1. What is National Pension System?

The National Pension System (NPS) is a new voluntary contributory pension

scheme introduced by the Central Government through Pension Fund
Regulatory and Development Authority (PFRDA) to promote old age income
security.

It is a defined contribution pension system which is being offered on a

voluntary basis to all citizens of India other than government employees
covered by NPS. PFRDA has also introduced Corporate National Pension System
model (under existing All Citizen of India Model (i.e. commonly known as “UOS
NPS model”)) where-in the Corporate can get itself register under the System with
CRA through the recognized POP. As per the Corporate NPS model the Corporate
is free to offer the NPS system to all or select employees (i.e. based on certain
criteria - above a certain grade). Under the Corporate NPS model, the Corporate
can transfer Employee’s contribution (i.e. deduction from employee’s salary) to
Employee’s NPS Tier I account and it also has an option to contribute over and
above the employee’s NPS contribution amount.

Under the NPS, individuals can open a personal retirement account with the
government through PFRDA and can set aside and save a pension corpus
during their work life to meet financial needs after retirement. These
contributions earn returns depending on the investment option selected by
the individual. NPS a c c o u n t i s a u n i q u e a c c o u n t . O n e c a n n o t h a v e
more than 1 NPS account.

At the time of withdrawal, the subscribers have to invest a portion of their

accumulated pension wealth under the NPS to purchase a life annuity from an
IRDA regulated life insurance company and the balance may be withdrawn in
lumpsum. The amount and the time period after which withdrawals can be
made are subject to certain conditions (as explained in FAQs).

To view the NPS offer document visit

https://www.npscra.nsdl.co.in/offer-documents.php

2. What is the architecture of NPS? Who are the different entities involved?

Following are the Intermediaries in the NPS system:

 Pension Fund Regulatory and Development Authority(PFRDA)
 Central Record-keeping Agency (CRA)
 National Securities Depository Limited (NSDL) has been appointed as the
CRA for NPS by PFRDA.
 Pension Funds (PFs)/Pension Fund Managers (PFM)
 Annuity Service Provider (ASP)
 Trust & Trustee Bank (TB)
 Point of Presence (PoP)
 Custodian

· Description of the above entities :

· Pension Fund Regulatory and Development Authority (PFRDA)
PFRDA is the regulator for the NPS. PFRDA is responsible for registration of
various intermediaries in the system such as Central Record Keeping Agency
(CRA), Pension Funds, Custodians, NPS Trustee Bank, etc. PFRDA shall also
monitor the performance of the various intermediaries and ensure that all
stakeholders comply with the guidelines/regulations issued by PFRDA from time
to time.

· Central Record-keeping Agency (CRA)

The record-keeping, administration and customer service functions for all
subscribers of the National Pension System will be centralized and performed by
the CRA. The CRA shall, on the basis of instructions received from
subscribers, transmit such instructions to the appointed Pension Funds on a
regular basis. The CRA will also provide periodic, consolidated PRAN
statements to each subscriber. Currently National Securities Depository Ltd
(NSDL) is CRA.

· Pension Funds (PFs)/Pension Fund Managers (PFMs)

Appointed PFs are responsible for managing the retirement savings of
subscribers under the NPS. The PFRDA has appointed a limited number of
leading professional firms to act as PFMs. Subscribers contribution is given to
these PFMs for further investment.

The PFMs are required to invest strictly in accordance with the guidelines
issued by the government / PFRDA. PFMs would communicate the NAV of each
scheme to CRA on a regular basis.

NPS allows you to choose from any one of the following 8 entities as PF to
manage your pension fund:
1. ICICI Prudential Pension Funds Management Co. Limited

2. HDFC Pension Management Company Limited

3. Kotak Mahindra Pension Fund Limited

4. LIC Pension Fund Ltd

5. Reliance Capital Pension Fund Limited

6. SBI Pension Fund Pvt. Limited

7. UTI Retirement Solutions Limited

8. Birla Sun life Pension Management Limited

· Annuity Service Provider (ASP)

ASPs are responsible for delivering a regular monthly pension to the
subscriber if subscriber has purchased annuity scheme either before attending age of 60
years (subject to lock-in period of 10 years) or attending the normal retirement age of 60
years or on attending superannuation after attaining the normal retirement age of
60 years. PFRDA has empanelled the following seven IRDA approved life
insurance companies for providing annuity services to the subscribers of
National Pension System (NPS).

1. Life Insurance Corporation of India

2. SBI Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. Star Union Dai-ichi Life Insurance Co. Ltd.
5. HDFC Standard Life Insurance Co. Ltd.

PFRDA / CRA is in process of finalizing the operational guidelines for annuity,. NPS
subscriber can then annuitize the withdrawal amount through Annuity Service
Provider as selected by subscriber either on attaining the 60 years of age
or before attaining the age of 60 years subject to 10 years of lock-in.

· Trust & Trustee Bank (TB)

The Trust established under the NPS, is responsible for taking care of the
funds under the NPS and is the registered owner of all NPS assets. The trust
holds an account with as the NPS Trustee Bank, i.e Axis Bank. NPS Trustee Bank
facilitates fund transfers across various entities of NPS system viz. PFM, Annuity
Service Providers, subscriber, etc. The NPS Trust is being administered
by the Board of Trustees, as constituted by the PFRDA.

