SBI PENSION FUND SCHEME - CENTRAL GOVT - 25.9534 as on 18-06-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 22.2743 as on 18-06-2018 || SBI PENSION FUND SCHEME E - TIER I - 24.1766 as on 18-06-2018 || SBI PENSION FUND SCHEME C - TIER I - 24.3827 as on 18-06-2018 || SBI PENSION FUND SCHEME G - TIER I - 22.3163 as on 18-06-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.2974 as on 18-06-2018 || SBI PENSION FUND SCHEME C - TIER II - 22.3248 as on 18-06-2018 || SBI PENSION FUND SCHEME G - TIER II - 21.3165 as on 18-06-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.071 as on 18-06-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.5349 as on 18-06-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.5023 as on 18-06-2018 || SBI PENSION FUND SCHEME A - TIER I - 11.1575 as on 18-06-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.2071 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.4339 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.2233 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 22.0585 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 20.096 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 22.9074 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 21.1036 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.6362 as on 18-06-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.9252 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 18-06-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.8542 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.1527 as on 18-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 18-06-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.256 as on 18-06-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 22.5465 as on 18-06-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.8083 as on 18-06-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.5389 as on 18-06-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.2821 as on 18-06-2018 || LIC PENSION FUND SCHEME C - TIER I - 15.7178 as on 18-06-2018 || LIC PENSION FUND SCHEME G - TIER I - 16.208 as on 18-06-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.1881 as on 18-06-2018 || LIC PENSION FUND SCHEME C - TIER II - 14.7222 as on 18-06-2018 || LIC PENSION FUND SCHEME G - TIER II - 16.2576 as on 18-06-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.7496 as on 18-06-2018 || LIC PENSION FUND SCHEME A - TIER I - 11.1045 as on 18-06-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 18-06-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 25.8582 as on 18-06-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 24.2638 as on 18-06-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 20.478 as on 18-06-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 22.859 as on 18-06-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 20.8185 as on 18-06-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 19.2516 as on 18-06-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.366 as on 18-06-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 10.6383 as on 18-06-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 25.669 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 21.9385 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 20.0993 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.0007 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.4197 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.5255 as on 18-06-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.0602 as on 18-06-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 28.1541 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.3865 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.7116 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.2026 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.7061 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.8585 as on 18-06-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.8712 as on 18-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 20.9716 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.8181 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.2954 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.1521 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.9287 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.6285 as on 18-06-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 11.1413 as on 18-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.6588 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.7443 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.2748 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.7473 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.624 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.4596 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 9.9161 as on 18-06-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 18-06-2018 ||

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Annuity Service Provider (ASP)

Annuity in the context of NPS refers to the monthly payment that will be received by the subscriber from the Annuity Service Provider after his exit from NPS. Annuity Service Provider is an IRDA registered insurance company empanelled by PFRDA for providing of Annuity Services to NPS subscribers upon their exit from the system. ASPs will be responsible for managing the funds (allocated for buying annuity) and payment of the pension after a subscriber attains the age of 60. Pension Fund Regulatory and Development Authority (PFRDA) has empanelled the following seven IRDA approved life insurance companies for providing annuity services to the subscribers of National Pension System (NPS).

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

  1. Life Insurance Corporation of India
  2. SBI Life Insurance Co. Ltd.
  3. ICICI Prudential Life Insurance Co. Ltd.
  4. HDFC Standard Life Insurance Co Ltd.
  5. Bajaj Allianz Life Insurance Co. Ltd.
  6. Reliance Life Insurance Co. Ltd.
  7. Star Union Dai-ichi Life Insurance Co. Ltd.

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

The different type of Annuity options are:

  1. Annuity/ pension payable for life at a uniform rate.
  2. Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
  3. Annuity for life with return of purchase price on death of the annuitant.
  4. Annuity payable for life increasing at a simple rate of 3% p.a.
  5. Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  6. Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
  7. Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.

Yes, it is compulsory for the NPS Subscribers to purchase an annuity product from empanelled ASPs at the time of Superannuation and Pre-mature exit. The Subscriber selects the ASP at the time of submitting the withdrawal request or after the payment of Lumpsum withdrawal (maximum 60% & 20% can be withdrawn in case of Superannuation & Pre-mature Exit respectively).

No, only monthly annuity is allowed under NPS.

Duration of the annuity policy is dependent upon the annuity scheme opted by Subscriber.

Annuity amount is dependent upon the duration of annuity policy & annuity purchase amount.

The minimum age to receive annuity are predefined by each ASP. For example, HDFC and LIC offers the annuity from the age of 30 while SBI Life offers the annuity only after Subscriber reaches 40 years of age.

Once the Withdrawal request is processed and NPS corpus is remitted to Subscriber’s opted ASP, monthly annuity will be issued by the concerned ASP.