SBI PENSION FUND SCHEME - CENTRAL GOVT - 26.0317 as on 21-06-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 22.3494 as on 21-06-2018 || SBI PENSION FUND SCHEME E - TIER I - 23.9673 as on 21-06-2018 || SBI PENSION FUND SCHEME C - TIER I - 24.5299 as on 21-06-2018 || SBI PENSION FUND SCHEME G - TIER I - 22.4306 as on 21-06-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.1021 as on 21-06-2018 || SBI PENSION FUND SCHEME C - TIER II - 22.444 as on 21-06-2018 || SBI PENSION FUND SCHEME G - TIER II - 21.4223 as on 21-06-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.1417 as on 21-06-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.5913 as on 21-06-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.5518 as on 21-06-2018 || SBI PENSION FUND SCHEME A - TIER I - 11.2028 as on 21-06-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.2897 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.5099 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 27.9957 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 22.1832 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 20.2074 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 22.7372 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 21.2112 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.7465 as on 21-06-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.997 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 21-06-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.904 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.16 as on 21-06-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 21-06-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.3341 as on 21-06-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 22.6199 as on 21-06-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.8685 as on 21-06-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.5964 as on 21-06-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.1246 as on 21-06-2018 || LIC PENSION FUND SCHEME C - TIER I - 15.8115 as on 21-06-2018 || LIC PENSION FUND SCHEME G - TIER I - 16.2993 as on 21-06-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.0568 as on 21-06-2018 || LIC PENSION FUND SCHEME C - TIER II - 14.8173 as on 21-06-2018 || LIC PENSION FUND SCHEME G - TIER II - 16.3568 as on 21-06-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.7934 as on 21-06-2018 || LIC PENSION FUND SCHEME A - TIER I - 11.1117 as on 21-06-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 21-06-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 25.7106 as on 21-06-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 24.3795 as on 21-06-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 20.5972 as on 21-06-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 22.7292 as on 21-06-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 20.9315 as on 21-06-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 19.3621 as on 21-06-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.4242 as on 21-06-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 11.0843 as on 21-06-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 25.463 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 22.0466 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 20.2039 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 21.8374 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.5356 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.6252 as on 21-06-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.0673 as on 21-06-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 27.9599 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.5158 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.829 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.0515 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.8267 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.9703 as on 21-06-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.9882 as on 21-06-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 20.8244 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.8999 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.3844 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.0248 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 15.0202 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.7105 as on 21-06-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 11.2591 as on 21-06-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.5602 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.795 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.3337 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.7544 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.5272 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.5116 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 9.9729 as on 21-06-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 21-06-2018 ||

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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.