· Point of Presence (PoP)

PoP is the first point of interaction between the voluntary subscriber and the
NPS architecture. The PoP is responsible for performing functions relating to
registration of subscribers, undertaking Know Your Customer (KYC) verification,
receiving contributions and instructions from subscribers and transmission of
the same to designated NPS intermediaries.

· Custodian
The Custodian is responsible for the custody of underlying assets. Custodian is a
SEBI registered Custodial Services providing fulfilling condition on foreign holdings
and cross holdings as Government may prescribe. Current custodian is Stock
Holding Corporation of India (SHCIL)

Please note that the addition or deletion of intermediaries like PFM, POP and ASP
is a continuous process. The latest list of PFMs, POPs and ASPs are available
on PFRDA website - www.pfrda.org.in.

3. Who can invest in NPS?

Any Indian citizen between the age of 18 to 60 years can invest in NPS.
However, persons having an existing NPS account and government
employees who are already covered under NPS cannot again open an
additional account under NPS.

Note : As per regulatory guidelines HUF, PIO and OCI cannot invest in NPS.

4. Can an NRI open an NPS account?

Yes. An NRI can open an NPS account if the NRI has a bank account with a bank
based in India and his communication address is an Indian address.
Contributions made by NRI are subject to regulatory requirements as
prescribed by RBI and FEMA from time to time.

Note:

1) Presently, I- Sec is n o t offering the NPS product to N o n Resident Indians.

2) RBI vide its circular No. RBI/2015-16/216 A.P. (DIR Series) Circular No.24 dated the October
29, 2015 has stated that eligible NRI customer may open / subscribe to NPS account (under
PFRDA regulations) by making contributions through normal banking channel. The
subscription amounts shall be paid by the NRIs either by inward remittance through
normal banking channels or out of funds held in their NRE/FCNR/NRO account. RBI has
further stated in the said circular that there shall be no restriction on repatriation of the
annuity/ accumulated savings.

5. What if my citizenship status changes after I open a permanent retirement

account under NPS?

NPS is available only to citizens of India. If the subscriber's citizenship status

changes, his/her NPS account would be closed.

In case your status changes from RI to NRI then NPS account has to be shifted to NPS-UOS
offline model by submitting duly filled Sector shifting form: ISS-1.
Documents to be submitted along with form
1. Self-attested PRAN card copy
2. Cancelled cheque of his NRO account
3. Self-attested copy of 1st & last page of passport –Original and signature to be verified by
I-Sec official. Request you to visit our nearest I-Sec branch for the same

For further investment in NPS, client will have to submit NCIS form, self-attested PRAN card
copy, and cheque of NRO account (Third party cheque not accepted) for contribution. Cheque
should be in name of “ICICI Securities Limited NPS Pool”

Duly filled form & documents to be sent at below mentioned address

ICICI Securities Ltd,
NPS Operations Dept,
Shree Sawan Knowledge Park,
Plot No. D-507, T.Ts Ind Area,
M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai – 400705

You can avail the form by following below mentioned path

(i) www.icicidirect.com —Customer service —Overview---Important Information---
Download forms —NPS
Or
(ii) Login in I-Direct account— Trade & Invest---NPS---Holding & Services---Forms

6. How do I invest in NPS?

To invest in NPS, you will be required to open an account with a Point of

Presence (POP) and obtain a Permanent Retirement Account Number (PRAN). This
is the unique identification number given to your NPS account. ICICI Securities
Limited (I-Sec) is registered as a Point of Presence (POP) with the PFRDA for
offering services pertaining to opening and operation of NPS accounts.
Once opened NPS account with ICICIdirect.com, you can invest in NPS either
through lump sum contribution or Systematic Investment Plan (SIP)

Path : Login in I-direct account---Trade & invest –NPS—Transact—Place

contribution/SIP

7. What are the benefits of investing in the NPS?

You may benefit from investing in NPS in the following manner:

1. It is voluntary: You can choose the amount (subject to the minimum annual
contribution amount from second financial year after opening of the NPS
account) you want to set aside and save every year

2. It is simple: All you have to do is to open an account with any one of the
POP and get a PRAN

3. It is flexible: You can choose your own investment option and Pension fund
Manager and see your money grow

4. It is portable: You can operate your account from anywhere in the country,
even if you change your city, job or pension fund manager

5. It is regulated: NPS is regulated by PFRDA, with transparent investment

norms and regular monitoring and performance review of fund managers by
NPS trust
 8. What are the different types of NPS accounts?

NPS accounts are of two types:

Tier I account: It is a mandatory account for those who have opted for NPS.
Under this account you could start investing with amount as low as Rs. 500 as first
contribution with minimum of Rs. 1000 in a financial year.. You could avail tax
benefits on your own investment up to Rs. 2,00,000 under section 80C & 80
CCD(1B). Normal withdrawal is on attainment of 60 yrs of age. Though, partial
withdrawal after 10 yrs of investment is allowed as per the existing guidelines.
To withdraw from your Tier I account before 60 years of age, you would be
required to invest at least 80% of your pension wealth to purchase a life annuity
(subject to eligibility age criteria (if any) for buying an annuity policy from annuity
service providers) from any IRDA - regulated life insurance company. You may
withdraw the remaining 20% of your pension wealth as a lump sum. (It is
allowed to subscriber who have been in NPS for at least 10 years).

