National Pension System - Citizens
National Pension System was made available to the Indian Citizens from 1st May 2009.
All citizens of India, whether resident or non resident aged between 18-60 years can subscribe to this scheme.
Under NPS two types of accounts have been made available
- Tier-I : Withdrawable, pure retirement account launched with effect from 1st May 2009.
- Tier II: Launched w.e.f. 1st December 2009. Citizens having Tier – I account can only open an account under Tier – II. This can be operated like a savings account. Individuals are free to withdraw their savings whenever they require.