National Pension System (NPS) Advisory Services in Kolhapur, Sangli, Satara, Ratnagiri, Belgaum

NPS stands for National Pension System, which is a voluntary defined contribution pension system in India. It was introduced by the Indian government in 2004 as a replacement for the old defined benefit pension system. The NPS is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and is open to all Indian citizens between the ages of 18 and 65. Under the NPS, individuals can make contributions to their pension account, which is invested by professional fund managers in a diversified portfolio of assets including equities, bonds, and government securities. The funds are managed by various Pension Fund Managers (PFMs) appointed by PFRDA. At the time of retirement or reaching the age of 60, individuals can withdraw a portion of their accumulated pension wealth as a lump sum and the remaining amount has to be used to purchase an annuity product from a PFRDA-registered insurance company. The annuity product provides a regular income stream to the individual for the rest of their life.