Ground Floor,
A1, Rashy Apartments,
Near 5th Railway Gate,
Vellayil,
Calicut – 673032
Phone : 0495-6452208
 
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Durgapur Mr.Utpal Chakraborty IL&FS Securities Services Limited,
P-42, 1st Floor,Recol Park,
Near Sidhu Kanu Indoor Stadium,
Durgapur - 713216
Phone : 0343-6456635/36
 
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Indore Mr. Vipul Lashkari UG-9 ,City Plaza,
564-MG Road,
Indore-452001.
MobileNo: 09926666020
Phone : 0731-4971528
0731-4245517
 
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Patiala Mr.Balwinder Kumar IL&FS Securities Services Limited,
Showroom No.SCO29,
New Leela Bhawan, 3rd Floor,
Patiala
Phone : 0175-6534809
 
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Rajkot Mr. Mehul Savaliya IL&FS Securities Services Limited.
Everest Complex, 102, 1st floor,
Opposite Shastri Maidan,
Near Limda Chowk,
Rajkot-360001
Phone : 0281-6451993/94
 
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Surat Mr. Bhavik Shukla Shop # 213,Jolly Plaza,
2nd Floor, Athwa Gate,
Opp.Athwa Gate Police Stn,
Surat-395001,Gujrat
Phone : 0261-6452308 / 0261-6452309
 
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Ahmedabad Mr.Hasit Desai/Shailam Dave IL&FS Securities Services,
Ltd 209/A,
2nd Floor Abhishree Complex,
Jodhpur Satelite
Ahmedabad - 380015
Phone : ( 079 ) 40070511/ 40070512
Fax : ( 079 ) 40070512
 
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Location Name Address Contact Numbers
Ahmedabad Mr. Hasit Desai/Shailam Dave IL&FS Securities Services,
Ltd 209/A,,
2nd Floor Abhishree Complex,
Jodhpur Satelite,
Ahmedabad - 380015,
Phone : ( 079 ) 40070511/ 40070512
Fax : ( 079 ) 40070512
 
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Trichy Mr. Anandh G, IL&FS Securities Services Limited,
Shop No.60/2, 1st Floor,
Sastri Road, Tennur (Thillainagar),
Trichy - 620017
Phone : 0431-6450428
 
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Vadodara Mr. Harshal Shukla 301,Gokulesh - II,
Opp : Ivory Terrece,
R C Dutt Road, Alkapuri,
Vadodra,Gujarat - 390005.
Phone : 0265-6451103 / 0265-6451104
 
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