Regular post-retirement income | Additional tax benefit on investments up to ₹50,000 u/s 80CCD (1B) - EEE Category | Regulated by PFRDA (Pension fund regulator under Ministry of Finance, Govt. of India) Invest Now

One of the best ways to plan for retirement is to invest in avenues that cater to that goal. Today, numerous investment options cater specifically to your retirement needs. Among these schemes is the National Pension System (NPS).

 

NPS is a government-offered scheme meant to help you save for life post-retirement. PFRDA, the regulatory body of NPS, appointed various Points of Presence (POPs) through which you can invest in the scheme. 

 

Among these POPs are the Head Post Offices in India. Through the Post Office, NPS investment is available online as well as offline. These options allow you to invest seamlessly and at your convenience.

 

To learn more about how to open an NPS account in a post office, the features and benefits of NPS and more, read on.

How to Invest in NPS Through Post Office

Previously, you could invest in NPS postal schemes through offline means only. However, India Post now allows you to invest online, allowing you to invest without any hassles. Outlined below are the steps you need to follow to invest online and offline.

1. Online

To open an online NPS account via a post office, visit the India Post website and follow the steps mentioned below:

  • Click on ‘NPS’ under the Menu tab

  • Go to the ‘Online Services’ tab

  • Select ‘Subscriber Registration & Initial Contribution’

  • Read through the requirements and click on ‘Registration’

  • Enter the required details

  • Verify the details and click on ‘Continue’

  • Complete the initial contribution through UPI or Internet Banking

  • eSign or enter the OTP to authenticate your registration form

 

Once you complete the initial contribution, you will get a PRAN. This is a unique account number where your contribution to the NPS will be reflected. Keep your PRAN with you for future use. 

2. Offline

If you prefer an offline process to open your NPS account via a post office, follow these steps:

  • Visit the NPS CRA website and find the nearest post office POP

  • Go to the authorised post office branch

  • Request for the NPS subscriber form

  • Fill in the form with the required details

  • Attach the necessary documents

  • Submit the form 

  • Make the initial contribution

 

Once you finish registration and make your first contribution, your NPS account opening in a post office is complete. You will receive a PRAN and can make further contributions through these details.

Charges of Investing in NPS at a Post Office

Investment in any scheme comes with certain costs in the form of maintenance charges, processing fees, and more. Investment in the postal NPS scheme also comes with certain charges.

 

These charges ultimately impact the returns you earn and are, therefore, crucial to know. Given below is an overview of the costs associated with investing in the NPS scheme in a post office:

Service 

Charges to be paid by the investor

Registration charges

₹ 200

Contribution charges

₹ 30

All service charges, excluding withdrawal

₹ 30

All types of withdrawal

₹ 125

Disclaimer: The above charges exclude taxes and are subject to change.

Features and Benefits of NPS

Listed below are the top features and benefits you can enjoy by investing in the NPS scheme in a post office or through other POPs:

 

  • Flexibility and portability to continue your investment during a job or location change

  • Nominal monthly or yearly contributions for Tier I and II accounts

  • Tax benefits to reduce tax liability and help you grow your wealth

  • Withdrawal before maturity to meet emergency needs easily

  • Numerous fund managers ensure that your investment is secure and continues to grow

  • Market-linked returns to have better financial growth in the long-run

  • Annuity purchase to ensure that you have stable income inflow during retirement

  • Simple and low-cost investment scheme to help you save and invest more

Eligibility Terms and Documents Required for an NPS Investment

Although every citizen can visit a post office to start an NPS account, there are eligibility requirements. These eligibility criteria are:

  • Age between 18 to 70 years

  • KYC compliance

  • Indian citizen (residing or non-residing)

 

In addition to meeting the above requirements, you must submit a few documents. The documents required to invest online or offline via a post office in the National Pension Scheme are:

  • ID proof

  • Age proof

  • Residential proof

  • Bank account with empanelled banks

  • Photographs

 

It is crucial to remember that these document requirements may vary depending on the registration process you choose. So, check the requirements before you begin the registration to ensure you have everything you need at hand.

 

Now that you know how to invest in the National Pension Scheme via a post office, consider your requirements and finances before investing. This will help you decide which account is the best for your goals.

 

You can also use the NPS calculator to determine how much you need to invest to get the desired returns. This will help you capitalise on your investment and maximise your returns for better financial growth. 

FAQs on NPS Investment via Post Office

Can I invest online in NPS from a post office?

Yes, you can open an account for NPS in a post office online through the official website of the India Post. Ensure you have all the required documents and information for a seamless investment process.

What are the benefits of NPS?

Investing in NPS through a post office or any other POP offers several benefits. These include market-linked returns, security of investment and tax benefits. Investing in NPS helps you secure your financial growth and have a comfortable retirement.

Who can invest in the National Pension Scheme?

Investing in the NPS scheme via a post office or other POPs is available for all citizens of the country. However, there are certain eligibility criteria, which includes you being an Indian citizen between the age of 18 to 70. 

Who is NPS an ideal investment for?

Investment in NPS is an ideal option if you want to plan for your retirement, as it is a long-term scheme. Due to its tax benefits, the scheme is also ideal if you want to reduce your tax liability and save more.

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