National Pension System (NPS) is a government-backed, market-linked voluntary savings scheme run under the Pension Fund Regulatory and Development Authority (PFRDA). It is one of the simplest and most flexible ways to build a retirement corpus for old age.
Any Indian citizen between 18 and 60 years of age can open an NPS account. The scheme is open to everyone, including government staff, private sector employees, and self-employed people, and the latest guidelines are available in PDF format on the official NPS CRA website.
National Pension System (NPS) Scheme
NPS is a defined contribution scheme where the subscriber puts in money regularly during the working years. The amount is invested in market-linked funds, and the total corpus grows over time. On retirement, the subscriber gets a lump sum amount along with a monthly pension.
The scheme is simple, portable, and flexible. Subscribers can pick their own investment option and pension fund manager, and the account can be moved easily when changing jobs. NPS also offers tax benefits under the Income Tax Act, which makes it a strong choice for retirement planning.
Eligibility to Join NPS
Any Indian citizen between 18 and 60 years of age can enroll in NPS. No entry is allowed after 60 years. To enroll, the subscriber needs to submit the Registration Form (UOS-S1) to a Point of Presence (POP-SP) of their choice. The form is available from POP-SPs and on the PFRDA website at pfrda.org.in.
Types of Accounts in NPS Scheme
Once the Permanent Retirement Account Number (PRAN) is issued, the subscriber gets access to two accounts under NPS.
- Tier-I pension account: This is the main retirement account where the subscriber contributes savings for old age. Withdrawals from this account are not allowed before retirement, except in certain special cases.
- Tier-II savings account: This is a voluntary savings facility. The subscriber can withdraw money from this account whenever needed, which makes it a flexible option for extra savings.
NPS Sanchay Scheme
In 2026, PFRDA launched NPS Sanchay, a simplified variant of NPS under the informal sector model. It is made for informal workers and reduces the complexity of choosing investment options and fund allocation. The investment pattern follows the same rules as other government pension schemes like NPS, APY, and UPS.
How to Apply Online for NPS
STEP 1 - Go to the official NPS CRA website at npscra.proteantech.in and click on the option to open an NPS account.
STEP 2 - Choose the subscriber type (All Citizen, Corporate, or Government) and fill in the required personal details like name, date of birth, and contact information.
STEP 3 - Complete the KYC verification by uploading the required documents such as Aadhaar, PAN, and bank details.
STEP 4 - Select the investment option and pension fund manager, then make the first contribution to activate the account.
STEP 5 - After the payment, the PRAN is generated and the subscriber can track the account online. For help, the NPS toll-free number is 1800 210 0080.
Highlights of NPS Scheme
| Detail | Information |
|---|---|
| Scheme Name | National Pension System (NPS) |
| Launched By | Government of India under PFRDA |
| Beneficiaries | Indian citizens aged 18 to 60 |
| Account Types | Tier-I and Tier-II |
| Application Mode | Online and offline |
| Official Website | npscra.proteantech.in |
| Helpline | 1800 210 0080 |
For those in the unorganized sector, Atal Pension Yojana offers a guaranteed minimum pension with a simple monthly contribution. NPS also has a separate variant called NPS Vatsalya for minors, which helps parents start a pension fund for their children.
FAQ's
Who can join NPS?
Any Indian citizen between 18 and 60 years of age can open an NPS account. No entry is allowed after 60 years.
What is the difference between Tier-I and Tier-II accounts?
Tier-I is the main retirement account where withdrawals are not allowed before retirement. Tier-II is a voluntary savings account where money can be withdrawn anytime.
What is NPS Sanchay?
NPS Sanchay is a simplified variant of NPS launched in 2026 for informal workers, with easier investment options and lower complexity.
Where can I download the NPS form?
The NPS registration form is available from POP-SPs and on the PFRDA website at pfrda.org.in.