NPS is a pension scheme introduced by Pension Fund Regulatory and Development Authority (PFRDA), a government

entity to administer the pension program . It is a retirement savings product introduced to promote old age income
security, available on a voluntary basis to all citizens of India

Features:

• Transparent : NPS is government regulated pension scheme with complete transparency

• Flexible: Single scheme for pension,savings and liquidity
• Portable: Option allows employee to carry his fund to a new employer
• Fund Option: Choice of 3 fund options to suit the risk appetite of the employee
• Investment Choice: Active and Auto investment choice

Tax Benefit to Employees:

Corporate NPS employees can get tax deduction made by employer under Section 80CCD(2) upto 10% of Salary
(basic+DA) In addition deduction of Rs.50,000 would be available under section 80CCD(1B). This Rs 50,000 is over and
above the Rs.1.5 lac exemption under section 80CCE of the income tax act. Employees can also get tax deduction of upto
10% of salary(basic+DA) under 80 CCD(1).

Process & Documentation :

 Registration Form along with Rs. 500 cheque(optional)

 Photograph (1) KYC documents (2 sets)
 HR certification on the form
 Employee forms to be processed by POP with NSDL
 PRAN for member employees received by corporate/employee (as per choice) within 5-21 days

Scheme Option:

Active Choice

 Subscriber decides allocation to each of the funds between Equity(E), Corporate bonds (C), Government
Securities(G)
 Equity allocation allowed upto 50%
 Allocation can be changed yearly

Auto Choice

• Easy option for participants having limited knowledge to manage investments.

• Asset allocation between Equity(E), Corporate bonds (C), Government Securities(G) depends on life cycle
subscriber
• Allocation upto 35 years 50:30:20
• Allocation at 55 years 10:10:80

NPS Withdrawal

At any point in time before 60 years of age:

  20% of the pension wealth can be withdrawn as lump-sum
 Balance 80% needs to be used to buy an Annuity

On attaining the age of 60 years

 Min 40% of the pension wealth to purchase a life annuity

 Balance 60% of the pension wealth can be withdrawn as lump-sum at age 60 or in a phased manner
between age 60 and 70

Annuity Service Providers

ASPs would be responsible for delivering a regular monthly pension to subscribers as per the selected choice of annuity
by the subscriber

• Bajaj Allianz Life Insurance Co. Ltd.

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

We shall be glad to meet you and provide any further clarification to take this relationship forward.

Name:

Designation:

ICICI Bank Ltd