SBI PENSION FUND SCHEME - CENTRAL GOVT - 27.593 as on 23-01-2019 || SBI PENSION FUND SCHEME - STATE GOVT - 23.6936 as on 23-01-2019 || SBI PENSION FUND SCHEME E - TIER I - 24.0349 as on 23-01-2019 || SBI PENSION FUND SCHEME C - TIER I - 25.9539 as on 23-01-2019 || SBI PENSION FUND SCHEME G - TIER I - 24.188 as on 23-01-2019 || SBI PENSION FUND SCHEME E - TIER II - 22.1571 as on 23-01-2019 || SBI PENSION FUND SCHEME C - TIER II - 23.749 as on 23-01-2019 || SBI PENSION FUND SCHEME G - TIER II - 23.0472 as on 23-01-2019 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.398 as on 23-01-2019 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 17.5952 as on 23-01-2019 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.3374 as on 23-01-2019 || SBI PENSION FUND SCHEME A - TIER I - 11.7129 as on 23-01-2019 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 26.7381 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 23.797 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.0161 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 23.3411 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 21.6787 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 22.8321 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 22.3732 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 22.3072 as on 23-01-2019 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.2076 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 23-01-2019 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 13.6495 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.6573 as on 23-01-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 23-01-2019 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 26.8147 as on 23-01-2019 || LIC PENSION FUND SCHEME - STATE GOVT - 23.9327 as on 23-01-2019 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.1526 as on 23-01-2019 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 17.6292 as on 23-01-2019 || LIC PENSION FUND SCHEME E - TIER I - 18.1027 as on 23-01-2019 || LIC PENSION FUND SCHEME C - TIER I - 16.6975 as on 23-01-2019 || LIC PENSION FUND SCHEME G - TIER I - 17.739 as on 23-01-2019 || LIC PENSION FUND SCHEME E - TIER II - 15.1601 as on 23-01-2019 || LIC PENSION FUND SCHEME C - TIER II - 15.6189 as on 23-01-2019 || LIC PENSION FUND SCHEME G - TIER II - 17.8843 as on 23-01-2019 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.5545 as on 23-01-2019 || LIC PENSION FUND SCHEME A - TIER I - 11.6415 as on 23-01-2019 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 23-01-2019 || KOTAK PENSION FUND SCHEME E - TIER I - 25.5399 as on 23-01-2019 || KOTAK PENSION FUND SCHEME C - TIER I - 25.5862 as on 23-01-2019 || KOTAK PENSION FUND SCHEME G - TIER I - 22.2651 as on 23-01-2019 || KOTAK PENSION FUND SCHEME E - TIER II - 22.6245 as on 23-01-2019 || KOTAK PENSION FUND SCHEME C - TIER II - 22.0422 as on 23-01-2019 || KOTAK PENSION FUND SCHEME G - TIER II - 20.8092 as on 23-01-2019 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.3723 as on 23-01-2019 || KOTAK PENSION FUND SCHEME A - TIER I - 11.2064 as on 23-01-2019 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME E - TIER I - 25.7122 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME C - TIER I - 23.2728 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME G - TIER I - 21.7248 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.0052 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME C - TIER II - 21.6572 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME G - TIER II - 20.9645 as on 23-01-2019 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.5612 as on 23-01-2019 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 27.82 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 25.9523 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 22.3861 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 21.966 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 24.1414 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 21.4643 as on 23-01-2019 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 11.4464 as on 23-01-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 20.7331 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 16.8016 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 16.6276 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 17.9216 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 15.8842 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 16.9778 as on 23-01-2019 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 11.7287 as on 23-01-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.4666 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 11.4015 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 11.1243 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 11.232 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.3982 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 11.0959 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 10.7385 as on 23-01-2019 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 23-01-2019 ||

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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