Features

Secure Your Retirement with a Regulated & Flexible Pension Plan

The National Pension Scheme (NPS) is a government-backed, voluntary retirement savings program designed to help individuals build a stable financial future. Introduced by the Government of India for all citizens on May 1, 2009, and extended to the corporate sector in December 2011, NPS enables long-term, disciplined retirement planning.

Every individual who enrolls in NPS is known as a subscriber and is allotted a unique Permanent Retirement Account Number (PRAN), issued by the Central Recordkeeping Agency (CRA).

Types of NPS Accounts

Tier I Account (Mandatory)

A dedicated, non-withdrawable retirement account where subscribers contribute regularly to build a long-term pension corpus. Employer contributions are also allowed under the corporate model.

Tier II Account (Voluntary)

A flexible savings account that allows deposits and withdrawals at any time.

Note: An active Tier I account is required to open a Tier II account.

Why Choose NPS?

The National Pension Scheme is designed to promote systematic savings and offers a blend of flexibility, transparency, and security. It allows subscribers to invest according to their risk appetite while enjoying portability across locations and jobs.

The Nainital Bank Limited is registered with PFRDA (Pension Fund Regulatory and Development Authority) as a Point of Presence (POP) and Aggregator under the All Citizen Model. We facilitate NPS account opening (Tier I and Tier II) and accept regular contributions across all our branches.

To register, simply visit any Nainital Bank's branch with valid identity proof, address proof, and age proof to complete the NPS enrollment process.

Benefits of the National Pension Scheme

• Voluntary Participation: Open to all Indian citizens with the freedom to choose your yearly contribution.
• Easy to Open: Visit any branch, complete registration, and receive your PRAN.
• Flexible Investment Choices: Select your preferred investment option and pension fund manager.
• Regulated & Transparent: Fully regulated by PFRDA with continuous monitoring and transparent norms.

Eligibility – Who Can Subscribe?

Any Indian citizen, whether resident or non-resident/Overseas Citizen of India (OCI), can apply for an NPS account. Applicants must be between 18 and 70 years of age at the time of submitting the application.

Subscribers can continue their NPS account up to the age of 75 years.

Individuals can join NPS either under an employee–employer (corporate) group or as individual subscribers, subject to furnishing required information and KYC documentation.

Please contact the nearest branch to know more