National Pension System is a pension cum investment scheme launched by government of India to provide old age security to citizen of India. The scheme is regulated by Pension Fund Regulatory And Development Authority National Pension System Trust (NPST) established by PFRDA is registered owner of all assets under NPS.
Who can Join NPS: Any individual citizen of India (both resident and non-resident) in the age group of 18-70 years can join NPS. An NPS account can be open only in individual capacity.
Can an NRI join NPS; yes, an NRI can open an NPS account but contribution made by NRI are subject to regulatory requirement as prescribed by RBI and FEMA from time to time. Overseas Citizen of India and Person of Indian Origin card holders and HUF are not eligible for opening NPS account.
Can one open multiple NPS account : An individual is not allowed to open multiple account. however an individual can have an account in NPS and another in Atal Pension Yojna (APY).
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