Note: The Exit & Withdrawal from NPS Tier I account is governed by PFRDA (Exit
& Withdrawals under National Pension System) Regulations, 2015. Please refer to
the FAQ section below on exit and withdrawal procedure from National Pension
System.

Tax Benefits :

Below mentioned table will give you clear understanding of tax benefits
associated with investment in NPS

Cumulative
Maximum deduction under maximum
Section Section
relevant section deduction u/s
80CCE

Deduction towards various contribution or payments

(like Life insurance Premium, annuity, PF, subscription to
Section 80C Rs. 150,000
equity shares or debentures, NSC, ULIP, Fixed Deposits,
Mutual Funds, Housing Loan Repayment etc)

Rs. 150,000
Section 80CCC Deductions towards Pension Fund Rs. 150,000

Employed: 10% of Basic Salary

Section
Contribution towards NPS (Tier 1 account)
80CCD(1) Self-employed person : 20% of
Gross total income

Section
Contribution by any individual to NPS (Tier 1 account) Rs. 50,000 Not Applicable
80CCD(1B)
Section
Employer's contribution towards NPS (Tier 1 account) 10% of Basic Salary Not Applicable
80CCD(2)
 - Also, 40% of pension wealth withdrawn as lump sum from NPS –tier 1
account on attaining 60 yrs of age is tax-exempt.
- Partial withdrawal (not exceeding 25% of own contribution for subscriber
who has been in NPS for at least 10 yrs) made in accordance with the
terms and conditions specified under Pension Fund Regulatory and
Development Authority Act and regulations is tax-exempt

*Tax structure is subject to change as per Income tax laws.

Tier II account: To open this account, you should have an active Tier I
account. This is a voluntary savings facility. There are no restrictions on withdrawal
from tier 2 account. However there are no tax benefits available on investments in Tier II
account.

Note: Government employees are allowed to open standalone NPS Tier II account with any
registered POP. Currently, ICICI Securities is not offering it.

9. If I have invested in any other Provident Fund, can I still invest in NPS?

Yes. Investment in NPS is independent of your contribution to any Provident

Fund.

10. I have invested in pension funds of non government / private entities. Can
I still invest in NPS?

Yes. Investment in NPS is independent of your subscription to any other

pension fund.

11. Can I invest in NPS through ICICI Securities limited?

Yes. ICICI Securities Limited (I-Sec) is registered as a Point of Presence (POP) with
the PFRDA for offering services pertaining to opening and operation of NPS
accounts.

12. How can I apply for the Tier I and Tier II NPS accounts through
www.icicidirect.com?

You can open an online Tier I and Tier II account by logging in into your
www.icicidirect.com trading / investment account and visiting the "Subscribe
NPS" link on the NPS page.

Path : Login—Trade & Invest—NPS—Transact—Subscribe NPS

There is a facility available on the www.icicidirect.com for register either for
Tier I, Tier II (provided Tier I is active) and opening of Consolidated Tier I and Tier
II account at the time of opening NPS account.

While registering for the NPS, the minimum subscription amount criteria
should be met for the each type of NPS Tier account.

13. How will I know my PRAN?

After your NPS / Permanent Retirement Account (PRA) is opened, CRA shall
intimate you about your PRAN. I-Sec would also email you the PRAN
allotment letter. You will also receive a Telephone Password (TPIN) and
Internet Password (IPIN) directly from CRA. The TPIN can be used to access your
NPS account on the call centre number of CRA (1800222080). While your IPIN can
be used to access your account on CRA website
(www.npscra.nsdl.co.in) on a 24 x 7 basis.

14. Will I get a PRAN Card when I open an NPS account through www.icicidirect.com?

No. If you are opening an NPS account by making an online application on

www.icicidirect.com, you will be provided PRAN allotment letter by I-Sec and not
the PRAN Card.

You will have to apply for the PRAN card by submitting Subscriber
registration form & necessary KYC documents in hard copy/ physical form by
next month else CRA shall marked your NPS account as “Dormant” (i.e.
deactivate) as obtaining of the PRAN card fro m CRA is the mandatory
condition imposed by PFRDA . In case, your NPS account is marked
dormant by CRA in that scenario you sha ll submit the physical
Subscriber Registration Form along with requisite KYC documents to
ICICI Securities Limited for onward subm itting the same to CRA for
issuance of PRAN card.

15. Is PRAN card Mandatory?

Based on the recent guidelines issued by PFRDA, PRAN Card has been made
mandatory. If you have not applied for the PRAN Card by the end of the next
month of the PRAN generation, then CRA shall deactivate such accounts. In such
an event you will not be able to place any contribution in your NPS accounts
or place any service request (other than applying for PRAN card), till the accounts
are reactivated (through submission of PRAN Card application)

16. Is there any charges for reactivation after issuance of PRAN card?
Currently CRA is not charging any fee on reactivation of NPS accounts on
issuance of the PRAN card.

