SBI PENSION FUND SCHEME - CENTRAL GOVT - 27.6101 as on 19-12-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 23.7079 as on 19-12-2018 || SBI PENSION FUND SCHEME E - TIER I - 24.488 as on 19-12-2018 || SBI PENSION FUND SCHEME C - TIER I - 25.7042 as on 19-12-2018 || SBI PENSION FUND SCHEME G - TIER I - 24.2976 as on 19-12-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.5819 as on 19-12-2018 || SBI PENSION FUND SCHEME C - TIER II - 23.5026 as on 19-12-2018 || SBI PENSION FUND SCHEME G - TIER II - 23.1617 as on 19-12-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.4045 as on 19-12-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 17.6011 as on 19-12-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.3437 as on 19-12-2018 || SBI PENSION FUND SCHEME A - TIER I - 11.6609 as on 19-12-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 26.7684 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 23.8219 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.6325 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 23.1036 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 21.7716 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 23.306 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 22.1354 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 22.3863 as on 19-12-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.2495 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 19-12-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 13.6705 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.5756 as on 19-12-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 19-12-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 26.893 as on 19-12-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 24.0016 as on 19-12-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.2217 as on 19-12-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 17.6605 as on 19-12-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.6055 as on 19-12-2018 || LIC PENSION FUND SCHEME C - TIER I - 16.5441 as on 19-12-2018 || LIC PENSION FUND SCHEME G - TIER I - 17.818 as on 19-12-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.5878 as on 19-12-2018 || LIC PENSION FUND SCHEME C - TIER II - 15.468 as on 19-12-2018 || LIC PENSION FUND SCHEME G - TIER II - 17.9644 as on 19-12-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.5997 as on 19-12-2018 || LIC PENSION FUND SCHEME A - TIER I - 11.5528 as on 19-12-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 19-12-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 25.8597 as on 19-12-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 25.2869 as on 19-12-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 22.3539 as on 19-12-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 22.917 as on 19-12-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 21.8299 as on 19-12-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 20.8841 as on 19-12-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.3598 as on 19-12-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 11.2176 as on 19-12-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 26.1582 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 23.0583 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 21.8112 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.3615 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 21.4743 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 21.0333 as on 19-12-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.4798 as on 19-12-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 28.2431 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 25.684 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 22.5526 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.2835 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 23.8983 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 21.5969 as on 19-12-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 11.4039 as on 19-12-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 21.1235 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 16.6045 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 16.699 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.2627 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 15.6964 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 17.0576 as on 19-12-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 11.6084 as on 19-12-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.7768 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 11.3098 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 11.1762 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 11.1545 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.7172 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 11.0182 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 10.7915 as on 19-12-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 19-12-2018 ||

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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.