Eligibility
A citizen of India, whether resident or non-resident, subject to the following conditions:
Applicant should be between 18 – 60 years of age as on the date of submission of his/her application to the POP/ POP-SP.
Applicant should comply with the Know Your Customer (KYC) norms as detailed in the Subscriber Registration Form. All the documents required for KYC compliance need to be mandatorily submitted
The Central Government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces). Hence, all Central Government employees joining on or after 01-01- 2004 are mandatorily covered under NPS.
Refer to Circulars:
The Central Government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces i.e. Army, Navy & Air Force). All the employees of Central Autonomous Bodies who have joined on or after the above mentioned date are also mandatorily covered under NPS.
Ministry of Finance, vide Office Memorandum No 1 (2)/E.V./2007 dated June 30, 2009 has stated that these organisations may also be permitted to shift to a defined contribution pension scheme i.e. NPS in respect of employees who have joined before January 01, 2004
To be a subscriber under a State Government, the individual has to be employed under the particular State Government. Various State Governments have adopted NPS architecture and implemented NPS with effect from different dates. To know the States implemented NPS please click here
To be a subscriber under a State Autonomous Body (SAB), the individual has to be employed under the particular SAB which has implemented NPS.
Various State Governments have adopted NPS architecture and implemented NPS for the employees of State Government as well as for the employees of Autonomous bodies, State PSUs, Corporations, Boards, Nigams etc. with effect from different dates.. To know the States implemented NPS please click here
For Corporates:
Corporate Model is available to any of the entities as under:-
- 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)
- Any Body incorporated under any act of Parliament or State legislature or by order of Central / State Government
- Proprietorship Concern
- Trust/Society
For Subscribers
The employees of the corporate entity, enrolled by the employer having Indian Citizenship between the age of 18-60 years and complying with the KYC norms, are eligible to be registered as subscribers under NPS.
Government of India has discontinued new subscription under NPS Swavalamban with effect from 01/April/2015. However, the subscribers already registered under NPS Swavalamban prior to 01/April/2015 can continue to deposit their subsequent contributions through their respective aggregators registered with PFRDA.