SBI PENSION FUND SCHEME - CENTRAL GOVT - 28.5017 as on 17-05-2019 || SBI PENSION FUND SCHEME - STATE GOVT - 24.4854 as on 17-05-2019 || SBI PENSION FUND SCHEME E - TIER I - 25.0588 as on 17-05-2019 || SBI PENSION FUND SCHEME C - TIER I - 26.7866 as on 17-05-2019 || SBI PENSION FUND SCHEME G - TIER I - 24.9584 as on 17-05-2019 || SBI PENSION FUND SCHEME E - TIER II - 23.0974 as on 17-05-2019 || SBI PENSION FUND SCHEME C - TIER II - 24.5166 as on 17-05-2019 || SBI PENSION FUND SCHEME G - TIER II - 23.7869 as on 17-05-2019 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 23.1288 as on 17-05-2019 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 18.1911 as on 17-05-2019 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.7827 as on 17-05-2019 || SBI PENSION FUND SCHEME A - TIER I - 12.1294 as on 17-05-2019 || SBI PENSION FUND SCHEME A - TIER II - 10 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 27.5624 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 24.5323 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.9282 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 24.0431 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 22.3979 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 23.5563 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 23.0458 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 23.039 as on 17-05-2019 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.8796 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 17-05-2019 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 14.0669 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 11.9261 as on 17-05-2019 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 17-05-2019 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 27.6473 as on 17-05-2019 || LIC PENSION FUND SCHEME - STATE GOVT - 24.6748 as on 17-05-2019 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 22.8648 as on 17-05-2019 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 18.2072 as on 17-05-2019 || LIC PENSION FUND SCHEME E - TIER I - 18.8167 as on 17-05-2019 || LIC PENSION FUND SCHEME C - TIER I - 17.1958 as on 17-05-2019 || LIC PENSION FUND SCHEME G - TIER I - 18.437 as on 17-05-2019 || LIC PENSION FUND SCHEME E - TIER II - 15.7203 as on 17-05-2019 || LIC PENSION FUND SCHEME C - TIER II - 16.0589 as on 17-05-2019 || LIC PENSION FUND SCHEME G - TIER II - 18.7374 as on 17-05-2019 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 13.9923 as on 17-05-2019 || LIC PENSION FUND SCHEME A - TIER I - 12.0377 as on 17-05-2019 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 17-05-2019 || KOTAK PENSION FUND SCHEME E - TIER I - 26.6434 as on 17-05-2019 || KOTAK PENSION FUND SCHEME C - TIER I - 26.411 as on 17-05-2019 || KOTAK PENSION FUND SCHEME G - TIER I - 22.9758 as on 17-05-2019 || KOTAK PENSION FUND SCHEME E - TIER II - 23.6332 as on 17-05-2019 || KOTAK PENSION FUND SCHEME C - TIER II - 22.7249 as on 17-05-2019 || KOTAK PENSION FUND SCHEME G - TIER II - 21.4734 as on 17-05-2019 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.0108 as on 17-05-2019 || KOTAK PENSION FUND SCHEME A - TIER I - 11.8801 as on 17-05-2019 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME E - TIER I - 26.5309 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME C - TIER I - 23.9449 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME G - TIER I - 22.4352 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.6474 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME C - TIER II - 22.1405 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME G - TIER II - 21.6404 as on 17-05-2019 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME A - TIER I - 11.8268 as on 17-05-2019 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 29.1786 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 26.7687 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 23.1112 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 23.0239 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 24.8899 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 22.1526 as on 17-05-2019 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 11.8751 as on 17-05-2019 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 21.6602 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 17.3974 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 17.1519 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.7316 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 16.4115 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 17.5365 as on 17-05-2019 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 12.3088 as on 17-05-2019 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.8103 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 11.8059 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 11.4936 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 11.4911 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.7272 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 11.4427 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 11.106 as on 17-05-2019 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 17-05-2019 ||

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Annuity Related

In the context of NPS, Annuity refers to the monthly sum received by the Subscriber from the Annuity Service Provider (ASP). A percentage of the pension wealth as decided by the Subscribers (minimum 40% & 80% is to be invested with ASP in case Withdrawal is due to Superannuation & Pre-mature Exit and Death respectively) is utilized for purchase of Annuity from the empaneled Annuity Service Providers.

Indian Life Insurance companies which are licensed by Insurance Regulatory and Development Authority (IRDA) can act as Annuity Service Providers. However, Annuity Service Providers needs to be empanelled by PFRDA to provide Annuity services to the NPS Subscribers. The list of Annuity service providers empaneled by PFRDA can be accessed at: https://www.npscra.nsdl.co.in/Annuity-service-providers.php.

Annuity (Pension) starts immediately, if Subscriber fulfills the Age and Corpus criteria for purchasing Annuity (depending upon choice of ASP and Annuity scheme of the respective Annuity Service Provider).

Following schemes are available with ASPs:

  • Annuity for life - On death of the annuitant, payment of Annuity ceases.
  • Annuity for life with return of purchase price on death - On death of the annuitant, payment of Annuity ceases and the purchase price is returned to the nominee.
  • Annuity payable for life with 100% Annuity payable to spouse on death of annuitant - On death of the annuitant, Annuity is paid to the spouse during his/her life time. If the spouse predeceases the annuitant, payment of Annuity will cease after the death of the annuitant.
  • Annuity payable for life with 100% Annuity payable to spouse on death of annuitant with return on purchase of Annuity - On death of the annuitant, Annuity is paid to the spouse during his/her life time and purchase price is returned to the nominee after the death of the spouse.
  • Default Annuity Scheme (Applicable in case of Government Sector Subscribers only): kindly refer question no. 27 for detail description.

Default Annuity Scheme shall provide for Annuity for life of the Subscriber and his or her spouse (if any) with provision for return of purchase price of the Annuity and upon the demise of such Subscriber, the Annuity be re-issued to the family members in the order specified hereunder at a premium rate prevalent at the time of purchase of such Annuity by utilizing the purchase price required to be returned under the Annuity contract (until all the family members in the order specified below are covered):

(a) Living dependent mother of the deceased Subscriber;
(b) Living dependent father of the deceased Subscriber.

After the coverage of all the family members specified above, the purchase price shall be returned to the surviving children of the Subscriber and in the absence of children, the legal heirs of the Subscriber, as may be applicable.

In case of Superannuation & Pre-mature Exit, Subscriber can purchase any one scheme which are available with respective Annuity Service Provider. However, In case of death, Spouse has to purchase Default Annuity Scheme.

Once an Annuity is purchased, the option of cancellation or reinvestment with another Annuity Service Provider or in other Annuity scheme shall not be allowed unless the same is within the time limit specified (free look period as provided in terms of the Annuity contract or specifically provided by the IRDA) by the Annuity Service Provider.

The mode and manner of payment of amount (if any) will depend on the type of Annuity scheme selected by the Subscriber while buying the Annuity. Family members of the deceased Subscriber need to contact concerned Annuity Service Provider.

At present five ASPs are providing the Annuity services to the NPS Subscribers. The ASPs are as follows:

  • Life Insurance Corporation of India
  • SBI Life Insurance Co. Ltd.
  • ICICI Prudential Life Insurance Co. Ltd.
  • HDFC Standard Life Insurance Co Ltd
  • Star Union Dai-ichi Life Insurance Co. Ltd.

The contact details of the ASPs are available at https://www.npscra.nsdl.co.in/Annuity-service-providers.php