SBI PENSION FUND SCHEME - CENTRAL GOVT - 24.4122 as on 24-03-2017 || SBI PENSION FUND SCHEME - STATE GOVT - 21.0044 as on 24-03-2017 || SBI PENSION FUND SCHEME E - TIER I - 20.4356 as on 24-03-2017 || SBI PENSION FUND SCHEME C - TIER I - 23.08 as on 24-03-2017 || SBI PENSION FUND SCHEME G - TIER I - 21.3937 as on 24-03-2017 || SBI PENSION FUND SCHEME E - TIER II - 18.8205 as on 24-03-2017 || SBI PENSION FUND SCHEME C - TIER II - 21.1321 as on 24-03-2017 || SBI PENSION FUND SCHEME G - TIER II - 20.4832 as on 24-03-2017 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.7853 as on 24-03-2017 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 15.5708 as on 24-03-2017 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.7898 as on 24-03-2017 || SBI PENSION FUND SCHEME A - TIER I - 10.2814 as on 24-03-2017 || SBI PENSION FUND SCHEME A - TIER II - 10.2589 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 23.6515 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 21.1004 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 23.7851 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 20.9417 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 19.463 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 19.2752 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 20.0229 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 19.9149 as on 24-03-2017 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6164 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 24-03-2017 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.1153 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.2703 as on 24-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10.2745 as on 24-03-2017 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 23.8028 as on 24-03-2017 || LIC PENSION FUND SCHEME - STATE GOVT - 21.2741 as on 24-03-2017 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.5746 as on 24-03-2017 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 15.6925 as on 24-03-2017 || LIC PENSION FUND SCHEME E - TIER I - 15.9703 as on 24-03-2017 || LIC PENSION FUND SCHEME C - TIER I - 15.0133 as on 24-03-2017 || LIC PENSION FUND SCHEME G - TIER I - 15.4303 as on 24-03-2017 || LIC PENSION FUND SCHEME E - TIER II - 13.4081 as on 24-03-2017 || LIC PENSION FUND SCHEME C - TIER II - 14.1048 as on 24-03-2017 || LIC PENSION FUND SCHEME G - TIER II - 15.4703 as on 24-03-2017 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.0921 as on 24-03-2017 || LIC PENSION FUND SCHEME A - TIER I - 10.2385 as on 24-03-2017 || LIC PENSION FUND SCHEME A - TIER II - 10.1184 as on 24-03-2017 || KOTAK PENSION FUND SCHEME E - TIER I - 22.0808 as on 24-03-2017 || KOTAK PENSION FUND SCHEME C - TIER I - 22.9705 as on 24-03-2017 || KOTAK PENSION FUND SCHEME G - TIER I - 19.741 as on 24-03-2017 || KOTAK PENSION FUND SCHEME E - TIER II - 19.5468 as on 24-03-2017 || KOTAK PENSION FUND SCHEME C - TIER II - 19.7845 as on 24-03-2017 || KOTAK PENSION FUND SCHEME G - TIER II - 18.5687 as on 24-03-2017 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 17.2462 as on 24-03-2017 || KOTAK PENSION FUND SCHEME A - TIER I - 10.205 as on 24-03-2017 || KOTAK PENSION FUND SCHEME A - TIER II - 10.2081 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME E - TIER I - 22.4035 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME C - TIER I - 20.7469 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME G - TIER I - 19.2729 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME E - TIER II - 19.1094 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME C - TIER II - 19.2321 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME G - TIER II - 18.7056 as on 24-03-2017 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.1818 as on 24-03-2017 || RELIANCE PENSION FUND SCHEME A - TIER II - 10.1085 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 23.9929 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 23.0526 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 19.8423 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 18.9009 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 21.4809 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.0106 as on 24-03-2017 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.2227 as on 24-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10.2207 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 17.4418 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 14.9836 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 14.7276 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 15.065 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.1075 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.0353 as on 24-03-2017 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.273 as on 24-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10.1906 as on 24-03-2017

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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