What is NPS?| Why Everyone should invest in NPS?

Description :

Speaker Info: Karan Batra, He is currently Head of strategic alliances and partnerships at Finity and with over a decade of experience in sales, marketing, wealth management and Incubating Start-ups across 3 industries. Key strengths include communication, relationship management and effective leadership qualities. Hard working and motivated with a strong sense of discipline. Creative, intuitive and quick to grasp new concepts that are demonstrated by a range of work experiences, interests and achievements. You can reach out to him at karan@finity.in

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TRANSCRIPT:

Hi everyone my name is Karan Batra and I’m from My Way Wealth

What is NPS?

NPS stands for National Pension Scheme NPS is a government-sponsored pension scheme which was launched in January 2004 for the government employees in the year 2009 it was open to all sections of society, as a subscriber you can contribute in your pension account during the working years of your life at the time of retirement you have the option of taking a certain amount in form of a lump sum and the remaining you have to buy an annuity so that you get regular income post your retirement period.

Who can subscribe for an NPS account?

Any Indian citizen between the age of 18 and 60 years can contribute in the NPS account the only basic requirement is you need to complete your KYC which will know your customer norms.

What are the tax benefits of NPS?

Under NPS you get an additional deduction of Rs.50,000 per financial layer under Section 80 CCD this Rs.50,000 is over and above the Rs.1.5 lakhs which you get under 80 C, therefore, NPS is not only a great investment option but it also helps you save additional taxes so don’t stop and go ahead and make your investment.