The National Pension Scheme (NPS) is a retirement oriented saving scheme launched by the Pension Fund Regulatory and Development Authority (PFRDA) in 2004. Citizens between ages 18-60 are eligible to open an NPS account and build a good retirement corpus.
NPS accounts can be opened offline as well as online. To open an NPS Account Offline, visit the nearest Point of Presence (POPs) registered under PFRDA to obtain the registration form. POPs are certain banks and financial institutions appointed by the PFRDA to provide services to customers under the NPS scheme.
Subscription to NPS Scheme, changing fund manager, and all related services under NPS are services that are provided at these POPs. To subscribe to NPS Scheme, you will need to fill some basic details in the application form and provide the 'Know Your Customer' (KYC) documents including Aadhaar Card, PAN Card, address proof etc.
POP will send a Permanent Retirement A/c Number (PRAN) and a password in the sealed welcome kit. There is a one-time registration fee of Rs. 125.