17. What is the process for applying for a physical PRAN Card when I open an
NPS account through www.icicidirect.com? Or
What is the process for re - activation of the PRAN marked as deactive due to
PRAN non - issuance?
For applying for the PRAN card you will have to visit the NPS section and click on "
Place Service Request" under services section and take the print out of pre-filled
form, affix recent colour photograph and have to sign wherever applicable within the
highlighted box (in BLACK ink).

Path: Login— Trade & Invest — NPS — Holdings & Services — Place Service Request
—Request for PRAN card

The duly filled form has to be forwarded to the following address:

ICICI Securities Ltd

Sales Operations Dept
Shree Sawan Knowledge Park,
First Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe,
Opp. Juinagar Railway Station, Navi Mumbai - 400705

18. How will I know about the status of the PRAN Card application form?

The status of the PRAN Card can be checked from the CRA site. You may check
“My Message” on ICICIdirect account to know the status if the form was rejected
due to any discrepancies or successfully sent to CRA for further process.
Path : Login—Customer Service ---My Message

In case the form was rejected due to any discrepancy, you are requested to re-
send the form.

19. How will I know about the status of my PRAN Number?

You can track the status of your application by logging in to your

www.icicidirect.com account and visiting the "Subscribe NPS" link on the NPS
page.

In case your application has been successfully processed, your PRAN will be
displayed under the above link.

In case your application form is rejected by CRA for any reason, t he status will
be updated on “My Message”. Further, I-Sec shall also refund to you, your
contribution money together with processing fees and taxes deducted
upfront.

20. How can I make contributions into the NPS account through www.icicidirect.com?
And how will I get tax receipt/statement for investment in Tier 1 account?

To make a contribution to your NPS account, you need to follow below mentioned
path :
Login to ICICIdirect.com--- Trade & Invest–- NPS—Transact--- Place Contribution or
Systematic Investment Plan.

In case you are required to allocate funds then you can allocate funds by following below
mentioned path
Login to ICICIdirect.com--- Trade & Invest–-Allocate Funds --- Add amount under “Mutual
Fund, Corporate Bonds, ICICIdirect Centre for Financial Learning, IPO, Tax, Insurance, Credit
Score, NPS & Others” section

You will receive NPS tax receipt from ICICIdirect.com in your registered email-id within T+3
working days on contribution. You can also download tax statement by following below
mentioned path
Login to ICICIdirect.com –Trade & Invest – NPS – Holding & Services – Tax Statement

21. Are there any conditions for making contributions to the NPS account?

Yes. PFRDA has specified the minimum a nn u al contribution a m o u n t that is to

be made in a financial year (applicable from second financial year of subscription of NPS)
for each type of NPS account. Further, you are required to make your first
contribution at the time of applying for registration with a Point of Presence
(POP). Additionally, the following conditions apply for each of the below
accounts.

Tier I:
· Minimum amount per contribution - Rs. 500/-
· Minimum contribution per financial year - Rs. 1,000/
· Minimum number of contributions – 1 per year

Tier II:
· Minimum amount at the time of account opening - Rs. 1,000/-
· Minimum Amount per contribution - Rs. 250/-

Note: The minimum annual contribution amount and minimum number of

contribution towards NPS Tier I and NPS Tier II account at the end of financial year is
made applicable by PFRDA from second financial year.
You may decide on the frequency of your payments during the year as per
your convenience. Further, you may also contribute the entire minimum
contribution amount as detailed above at the time of registration itself.

22. Can I make contributions to my NPS accounts through the Payment gateway facility
on www.icicidirect.com?

Yes. You can place contribution through Payment gateway from your
registered bank account other than ICICI bank.
Path : Login—Trade & Invest—Mutual Fund—Add bank account

23. Will the government also contribute anything to my NPS account?

No. The Government will not be making any contribution to your NPS
account.

24. What will happen if I do not make the minimum contribution during any financial year?

It is advisable that you make the stipulated contribution on a regular basis in your
NPS account. In case of a default, your account will be deactivated. To activate
your account you would need to start the contribution again.

25. Is there any maximum age limit for making further contribution to NPS Tier I
Account?

Yes. You can make contribution in your NPS accounts till you have not
completed the age of 60 years. In case you wish to contribute up to attainment
of 70 yrs of age, then you need to initiate the process on CRA’s website.
Printout of the duly filled form on CRA’s website/ Screenshot copy of
acknowledgement no., request letter, & self-attested PRAN card copy to be sent
at below mentioned address

ICICI Securities Ltd

NPS Operations Dept
Shree Sawan Knowledge Park,
First Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe,
Opp. Juinagar Railway Station, Navi Mumbai – 400705

Note : After attainment of 60 yrs of age further contribution on request is possible

through offline mode.
You are requested to send duly filled NCIS form, cheque in favour of “ICICI Securities
Ltd. NPS Pool” & self-attested PRAN card copy at the above mentioned address.
(Third party cheque is not accepted)
 Path to avail form : ICICIdirect website—Customer Service---Download forms---NPS—
NPS Contribution Instruction Slip

26. Can I transfer my savings amount from NPS Tier II account to NPS Tier I
account or vice versa?

Yes, you can transfer funds from Tier II to Tier 1 account. There are 2 ways
1. By submitting duly filled UOS-S13 form & self-attested PRAN card copy at below
mentioned address
ICICI Securities Ltd
NPS Operations Dept
Shree Sawan Knowledge Park,
First Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C,
Turbhe, Opp. Juinagar Railway Station,
Navi Mumbai – 400705

Path to avail form : ICICIdirect website—Customer service—Download forms—

NPS—Subscriber request for one way switch from Tier II to Tier 1

2. Redeem funds from Tier II account. On receipt of the funds in linked ICICI bank
account, place contribution or SIP in Tier I account.

