SBI PENSION FUND SCHEME - CENTRAL GOVT - 28.1452 as on 18-03-2019 || SBI PENSION FUND SCHEME - STATE GOVT - 24.1646 as on 18-03-2019 || SBI PENSION FUND SCHEME E - TIER I - 25.3587 as on 18-03-2019 || SBI PENSION FUND SCHEME C - TIER I - 26.5015 as on 18-03-2019 || SBI PENSION FUND SCHEME G - TIER I - 24.4897 as on 18-03-2019 || SBI PENSION FUND SCHEME E - TIER II - 23.3842 as on 18-03-2019 || SBI PENSION FUND SCHEME C - TIER II - 24.2477 as on 18-03-2019 || SBI PENSION FUND SCHEME G - TIER II - 23.3636 as on 18-03-2019 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.8662 as on 18-03-2019 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 17.9526 as on 18-03-2019 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.6043 as on 18-03-2019 || SBI PENSION FUND SCHEME A - TIER I - 11.7983 as on 18-03-2019 || SBI PENSION FUND SCHEME A - TIER II - 10 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 27.288 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 24.2876 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 29.6158 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 23.7754 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 21.9775 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 24.1311 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 22.7895 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 22.5922 as on 18-03-2019 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.6636 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 18-03-2019 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 13.9338 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.7795 as on 18-03-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 18-03-2019 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 27.3334 as on 18-03-2019 || LIC PENSION FUND SCHEME - STATE GOVT - 24.3819 as on 18-03-2019 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.6242 as on 18-03-2019 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 17.9585 as on 18-03-2019 || LIC PENSION FUND SCHEME E - TIER I - 19.0914 as on 18-03-2019 || LIC PENSION FUND SCHEME C - TIER I - 16.9857 as on 18-03-2019 || LIC PENSION FUND SCHEME G - TIER I - 17.9989 as on 18-03-2019 || LIC PENSION FUND SCHEME E - TIER II - 15.9438 as on 18-03-2019 || LIC PENSION FUND SCHEME C - TIER II - 15.8777 as on 18-03-2019 || LIC PENSION FUND SCHEME G - TIER II - 18.2563 as on 18-03-2019 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.815 as on 18-03-2019 || LIC PENSION FUND SCHEME A - TIER I - 11.7311 as on 18-03-2019 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 18-03-2019 || KOTAK PENSION FUND SCHEME E - TIER I - 26.9174 as on 18-03-2019 || KOTAK PENSION FUND SCHEME C - TIER I - 26.0254 as on 18-03-2019 || KOTAK PENSION FUND SCHEME G - TIER I - 22.5111 as on 18-03-2019 || KOTAK PENSION FUND SCHEME E - TIER II - 23.8601 as on 18-03-2019 || KOTAK PENSION FUND SCHEME C - TIER II - 22.4265 as on 18-03-2019 || KOTAK PENSION FUND SCHEME G - TIER II - 21.0731 as on 18-03-2019 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.7723 as on 18-03-2019 || KOTAK PENSION FUND SCHEME A - TIER I - 11.3169 as on 18-03-2019 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME E - TIER I - 26.9851 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME C - TIER I - 23.6749 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME G - TIER I - 21.9926 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME E - TIER II - 23.0801 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME C - TIER II - 21.9919 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME G - TIER II - 21.278 as on 18-03-2019 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.6825 as on 18-03-2019 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 29.4852 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 26.4633 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 22.6543 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 23.2673 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 24.6144 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 21.7264 as on 18-03-2019 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 11.5163 as on 18-03-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 21.8841 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 17.119 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 16.8068 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.9281 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 16.162 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 17.1972 as on 18-03-2019 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 11.8406 as on 18-03-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 12.0215 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 11.6485 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 11.2781 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 11.3497 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.9419 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 11.322 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 10.8752 as on 18-03-2019 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 18-03-2019 ||

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Annuity Related

In the context of NPS, Annuity refers to the monthly sum received by the Subscriber from the Annuity Service Provider (ASP). A percentage of the pension wealth as decided by the Subscribers (minimum 40% & 80% is to be invested with ASP in case Withdrawal is due to Superannuation & Pre-mature Exit and Death respectively) is utilized for purchase of Annuity from the empaneled Annuity Service Providers.

Indian Life Insurance companies which are licensed by Insurance Regulatory and Development Authority (IRDA) can act as Annuity Service Providers. However, Annuity Service Providers needs to be empanelled by PFRDA to provide Annuity services to the NPS Subscribers. The list of Annuity service providers empaneled by PFRDA can be accessed at: https://npscra.nsdl.co.in/annuity-service-provider.php.

Annuity (Pension) starts immediately, if Subscriber fulfills the Age and Corpus criteria for purchasing Annuity (depending upon choice of ASP and Annuity scheme of the respective Annuity Service Provider).

Following schemes are available with ASPs:

  • Annuity for life - On death of the annuitant, payment of Annuity ceases.
  • Annuity for life with return of purchase price on death - On death of the annuitant, payment of Annuity ceases and the purchase price is returned to the nominee.
  • Annuity payable for life with 100% Annuity payable to spouse on death of annuitant - On death of the annuitant, Annuity is paid to the spouse during his/her life time. If the spouse predeceases the annuitant, payment of Annuity will cease after the death of the annuitant.
  • Annuity payable for life with 100% Annuity payable to spouse on death of annuitant with return on purchase of Annuity - On death of the annuitant, Annuity is paid to the spouse during his/her life time and purchase price is returned to the nominee after the death of the spouse.
  • Default Annuity Scheme (Applicable in case of Government Sector Subscribers only): kindly refer question no. 5 for detail description.

Default Annuity Scheme shall provide for Annuity for life of the Subscriber and his or her spouse (if any) with provision for return of purchase price of the Annuity and upon the demise of such Subscriber, the Annuity be re-issued to the family members in the order specified hereunder at a premium rate prevalent at the time of purchase of such Annuity by utilizing the purchase price required to be returned under the Annuity contract (until all the family members in the order specified below are covered):

(a) Living dependent mother of the deceased Subscriber;
(b) Living dependent father of the deceased Subscriber.

After the coverage of all the family members specified above, the purchase price shall be returned to the surviving children of the Subscriber and in the absence of children, the legal heirs of the Subscriber, as may be applicable.

In case of Superannuation & Pre-mature Exit, Subscriber can purchase any one scheme which are available with respective Annuity Service Provider. However, In case of death, Spouse has to purchase Default Annuity Scheme.

Once an Annuity is purchased, the option of cancellation or reinvestment with another Annuity Service Provider or in other Annuity scheme shall not be allowed unless the same is within the time limit specified (free look period as provided in terms of the Annuity contract or specifically provided by the IRDA) by the Annuity Service Provider.

The mode and manner of payment of amount (if any) will depend on the type of Annuity scheme selected by the Subscriber while buying the Annuity. Family members of the deceased Subscriber need to contact concerned Annuity Service Provider.

At present five ASPs are providing the Annuity services to the NPS Subscribers. The ASPs are as follows:

  • Life Insurance Corporation of India
  • SBI Life Insurance Co. Ltd.
  • ICICI Prudential Life Insurance Co. Ltd.
  • HDFC Standard Life Insurance Co Ltd
  • Star Union Dai-ichi Life Insurance Co. Ltd.

The contact details of the ASPs are available at https://npscra.nsdl.co.in/annuity-service-provider.php