Department of Posts (DoP), under the Ministry of Communications, announced on Thursday that it had started providing the National Pension Scheme (NPS-All Citizen Model) through online mode effective 26 April, 2022.
Any Indian citizen in the age group of 18-70 years of age group can avail this online facility by visiting the official website of the Department of Posts under the menu head “National Pension System -Online Services,” the ministry informed.
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The National Pension Scheme (NPS-All Citizen Model), which is provided by the DoP, is a voluntary Pension Scheme of the government managed by Pension Fund Regulatory and Development Authority (PFRDA) through its designated Post Offices since 2010 through a physical process system.
“Facilities like new registration, initial/ subsequent contribution and SIP options under NPS Online are available to the customers at minimum charges for all services. NPS service charge of the Department is amongst the lowest. The subscriber are also eligible for tax deduction in NPS as per declaration made by Ministry of Finance time to time under sec. 80CCD 1(B),” explained the Ministry of Communications in an official statement.
It further explained that this online facility may be availed by all eligible persons for NPS without physically visiting any post office and to enjoy the hassle-free experience at a minimum fee structure.
NPS Online facility will go a long way in promoting National Pension Scheme (All Citizen Model) and will ensure a secured and dignified life of people in the country in their old age, the ministry conveyed.