Path to redeem Tier II funds : Login—Trade & Invest—NPS—Holdings—Unit

holdings—Tier 2---Redeem

27. Are there any charges for making investments in NPS?

Yes. PFRDA has prescribed charges for various services related to the NPS
account. The same are listed as follows:

Intermediary Method of
Service Charge Head Charges * Deduction
Permanent
Retirement Account
(PRA) Opening
Charges Rs. 40 Through
CRA Annual PRA Cancellation of
maintenance cost units
per account Rs. 95
Charge per
transaction Rs. 3.75
POP(maximum Rs. 200 + 0.25% of
permissible Initial Subscriber contribution (minimum of To be collected
charge for each registration & Rs. 20 and maximum of Rs. upfront
subscriber) contribution upload 25,000)
 Subsequent
Transaction (Regular 0.25% of contribution
Subscriber's (minimum of Rs. 20 and
contribution) maximum of Rs. 25,000)
Service Request
Charges** Rs. 20

Trustee Bank, Custodian, NPS Trust, and PFM shall charge prescribed fees in
addition to the above by way of adjustment in the Net Asset Value (NAV). Also,
persistency charge would be applicable to NPS-All Citizen Model as per conditions stated in
PFRDA circular dated October 31, 2017 (Clarification on Revision of Service Charges to POPs
under NPS-All Citizen & Corporate Model)

*GST as applicable will be levied as per existing laws in addition to the above
charges.

** These include
1. Change in subscriber details
2. Change of investment scheme/ fund manager
3. Processing of withdrawal request
4. Processing of request for subscriber shifting
5. Issuance of printed account statements
6. Any other subscriber services as may be prescribed by PFRDA

The fee structure may change as may be decided by the PFRDA/ NPS Trust
from time to time.

28. How do I pay the charges applicable to my NPS transactions?

The charges applicable on your NPS transactions and GST amount payable
thereon shall be deducted from your allocated amount and the balance amount
will be invested in your NPS account.

Please login to your www.icicidirect.com trading / investment account and

refer NPS Service Charges link for further details.

29. How do I select the Pension Fund Manager for my NPS savings?

You are required to specify your Pension Fund Manager (PFM) at the time of
applying for NPS registration.

You will be required to indicate your preferred PFM out of the 7 PFM identified by
PFRDA.

30. Can I select more than one PFM to manage my savings?

No. You can select only one PFM.

Note : You can select same or different PFM for Tier I and Tier II accounts

31. What is the meaning of Investment Choice?

Investment Choice refers to the feature by which the subscriber specifies the
manner in which his contribution is to be invested. The contributions made by you
towards the NPS account shall be invested by the Pension Fund Manager based
on the asset class allocation given by you, and the value of the pension corpus
shall be totally based on the NAV of the schemes. The NAV of each scheme of the
Pension Fund Manager shall be available on the CRA website, and the link for the
same shall be available on www.icicidirect.com too

32. What are the various investment choices available in NPS?

The following two investment choices are available in NPS:

(I) Active Choice - Individual Funds (Asset class E, Asset class C, Asset class G & Asset class A)
(II) Auto Choice – Life Cycle fund (Aggressive, Moderate (Default) & Conservative)

In Active choice, you have the option to actively decide as to how your NPS contribution
is to be invested in the following asset classes:

Sr. Asset Class Particulars

No
1. Asset Class E (Maximum allocation up
to 50% of investment)
2. Asset Class C (Maximum allocation
up to 100% of investment)
3. Asset Class G (Maximum allocation up
to 100% of investment)
4. Asset Class A (Maximum allocation up
to 5% of investment):
Only for Tier 1 account. Incase
selected for Tier 2 then it will be
considered as investment under Asset
class C by CRA-NSDL. Investment in
Tier 2 –Asset Class A would be
transferred to Tier 2 –Asset Class C by
CRA-NSDL effect from May 22, 2017
Investments in predominantly equity market
instruments
Investments in fixed income
instruments other than
Government securities
Investments in Government securities
Investment in Commercial or Residential
mortgage based securities, Units issued by
Real Estate and/or Infrastructure Investment
Trusts and/or Asset backed securities as
regulated by SEBI, Alternative investment
funds (AIF category I & II) registered with SEBI

The overall asset class allocation under the 'Active Choice' option should be equal to 100%.
In Auto choice, you have choice to select any 1 of the below mentioned option for your
NPS investment.

