Pension fund regulator PFRDA has revised the charges for investment in NPS accounts through Point of Presence (POP) outlets.
As per the new rule, now the fee will be up to 0.25% of the contribution amount. Also the minimum fee/fees shall not be less than Rs.20 per customer. Earlier there was no ceiling on the minimum fee.
As per the notification of PFRDA, the maximum fee/fees will be 0.25% of the contribution amount and the upper limit will be Rs.25,000 only. Also the charges for subsequent transactions will be Rs 20 per customer. It is worth mentioning that this is a better product for small investors on the scale of starting with a small amount and investing the amount as per their convenience.
Start investing with one thousand rupees
In this, you can start investing with one thousand rupees, in which 500 rupees have to be deposited while opening the account and 500 rupees have to be deposited after opening the account. After this, you can deposit the amount at any time of the year as per your convenience. According to PFRDA, NPS has given returns of more than 12 per cent in the last 12 years.
Maximum age limit 70 years
In order to make it attractive, the regulator has made several improvements in the recent past. PFRDA has increased the maximum age to start investing in NPS to 70 years from 65 years earlier. According to the new rules, customers who have opted out of NPS can also reopen their accounts.
