Frequently Asked Questions on NPS - Swavalamban 1. What is pension and why do I need it? 2. What is NPS - Swavalamban and why is it the right pension scheme for me? Distinguishing Features of NPS -Swavalamban:
1. What is pension and why do I need it?
2. What is NPS - Swavalamban and why is it the right pension scheme for me?
- Account opened in 2010-2011 will get the benefit till 2014-2015
- Account opened in 2011-2012 will get the benefit till 2015-2016
- Account opened in 2012-2013 will get the benefit till 2016-2017
3.Why should I contribute for such a long period in this pension scheme?
4. How different is NPS - Swavalamban from other products like savings in the bank?
5. NPS -Swavalamban invests my contributions in the equity markets. How safe is this?
6. Why do I not know the return on my investment through NPS -Swavalamban as I do in the case of PPF, FDs and other such investment tools?
7. Who can subscribe to NPS -Swavalamban?
8. What is the procedure to open NPS -Swavalamban account?
9. How do I continue making contributions once I have been registered into NPS -Swavalamban?
10. How much should I invest in NPS-Swavalamban? Is there a minimum contribution limit per year?
11. How many times should I invest in a year?
12. Where will my savings be invested?
13. What rate of return will my contributions earn?
14. When will I be permitted to withdraw from my account?
15. How will I know the status of my investment and how much it has accumulated to?
16. In case of Death of the Subscriber, how would the nominee get the amount?
17. At the time of subscribing no bank account details are required.What will happen at the time of exit if the Bank a/c details are not provided by the Subscriber?
18. If I move my residence/city, will the scheme still be valid? How do I make contributions in that eventuality?
19. What is the Swavalamban scheme and am I eligible for it?