Bottom Ad

What is NPS - Swavalamban ? How different is NPS - Swavalamban from other products l

NPS -Swavalamban Model is designed to ensure ultra-low administrative and transactional costs, so as to make small investments viable. Swavalamban Yojana is a scheme announced by the Government of India under which Government will contribute Rs. 1000 per year to each NPS – Swavalamban account opened in years 2010-2011,2011-2012,2012-2013 for five years as under.

 Accounts opened in 2010-2011 will get the benefit till 2014-2015

 Accounts opened in 2011-2012 will get the benefit till 2015-2016

 Accounts opened in 2012-2013 will get the benefit till 2016-2017

NPS – Swavalamban account opened in the period 2013-2014 to 2016-2017 will get the

Swavalamban benefits up to 2016-17.

How different is NPS - Swavalamban?

NPS - Swavalamban is a pension product to ensure a monthly income after the retirement age has been attained.

NPS - Swavalamban invests a portion of the contributions in the equity (stock) market and

hence there are possibilities of returns much higher than what banks & similar financial

institutions are able to offer. A portion of the corpus is invested in equity markets which

enables the corpus to grow quickly. However, unlike other equity-based investment schemes where the risk of losing money is high, in NPS - Swavalamban; the risk is reduced considerably as up to 55% of the money is invested in Government securities and up to 40% in corporate bonds.

Who can subscribe to NPS -Swavalamban?

A citizen of India, who belongs to the unorganized sector, can open NPS -Swavalamban account

based on the following conditions:

1. Should be between 18 – 60 years of age as on the date of submission of his/her application

by Aggregator.

2. Should comply with the KYC process carried out by an Aggregator.

3. Subscriber should not covered under social security scheme like Employees’ Provident Fund and

Miscellaneous Provision Act , The Coal Mines Provident Fund and Miscellaneous Provision Act etc

Post a Comment

* Please Don't Spam Here. All the Comments are Reviewed by Admin.

buttons=(Accept !) days=(20)

We use technical and analytic cookies to give you the best experience. Learn More
Accept !