SBI PENSION FUND SCHEME - CENTRAL GOVT - 24.2083 as on 23-02-2017 || SBI PENSION FUND SCHEME - STATE GOVT - 20.8302 as on 23-02-2017 || SBI PENSION FUND SCHEME E - TIER I - 20.1102 as on 23-02-2017 || SBI PENSION FUND SCHEME C - TIER I - 22.9778 as on 23-02-2017 || SBI PENSION FUND SCHEME G - TIER I - 21.1809 as on 23-02-2017 || SBI PENSION FUND SCHEME E - TIER II - 18.519 as on 23-02-2017 || SBI PENSION FUND SCHEME C - TIER II - 21.029 as on 23-02-2017 || SBI PENSION FUND SCHEME G - TIER II - 20.2736 as on 23-02-2017 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6278 as on 23-02-2017 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 15.4393 as on 23-02-2017 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.6776 as on 23-02-2017 || SBI PENSION FUND SCHEME A - TIER I - 10.2267 as on 23-02-2017 || SBI PENSION FUND SCHEME A - TIER II - 10.2039 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 23.4371 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 20.9111 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 23.3686 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 20.8335 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 19.2509 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 18.8896 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 19.9121 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 19.7101 as on 23-02-2017 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.4237 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 23-02-2017 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 11.9982 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.2159 as on 23-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10.22 as on 23-02-2017 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 23.5827 as on 23-02-2017 || LIC PENSION FUND SCHEME - STATE GOVT - 21.0799 as on 23-02-2017 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.3946 as on 23-02-2017 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 15.5353 as on 23-02-2017 || LIC PENSION FUND SCHEME E - TIER I - 15.7607 as on 23-02-2017 || LIC PENSION FUND SCHEME C - TIER I - 14.9277 as on 23-02-2017 || LIC PENSION FUND SCHEME G - TIER I - 15.2345 as on 23-02-2017 || LIC PENSION FUND SCHEME E - TIER II - 13.2473 as on 23-02-2017 || LIC PENSION FUND SCHEME C - TIER II - 14.0428 as on 23-02-2017 || LIC PENSION FUND SCHEME G - TIER II - 15.2894 as on 23-02-2017 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.97 as on 23-02-2017 || LIC PENSION FUND SCHEME A - TIER I - 10.1869 as on 23-02-2017 || LIC PENSION FUND SCHEME A - TIER II - 10.0704 as on 23-02-2017 || KOTAK PENSION FUND SCHEME E - TIER I - 21.6988 as on 23-02-2017 || KOTAK PENSION FUND SCHEME C - TIER I - 22.8196 as on 23-02-2017 || KOTAK PENSION FUND SCHEME G - TIER I - 19.5588 as on 23-02-2017 || KOTAK PENSION FUND SCHEME E - TIER II - 19.2078 as on 23-02-2017 || KOTAK PENSION FUND SCHEME C - TIER II - 19.6519 as on 23-02-2017 || KOTAK PENSION FUND SCHEME G - TIER II - 18.3865 as on 23-02-2017 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 17.0868 as on 23-02-2017 || KOTAK PENSION FUND SCHEME A - TIER I - 10.1524 as on 23-02-2017 || KOTAK PENSION FUND SCHEME A - TIER II - 10.1564 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME E - TIER I - 21.9465 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME C - TIER I - 20.6518 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME G - TIER I - 19.1156 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME E - TIER II - 18.7173 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME C - TIER II - 19.165 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME G - TIER II - 18.5572 as on 23-02-2017 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.1289 as on 23-02-2017 || RELIANCE PENSION FUND SCHEME A - TIER II - 10.0623 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 23.6875 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 22.9439 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 19.6647 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 18.6586 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 21.3766 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 18.8427 as on 23-02-2017 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.1701 as on 23-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10.1676 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 17.085 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 14.9076 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 14.5842 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 14.7551 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.054 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 14.8845 as on 23-02-2017 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.2196 as on 23-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10.1385 as on 23-02-2017

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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