NPS

Select Menu

Tax Benefit - An additional deduction for investment up to Rs. 50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B). This is over and above the deduction of Rs. 1.5 lakh available under section 80C of Income Tax Act. 1961.

Who can apply - Any individual citizen of India (both resident and Non-resident) in the age group of 18-70 years (as on the date of submission of NPS application) can join NPS.

NPS account can be opened only in individual capacity and cannot be opened or operated jointly or for and on behalf of HUF

Nomination is Mandatory. Subscriber can appoint upto 3 nominees, in this case the percentage share for each nominee should be in whole numbers and must be equal to 100.

NPS exit -
- Upon Superannuation - When a subscriber reaches the age of Superannuation/attaining 60 years of age, he or she will have to use at least 40% of accumulated pension corpus to purchase an annuity that would provide a regularmonthly pension. The remaining funds can be withdrawn as lump sum. If the total accumulated pension corpus is less than or equal to Rs. 5 lakh, Subscriber can optfor 100% lumpsum withdrawal.
- Pre-mature Exit - In case of pre-mature exit (exit before attaining the age of superannuation/attaining 60 years of age) from NPS, at least 80% of the accumulated pension corpus of the Subscriber has to be utilized for purchase of an Annuity that would provide a regularmonthly pension.The remaining funds can be withdrawn as lump sum.However, you can exit from NPS only after completion of 10 years.If the total corpus is less than or equal to Rs. 2.5 lakh, Subscriber can optfor 100% lumpsum withdrawal.
- Upon Death of Subscriber - The entire accumulated pension corpus (100%) would be paid to the nominee/legal heir of the subscriber.

Partial Withdrawal -
- Subscriber should be in NPS atleast for 3 years
- Withdrawal amount will not exceed 25% of the contributions made by the Subscriber
- Withdrawal can happen maximum of three times during the entire tenure of subscription.
- Withdrawal is allowed only against the specified reasons, for example; Higher education of children,Marriage of children,For the purchase/construction of residential house (in specified conditions),For treatment of Critical illnesses

Annuity / Pension - In the context of NPS, Annuity refers to the monthly sum received by the Subscriber from the Annuity Service Provider (ASP). A percentage of the pension wealth as decided by the Subscribers (minimum 40% & 80% in case of Superannuation & Pre-mature Exit respectively) is utilized for purchase of Annuity from the empanelled Annuity Service Providers.

Subscriber can continue in NPS till the age of 75 years or exit any time after such continuance before 75 years.

A subscriber has a right to raise a grievance in case of delay in the TAT or delay in query redressal. You can raise your query or grievance on nps@ventura1.com or call us at 022 6622 7349

If your PRAN is registered with Ventura, then you can download the transaction report from your client login.

Contributions are credited in PRANs on T+2 working day basis from the date of transaction (subject to receipt of clear funds)

You can apply for NPS account opening online from the Client login or by submission of Physical form and submit the same in original

Charges New Account
- Registration charges - Rs. 400
- Transaction charges - 0.50%
- GST - 18%(Registration & Transaction Charges)
Subsequent Contribution
- Transaction charges - 0.50%
- GST - 18% of Transaction Charges
Service Request
- Transaction charges -Rs. 30
- GST - 18% of Transaction Charges
Any contribution less than Rs. 8,000, in that case transaction charges will be flat Rs. 30 excluding the GST

TAT

Subscriber registration	Online T+1 working day Offline T+10 working days (all documents in order)
Subsequent Contribution	Transaction execution T + 1 working day Settlement T+2 working days
Service Request	T + 7 working days
Exit Withdrawal	T + 7 working days (all documents in order)

Paperless Transaction

Online Online Transaction

Less than 5 Min Takes less than 1 min

Open Your NPS Account

Online Contribution

Ventura Securities : Indian Online Share Trading Portal. Indian Online Stock Brokers Company offering Share Trading for BSE and NSE Stocks and Mutual Fund.