SBI PENSION FUND SCHEME - CENTRAL GOVT - 24.5764 as on 13-01-2017 || SBI PENSION FUND SCHEME - STATE GOVT - 21.1836 as on 13-01-2017 || SBI PENSION FUND SCHEME E - TIER I - 18.9953 as on 13-01-2017 || SBI PENSION FUND SCHEME C - TIER I - 23.2799 as on 13-01-2017 || SBI PENSION FUND SCHEME G - TIER I - 21.9613 as on 13-01-2017 || SBI PENSION FUND SCHEME E - TIER II - 17.4836 as on 13-01-2017 || SBI PENSION FUND SCHEME C - TIER II - 21.3215 as on 13-01-2017 || SBI PENSION FUND SCHEME G - TIER II - 21.0156 as on 13-01-2017 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.9071 as on 13-01-2017 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 15.6973 as on 13-01-2017 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.8689 as on 13-01-2017 || SBI PENSION FUND SCHEME A - TIER I - 10.1507 as on 13-01-2017 || SBI PENSION FUND SCHEME A - TIER II - 10.1279 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 23.6993 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 21.1776 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 21.8182 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 21.093 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 19.9951 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 17.6674 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 20.1353 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.4493 as on 13-01-2017 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6658 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 13-01-2017 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.1766 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.1413 as on 13-01-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10.1437 as on 13-01-2017 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 23.9158 as on 13-01-2017 || LIC PENSION FUND SCHEME - STATE GOVT - 21.3988 as on 13-01-2017 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6701 as on 13-01-2017 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 15.8264 as on 13-01-2017 || LIC PENSION FUND SCHEME E - TIER I - 14.8663 as on 13-01-2017 || LIC PENSION FUND SCHEME C - TIER I - 15.1386 as on 13-01-2017 || LIC PENSION FUND SCHEME G - TIER I - 15.6675 as on 13-01-2017 || LIC PENSION FUND SCHEME E - TIER II - 12.5506 as on 13-01-2017 || LIC PENSION FUND SCHEME C - TIER II - 14.241 as on 13-01-2017 || LIC PENSION FUND SCHEME G - TIER II - 15.7135 as on 13-01-2017 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.1785 as on 13-01-2017 || LIC PENSION FUND SCHEME A - TIER I - 10.1128 as on 13-01-2017 || LIC PENSION FUND SCHEME A - TIER II - 10.0049 as on 13-01-2017 || KOTAK PENSION FUND SCHEME E - TIER I - 20.3896 as on 13-01-2017 || KOTAK PENSION FUND SCHEME C - TIER I - 23.1754 as on 13-01-2017 || KOTAK PENSION FUND SCHEME G - TIER I - 20.3135 as on 13-01-2017 || KOTAK PENSION FUND SCHEME E - TIER II - 18.0378 as on 13-01-2017 || KOTAK PENSION FUND SCHEME C - TIER II - 19.9543 as on 13-01-2017 || KOTAK PENSION FUND SCHEME G - TIER II - 19.0283 as on 13-01-2017 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 17.2837 as on 13-01-2017 || KOTAK PENSION FUND SCHEME A - TIER I - 10.0794 as on 13-01-2017 || KOTAK PENSION FUND SCHEME A - TIER II - 10.0841 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME E - TIER I - 20.7127 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME C - TIER I - 20.8031 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME G - TIER I - 19.8146 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME E - TIER II - 17.6677 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME C - TIER II - 19.3545 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.2485 as on 13-01-2017 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.0566 as on 13-01-2017 || RELIANCE PENSION FUND SCHEME A - TIER II - 10.003 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 22.126 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 23.2008 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.4216 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 17.4308 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 21.6148 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.582 as on 13-01-2017 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.0956 as on 13-01-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10.0926 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 16.1095 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.0721 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.13 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 13.9227 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.2172 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.475 as on 13-01-2017 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.145 as on 13-01-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10.0679 as on 13-01-2017

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Corporate Sector

The Central Government has introduced the National Pension System (NPS) with effect from January 01, 2004 (except for armed forces). Pension Fund Regulatory and Development Authority (PFRDA), the regulatory body for NPS, has appointed NSDL as Central Recordkeeping Agency (CRA) for National Pension System. CRA is the first of its kind venture in India which will carry out the functions of Record Keeping, Administration and Customer Service for all subscribers under NPS. CRA shall issue a Permanent Retirement Account Number (PRAN) to each subscriber and maintain data base of each Permanent Retirement account along with recording transactions relating to each PRAN.

NPS Corporate Sector Model is the customized version of core NPS to suit various organizations and their employees to adopt NPS as an organized entity within purview of their employer-employee relationship. This would facilitate corporate entities and other registered bodies to move their existing and prospective employees to NPS architecture. This is in an additional avenue for retirement planning being made available to organized sector and does not dilute their responsibilities under other statutory provisions like Provident Fund etc. Corporate sector has been formally launched from December 2011. Corporate may join NPS through any one of the existing POPs.

Eligibility for corporate to Join NPS
  • Entities registered under Companies Act,
  • Entities registered under various Co-operative Acts,
  • Central Public Sector Enterprises
  • State Public Sector Enterprises
  • Registered Partnership firm
  • Registered Limited Liability Partnership (LLPs)
  • Anybody incorporated under any act of Parliament or State legislature or by order of Central / State Government
  • Proprietorship Concern
  • Trust/Society
Features under Corporate Sector
  • The features applicable under All Citizens of India are available under corporate sector. In addition to these features, a corporate / subscribers under corporate sector can opt for the following:

Co-contribution

NPS provides platform for corporate to co-contribute for its subscribers or facilitate them to contribute for their pension. There are three variations of contributions from employer and employee:

  • Equal contributions by employer and employee
  • Unequal contribution by the employer and the employee
  • Contribution from either the employer or the employee

A Corporate subscriber can also voluntarily contribute in their Tier I through their associated POP. However, contribution in Tier II account can be done through any POP.

Scheme setup option

In NPS, a Corporate would have flexibility to decide investment choice either at subscriber level or at the corporate level centrally for all its underlying subscribers. A corporate can also select a PFM at a corporate level and allow the underlying subscriber to decide the allocation of funds among the three asset classes viz: Equity, Corporate Debt and Government Security.

Tier II

A corporate subscriber can open both Tier I and Tier II account simultaneously at the time of initial registration or can activate Tier II account subsequently through the associated POP. The investment option for the Tier-II account needs to be exercised by the subscriber, which can be different from Tier-I account.

TAX Benefits

Tax Benefit to Corporate

10% of the salary (basic and dearness allowance) of employers Contribution can be deducted as “Business Expense” from their Profit & Loss Account.

Tax benefit to Subscriber

The employer’s Contribution to NPS upto 10% of basic plus DA is allowed deduction under section 80CCD(2) and excluded from the limit of Rs.1.5 lakh.(http://indiabudget.nic.in) .

Steps to operationalise NPS Corporate

  • Selection of a POP
  • Registration of the corporate through the selected POP
  • Registration of subscribers through the selected POP
  • Commence contribution in Tier I account