Delayed

    National Pension System (NPS)

    As per a recent PRFDA circular, I-Sec as a POP shall not be able to offer NPS Swavalamban Scheme to its customers since the same cannot be offered by POPs w.e.f. 01/10/2013.
    Existing NPS subscribers
    Invest additional 50,000/- and save tax up to 15,450/-*
    * Calculated at the highest tax slab rate applicable for F.Y. 2016-17
     
    New NPS subscribers
    Let your second innings be a new beginning to happiness
    Invest in NPS for a peaceful retirement


    Pension Fund Regulatory and Development Authority (PFRDA) was established by the Government of India on August 23, 2003 to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.

    The NPS is a new vouluntary contributory pension scheme introduced by the Central Government . Under the National Pension System , individuals can open a personal retirement account and can accumulate a pension corpus during their work life to meet financial needs post retirement. These contributions would grow and accumulate over the years, depending on the returns earned on the investment made. When the person retires, he will be able to use these savings to take care of the needs and expenses of his family during old age.The subscribers may use the accumulated pension wealth under the scheme to purchase a life annuity from a life insurance company. Alternatively, depending on the age of the subscriber, a part of the wealth may be withdrawn as lump-sum.

    ICICI Securities Limited (I-Sec) has obtained the Point of Presence (POP) Registration Certificate from PFRDA to offer NPS accounts. Any individual customer of icicidirect.com desiring to open an NPS account t can do so by clicking on "Subscribe NPS" and fulfilling the prerequisite process. The offer document containing details of the NPSfor opening NPS account are available on the website of PFRDA (www.pfrda.org.in) as well as icicidirect.com.

    Under NPS, following two types of accounts will be available to you:

    Tier I account : You shall contribute your savings for retirement into this non-withdrawable account. Tier I account is available online and you can apply by logging in to your ICICIdirect.com Account (Click "Subscribe NPS" link under the NPS >> Transact section). You can also open the account by visiting the nearest store.

    Tier II account : This is a voluntary savings facility. You will be free to withdraw your savings/redeem your Tier II units from this PRAN account whenever you wish. To open this account an active Tier I account is a prerequisite. Tier II account is available online and you can apply by logging in to your ICICIdirect.com Account. Click "Subscribe NPS Tier II". You can also open the account by visiting the nearest store.

    Attention Investors : Prevent unauthorized transactions in your account −> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day..... Issued in the interest of Investors. (Ref NSE : Circular No.: NSE/INSP/27346, BSE : Notice 20140822-30).
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