Features & Benefits » NPS aims at ensuring financial security to every citizen by encouraging them to start contributing towards the old age saving. NPS has been designed to enable the subscribers to make optimum decisions regarding their future through systematic savings during their employment. NPS seeks to inculcate the habit of saving for retirement amongst the citizens. » NPS- Features Open to all citizens of India and NRIs from 18 to 60 years of age. NPS is designed as a voluntary saving scheme, with restricted withdrawal options. Two types of account option Tier-I which is regular pension account Tier-II which is a saving account Tier-II account can be opened either with Tier-I or at a later stage only if Tier-I is active No upper limit of investment Safe and reasonable market based returns over the long term All charges levied under NPS are defined and regulated by PFRDA Default penalty of Rs.100/- if min. contribution is not deposited Dormant account shall be closed when account value falls to ZERO » NPS- Benefits It is voluntary- NPS is open to every Indian citizen. You can choose the amount you want to set aside and save every year. You can choose your own investment option and pension fund and see your money grow. It is portable. You can operate your account from anywhere in the country, even if you change your city, job or your pension fund manager. Tax benefits available under section 80 C of the Income Tax Act. It is regulated. NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and performance review of fund managers by NPS trust. Professional record-keeping and fund management. No entry and exit loads.