Sr. Life Cycle Particulars

No
A. Aggressive Life Cycle Maximum investment in equity is restricted to 75%
fund (LC-75)
B. Moderate Life Cycle fund Maximum investment in equity is restricted to 50%
(LC-50)-Default
C. Conservative Life Cycle Maximum investment in equity is restricted to 25%
fund (LC-25)

Asset class wise distribution at different ages for different Life Cycle fund

A) Aggressive Life Cycle fund

Age ( in yrs) Asset Class E Asset Class C Asset Class G

up to 35 75% 10% 15%
36 71% 11% 18%
37 67% 12% 21%
38 63% 13% 24%
39 59% 14% 27%
40 55% 15% 30%
41 51% 16% 33%
42 47% 17% 36%
43 43% 18% 39%
44 39% 19% 42%
45 35% 20% 45%
46 32% 20% 48%
47 29% 20% 51%
48 26% 20% 54%
49 23% 20% 57%
50 20% 20% 60%
51 19% 18% 63%
52 18% 16% 66%
53 17% 14% 69%
54 16% 12% 72%
55 15% 10% 75%

B) Moderate Life Cycle fund (Default scheme under Auto option)

Age ( in yrs) Asset Class E Asset Class C Asset Class G

up to 35 50% 30% 20%
36 48% 29% 23%
 37 46% 28% 26%
38 44% 27% 29%
39 42% 26% 32%
40 40% 25% 35%
41 38% 24% 38%
42 36% 23% 41%
43 34% 22% 44%
44 32% 21% 47%
45 30% 20% 50%
46 28% 19% 53%
47 26% 18% 56%
48 24% 17% 59%
49 22% 16% 62%
50 20% 15% 65%
51 18% 14% 68%
52 16% 13% 71%
53 14% 12% 74%
54 12% 11% 77%
55 10% 10% 80%

C) Conservative Life Cycle fund

Age ( in yrs) Asset Class E Asset Class C Asset Class G

up to 35 25% 45% 30%
36 24% 43% 33%
37 23% 41% 36%
38 22% 39% 39%
39 21% 37% 42%
40 20% 35% 45%
41 19% 33% 48%
42 18% 31% 51%
43 17% 29% 54%
44 16% 27% 57%
45 15% 25% 60%
46 14% 23% 63%
47 13% 21% 66%
48 12% 19% 69%
49 11% 17% 72%
50 10% 15% 75%
51 9% 13% 78%
52 8% 11% 81%
53 7% 9% 84%
54 6% 7% 87%
 55 5% 5% 90%

Please refer PFRDA circular for further details

33. Can I select both investment choices when investing in NPS?

No, you can select either Active Choice or Auto Choice as your option when
making investments under NPS. You may select same or different investment
choice for Tier 1 & Tier 2 account.

34. Can I change my investment choice?

Yes, you can change your Investment Option [Active or Auto] any time
subject to maximum once in a financial year.

Note : Scheme preference change can be exercised once in a FY. i.e.

(Investment Choice and/or PFM and/or allocation can be changed all in 1 go or any
combination just once in FY)

35. What rate of return will my contributions earn?

Your contributions will not earn any specified rate of return.

The PFM will invest your savings in a scheme of your choice. Remember that your
investment allocation is one of the most important factors affecting the growth
of your pension wealth. The rate of return earned by your contribution depends
on the return provided by the asset classes you choose to invest in viz equity
instruments, fixed income instruments, government securities.

Kindly refer the NPS offer document for details on the risks associated with your
investments.

You can also visit below mentioned site to view performance of various PFM
for different schemes

http://www.npstrust.org.in/index.php/navreturns/returns

36. Can I register for NPS without indicating any investment option?

No. You will not be able to register for NPS, unless you have indicated your
Investment choice.
Further, incase you have selected the Active choice option but if you have not
indicated the percentage allocation of your pension wealth across the 3 asset
classes or it does not aggregate to a total of 100%, you will not be able to
submit your online NPS registration application

37. What is meant by Life Cycle fund in the Auto Choice option?

NPS offers an easy investment option, called "Auto Choice", to assist those
customers who do not have the required knowledge to manage their NPS
investments.

Under this Option, the investments will be made in a life cycle fund whereby the
allocation across various assets will be defined as per your age and will be
readjusted as you grow older. Please refer the offer document for details refer
"Auto choice - life cycle fund section".

38. What is the meaning of asset reallocation in the Auto Choice investment option?

If you have opted for Auto Choice, the reallocation of your pension money
among the different asset classes shall take place on your date of birth. All
subsequent investments in your NPS account shall be made as per such
revised asset class allocation as stated in the Lifecycle Fund grid (as defined
by PFRDA).

39. Can I change the Pension Fund Manager for my pension savings?

Yes, you can change your Pension Fund Manager any time subject to once in a
financial year.

Note : Scheme preference change can be exercised once in a FY. i.e.

(Investment Choice and/or PFM and/or allocation can be changed all in 1 go or any
combination just once in FY)

40. Can I have a different Pension Fund Manager and Investment Option for my Tier I and
Tier II account?

Yes. You may select different PFMs and Investment Options for your NPS Tier
I and Tier II accounts.

41. Where can I view my unit holdings held in the NPS Tier I and II account?
You can view your unit holdings by logging on https://cra-nsdl.com/CRA/ (CRA
site) using the IPIN provided by CRA. You can also view the details of the "Unit
Holdings" on NPS page (SOT) of your www.icicidirect.com trading / investment
account.
42. Will I receive a transaction statement on allotment of units in my NPS
account?

