Nps sbi

Hii sir, I wants to give the Information About the new Pension Scheme of the State bank of India ?

[shikha]

New Pension System is a voluntary contribution of funds for a sustained
period of time (till the age of 60years) to enable him to draw pension after he
attains 60 years of age


Features :

NPS is a voluntary Pension System of Pension Fund Regulatory and Development Authority (PFRDA) open to all citizens in the age group of 18-60 years.
The Scheme is operative from 01.05.2009.
The objective is to provide old age pension; reasonable market based returns over long term
Bank designated branches i.e. Point of Presence-Service Provider (POP-SP) accept the application form and get the subscribers registered with Central Record keeping Agency (CRA) for generation of the Permanent Retirement Account Number (PRAN).
The PRAN will be quoted in all future transactions.
There are two models i.e. Tier I and Tier II.
Tier-I account is where you contribute your savings for retirement into a non-with drawable account till you reach 60 years and draw pension for the rest of your life.

Age Limit
The scheme is open to people between age 18 to 60 years


Minimum contribution at the time of account opening -Rs.1000/-
Minimum amount per contribution - Rs. 250/-
Minimum Account Balance at the end of FY-Rs. 2000/-
Minimum number of contributions in a year - One


For more details you may Visit the Nearest branch of the State bank of India