Tier-I Account: The Foundation of NPSThe NPS Tier-1 account is the fundamental account, designed specifically for long-term retirement planning. To open a Tier-1 account, you must contribute a ...

National Pension System (NPS) is a defined contribution pension system. NPS schemes have two options. Tier 1 and Tier 2. Tier 1 has a longer lock in period (15 years for even partial withdrawal ...

You can open two types of NPS accounts: Tier I and Tier II ... on up to Rs 2 lakh per annum investment under Section 80C (Rs 1.5 lakh) and subsection 80CCD (1B) (additional Rs 50,000).

NPS Vatsalya is a savings-cum-pension scheme regulated by the Pension Fund Regulatory Authority of India (PFRDA).

Also, the concept of allowing the minor to convert the account to a regular NPS tier-1 account after attaining 18 years of age, gives a long leeway to generating a substantial corpus. Despite ...

You can open a Tier II account only if you have a ... This withdrawal is also tax-free. How to get Rs 1 lakh pension on investing in NPS? Suppose you start investing in NPS at the age of 20 ...

As per the Finance Bill, a deduction would be allowed to the parent/guardian’s total income, of the amount paid or deposited in the account of any minor under the NPS to a maximum of Rs 50,000/- ...

transferred to the child's name with the accumulated corpus and will be shifted to the NPS-tier 1 account. Budget 2025: Madhubani artist Dulari Devi elated after FM Sitharaman wears saree gifted ...