Yes. An annual statement containing details of your unit holdings will be

issued by CRA to your registered address within 3 months of the end of every
financial year.

43. Are there any conditions / formalities to be completed for

withdrawing/deferring money from my NPS Tier I account and/or stay invested in
NPS?
NPS account holders will have to comply with the regulations stated in PFRDA
(exit & Withdrawals under the National Pension system) Regulations, 2015.

As per the said Regulations, the NPS account holder has an option to exit &
withdraw from National Pension System under the following scenarios viz. i) On
attending 60 years of age or on attending superannuation age and ii) at any time
before attending the age of 60 years.

Following are the conditions stipulated by PFRDA for withdrawing funds from the
NPS Tier I account:
Vesting Criteria Benefit
At any point in time Compulsory Annuitisation- minimum 80%
before 60 yrs of age Lump sum withdrawal- maximum 20%
(only if subscriber has If Corpus< Rs. 1.00 Lac,then complete withdrawal
been in NPS for at least
10 yrs
On attaining age of -Annuitisation- minimum 40%
60 years and up to - Lump sum withdrawal- maximum 60%
70 years of age -If Corpus< Rs. 2.00 Lac, then complete withdrawal
- Subscriber can stay invested/contribute in the NPS up to the age of
70 years
- Can defer the withdrawal of eligible lump sum amount till the age
of 70 years.
-Annuity purchase can also be deferred for maximum period of 3
years at the time of exit.

Request you to go through the below mentioned links for

more details.
http://content.icicidirect.com/mailimages/CircularClarificationBeyond60yrs.pdf
http://content.icicidirect.com/mailimages/Steps_Deferment_continuation.pdf
Death of the subscriber In such an unfortunate event, option will be available to the nominee
due to any cause to receive 100% of the NPS pension wealth in lump sum. However,
if the nominee wishes to continue with the NPS, he/she shall have to
subscribe to NPS individually after following due KYC procedure.

Process for Deferment/Stay Invested: (At least 30 days before attainment of 60 yrs of age)
1. Login to CRA system https://cra-nsdl.com/CRA/
 2. Click on the ‘Initiate Deferment’ menu and Transaction Type for ‘New Request’.
3. You will have the option to opt for ‘Deferred Lump-sum’ and/or ‘Deferred Annuity’. You
are requested to tick the checkboxes provided for ‘Deferred Lumpsum’ and/or ‘Deferred
Annuity’. Further, you need to provide your mobile number. In this scenario you will not
be able to contribute further in NPS.
4. You will also have the option to continue contribution in deferment period. For this, you
need to tick the checkbox for ‘I want to contribute in Deferment period’.
5. If you opt for contribution in deferment period, then by default ‘Deferred Lump-sum’ and
‘Deferred Annuity’ will be ticked.
6. You will be provided acknowledgment number on successful submission of request.
7. Request letter along with screen shot/copy of the acknowledgement number to be sent
at below mentioned address

ICICI Securities Ltd,

NPS Operations Dept,
Shree Sawan Knowledge Park,
Plot No. D-507, T.Ts Ind Area,
M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai – 400705

Note : For further contribution you are requested to adopt offline service

Duly filled NCIS form, cheque in favour of “ICICI Securities Ltd. NPS Pool”, self-attested
PRAN card copy to be sent at the address mentioned above.
(Third party cheque will be rejected)

NCIS form is available on ICICIdirect website

Path : ICICIdirect website—Customer Service---Important Information ---Download forms
---NPS---NPS Contribution Instruction Slip

Process for Normal Withdrawal (Attainment of 60 yrs of age):

(Initiate process at least 30 days prior to attainment of 60 yrs of age)

1. Login in CRA site https://cra-nsdl.com/CRA/ and fill up online withdrawal form.

2. Take the printout.
3. Affix latest color photograph and sign across the photograph
4. Pre-signed receipt (signature across on Re.1 Revenue stamp) acknowledging the receipt
of proceed.
5. Signature needs to be done in front of I-Sec official. I-Sec official needs to declare it on
the form by putting stamp & signing on the withdrawal form as stated in the form
6. Subscriber also have to obtain signature of the Authorised Signatory and affixation of
Corporate Rubber stamp on the withdrawal form (if applicable)
7. Witness signature as mentioned in the form is also required.

(Use of black ink only on the form)

Documents to be submitted along with the form are mentioned below:

1. Original PRAN card

2. Cancelled cheque (as per the bank details filled up in withdrawal form)
3. Self attested age proof (as per details in withdrawal form)- Original & Signature Verification
by ICICI Securities official is required
4. Self-attested address proof (as per details in withdrawal form)- Original & Signature
Verification by ICICI Securities official is required
5. Self-attested identity proof (as per details in withdrawal form)- Original & Signature
Verification by ICICI Securities official is required

Duly filled form & documents to be sent at below mentioned address

ICICI Securities Ltd,

NPS Operations Dept,
Shree Sawan Knowledge Park,
Plot No. D-507, T.Ts Ind Area,
M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai – 400705

