I am planning to invest in the National Pension System for retirement savings. I am salaried, but my employer does not offer NPS. So I want to know the eligibility criteria I need to fulfill to invest in NPS by myself.
Harinder Singh
The National Pension System (NPS) was initially introduced in January 2004 to replace the State Government and Central Government pensions offered to government employees. But in 2009, other individuals planning to save for retirement were allowed to start investing in NPS. Now, even salaried employees of private companies and self-employed individuals can subscribe to NPS.
Like any other investment, there are a few eligibility criteria in terms of age, documentation, etc., that you need to fulfill before you can start investing in NPS.
If you are planning to invest in NPS by yourself, the eligibility criteria you need to fulfill are:
- You must be over 18 years old and less than 70 years old at the time of submitting the NPS application
- You must be a Resident Indian, Non-Resident Indian (NRI), or Overseas Citizen of India (OCI)
- You must be able to provide valid KYC documents such as Aadhaar, PAN, etc. along with your application
If you meet all the above criteria, you are eligible to open both the NPS Tier 1 and Tier 2 Accounts.
