SBI PENSION FUND SCHEME - CENTRAL GOVT - 24.5054 as on 27-03-2017 || SBI PENSION FUND SCHEME - STATE GOVT - 21.0947 as on 27-03-2017 || SBI PENSION FUND SCHEME E - TIER I - 20.3228 as on 27-03-2017 || SBI PENSION FUND SCHEME C - TIER I - 23.1559 as on 27-03-2017 || SBI PENSION FUND SCHEME G - TIER I - 21.5484 as on 27-03-2017 || SBI PENSION FUND SCHEME E - TIER II - 18.7144 as on 27-03-2017 || SBI PENSION FUND SCHEME C - TIER II - 21.193 as on 27-03-2017 || SBI PENSION FUND SCHEME G - TIER II - 20.6379 as on 27-03-2017 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.8632 as on 27-03-2017 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 15.639 as on 27-03-2017 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.8421 as on 27-03-2017 || SBI PENSION FUND SCHEME A - TIER I - 10.2871 as on 27-03-2017 || SBI PENSION FUND SCHEME A - TIER II - 10.2644 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 23.7361 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 21.1831 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 23.6615 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 20.9991 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 19.6148 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 19.1704 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 20.0715 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.0667 as on 27-03-2017 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6812 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 27-03-2017 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.1736 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.2755 as on 27-03-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10.2796 as on 27-03-2017 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 23.8962 as on 27-03-2017 || LIC PENSION FUND SCHEME - STATE GOVT - 21.3624 as on 27-03-2017 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6464 as on 27-03-2017 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 15.7618 as on 27-03-2017 || LIC PENSION FUND SCHEME E - TIER I - 15.8872 as on 27-03-2017 || LIC PENSION FUND SCHEME C - TIER I - 15.0502 as on 27-03-2017 || LIC PENSION FUND SCHEME G - TIER I - 15.5532 as on 27-03-2017 || LIC PENSION FUND SCHEME E - TIER II - 13.337 as on 27-03-2017 || LIC PENSION FUND SCHEME C - TIER II - 14.147 as on 27-03-2017 || LIC PENSION FUND SCHEME G - TIER II - 15.5889 as on 27-03-2017 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.147 as on 27-03-2017 || LIC PENSION FUND SCHEME A - TIER I - 10.2437 as on 27-03-2017 || LIC PENSION FUND SCHEME A - TIER II - 10.1221 as on 27-03-2017 || KOTAK PENSION FUND SCHEME E - TIER I - 22.1397 as on 27-03-2017 || KOTAK PENSION FUND SCHEME C - TIER I - 23.0343 as on 27-03-2017 || KOTAK PENSION FUND SCHEME G - TIER I - 19.8887 as on 27-03-2017 || KOTAK PENSION FUND SCHEME E - TIER II - 19.5988 as on 27-03-2017 || KOTAK PENSION FUND SCHEME C - TIER II - 19.8429 as on 27-03-2017 || KOTAK PENSION FUND SCHEME G - TIER II - 18.6961 as on 27-03-2017 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 17.3193 as on 27-03-2017 || KOTAK PENSION FUND SCHEME A - TIER I - 10.2103 as on 27-03-2017 || KOTAK PENSION FUND SCHEME A - TIER II - 10.2124 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME E - TIER I - 22.2612 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME C - TIER I - 20.7984 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME G - TIER I - 19.4105 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME E - TIER II - 18.9837 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME C - TIER II - 19.3008 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME G - TIER II - 18.8437 as on 27-03-2017 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.187 as on 27-03-2017 || RELIANCE PENSION FUND SCHEME A - TIER II - 10.1131 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 23.8325 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 23.1136 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 19.9831 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 18.7741 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 21.5384 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.1489 as on 27-03-2017 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.2282 as on 27-03-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10.2262 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 17.338 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.0232 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 14.8344 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 14.9818 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.1419 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.1511 as on 27-03-2017 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.2783 as on 27-03-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10.1959 as on 27-03-2017

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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