SBI PENSION FUND SCHEME - CENTRAL GOVT - 26.0465 as on 22-06-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 22.3578 as on 22-06-2018 || SBI PENSION FUND SCHEME E - TIER I - 24.123 as on 22-06-2018 || SBI PENSION FUND SCHEME C - TIER I - 24.5142 as on 22-06-2018 || SBI PENSION FUND SCHEME G - TIER I - 22.4054 as on 22-06-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.2476 as on 22-06-2018 || SBI PENSION FUND SCHEME C - TIER II - 22.4388 as on 22-06-2018 || SBI PENSION FUND SCHEME G - TIER II - 21.3997 as on 22-06-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.1498 as on 22-06-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.5981 as on 22-06-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.5506 as on 22-06-2018 || SBI PENSION FUND SCHEME A - TIER I - 11.2367 as on 22-06-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.2986 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.518 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.1948 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 22.1833 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 20.1855 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 22.8887 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 21.2072 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.7241 as on 22-06-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.0025 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 22-06-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.9093 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.1623 as on 22-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 22-06-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.3413 as on 22-06-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 22.6251 as on 22-06-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.8783 as on 22-06-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.602 as on 22-06-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.2091 as on 22-06-2018 || LIC PENSION FUND SCHEME C - TIER I - 15.8149 as on 22-06-2018 || LIC PENSION FUND SCHEME G - TIER I - 16.286 as on 22-06-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.1242 as on 22-06-2018 || LIC PENSION FUND SCHEME C - TIER II - 14.8195 as on 22-06-2018 || LIC PENSION FUND SCHEME G - TIER II - 16.3398 as on 22-06-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.7981 as on 22-06-2018 || LIC PENSION FUND SCHEME A - TIER I - 11.114 as on 22-06-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 22-06-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 25.619 as on 22-06-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 24.3936 as on 22-06-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 20.5802 as on 22-06-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 22.648 as on 22-06-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 20.9323 as on 22-06-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 19.3471 as on 22-06-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.4049 as on 22-06-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 10.7793 as on 22-06-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 25.6352 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 22.0396 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 20.1847 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 21.9831 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.524 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.6077 as on 22-06-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.0697 as on 22-06-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 28.1487 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.4868 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.7972 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.199 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.7954 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.9424 as on 22-06-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.9356 as on 22-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 20.9395 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.8939 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.3631 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.1241 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 15.0057 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.6919 as on 22-06-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 11.1392 as on 22-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.6598 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.8147 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.3237 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.7566 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.6264 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.5241 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 9.9623 as on 22-06-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 22-06-2018 ||

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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.