44. What will happen to my savings if I decide to retire before age 60?

To withdraw from your Tier I account before 60 years of age, you would be
required to invest at least 80% of your pension wealth to purchase a life annuity
(subject to fulfillment of eligibility age criteria (if any) from any IRDA - regulated
life insurance company. You may withdraw the remaining 20% of your pension
wealth as a lump sum.
(Note: Premature withdrawal only if subscriber has been in NPS for at least 10 yrs)

Partial Withdrawal :Up to 25% of own contribution for Marriage or Higher education of
children or purchase of house/flat or for prescribed illness (subject to certain conditions) if
subscriber has been in NPS for at least 10 yrs)

45. Who are the Annuity Service Providers(ASP) for NPS accounts?

Pension Fund Regulatory and Development Authority (PFRDA) has

empanelled the following 5 IRDAI approved life insurance companies for
providing annuity services to the subscribers of National Pension System
(NPS).
1. Life Insurance Corporation of India
2. SBI Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. Star Union Dai-ichi Life Insurance Co. Ltd.
5. HDFC Standard Life Insurance Co. Ltd.

Please click on below link to know more about respective ASP contact person, address,
email-id and contact details
http://www.npstrust.org.in/content/list-annuity-service-providers-asps-empanelled-pfrda
NPS subscribers have a choice of selecting the Annuity Service Providers, from
whom they can choose their annuity schemes on their exit from NPS on
attainment of 60 years of age (where-in at least 40% of the accumulate amount
of NPS Tier I account should be annuitised) or they can opt for the same before
attaining 60 years of age (where-in at least 80% of the accumulate amount of
NPS Tier I account should be annuitised).

Annuity Service Providers are in process of floating the annuity schemes and
CRA shall be issuing the operational guidelines for the same.

46. Can I register a SIP request for making investment in my NPS account? How
will the SIP request work?

Yes. I-Sec offers you a facility to place a SIP request for making periodical
investment in your NPS account on www.icicidirect.com.

47. How can I register a SIP request for my NPS investment?

To place a SIP request, you will have to login to your www.icicidirect.com

trading/ investment account and select the SIP option displayed on the NPS
page under Transact section

Here you will be required to specify the following details:

a. Start Date: This is the date on which you want your SIP to start and your
contribution to be given to CRA. (Remember - Your SIP Start Date cannot be the
date prior to the date of your NPS registration)

b. Amount: The amount you wish to invest in each SIP (The minimum amount to
register an NPS SIP in Tier 1 account is Rs. 500/- & Tier 2 is Rs. 250/-)

c. Frequency: The frequency at which you want the SIP investments to be

made in your NPS account (Choose between options - Monthly/Bi-Monthly( once
in two months)/Quarterly
If you choose the Bi-Monthly option, after your first investment on the start
date, no investment will be made in the subsequent month. The next SIP date will
be in the month following such subsequent month. Hence, there will always
be a gap of a month between the SIP dates. In Bi-Monthly option, your order is
triggered 6 times in a year.

For instance: If you have selected the SIP (Bi-Monthly) option and your start
date is January 5, 2011, your first order will be triggered on the selected date viz
January 5, 2011 and your next SIP order will be triggered in March (not February)
on the calculated date.
d. Period: Indicate the period during which you would want the periodical NPS
contributions to be placed. The maximum period you can select is 300 months.

Once you have clicked on the final confirmation, the details of the SIP request
would be displayed on the SIP Book page.

Please note that if a SIP trigger is on the 31st and the month has only of 30
days, the contribution request will be processed on the next business day
after the 30th.

48. Can I cancel my SIP request? What is the process for canceling my SIP
request?

Yes. You can cancel the SIP request anytime. To cancel your SIP request, you will
have to visit the "SIP order book" page and select cancel option.

49. Can I modify my SIP request? What is the process for modifying the
request?

You will not be able to modify a registered SIP request. However, you can
cancel the said SIP request and place a new SIP request as per the modified
parameters.

50. I have forgotten to allocate enough funds for my NPS SIP order on the SIP
date. Is my order liable to be rejected?

It is advisable that you allocate sufficient funds under the "MF, IPO, Insurance, NPS
and others" section in your trading account towards your NPS SIP orders.

In case you have not allocated the required amount, I-Sec will place the order
only after checking that sufficient clear funds are available in your linked bank
account. In case clear funds in your linked bank account are not sufficient to place
your NPS SIP order, the entire NPS SIP order would fail.

Please note that NPS SIP order will not be placed for partial amount/quantity. In
case sufficient balance is not available in your account, your entire order will
fail.

51. Can I appoint nominees for the NPS Tier I & II Account?

Yes. You have to appoint minimum 1 and maximum up to 3 nominees

for your NPS Tier I & II account.

You are required to specify the percentage of your saving that you wish to
allocate to each nominee. The share percentage across all nominees should
collectively aggregate to 100%.
Note :
1. Please refer PFRDA guidelines on whom you can nominate to your NPS accounts and
when the subscribers are required to register fresh nominee ( click here - to know more).
2. Same or Different Nominee(s) with same or different share% for NPS Tier I & NPS Tier II
allowed.
3. NPS account Holders can change nominee(s) at any time by submitting duly filled UOS-S2
form-Subscriber detail change form along with self-attested PRAN card
Form is made available by following below mentioned path

Trade & Invest---NPS---Services--Place service request---

select Tier I/Tier II account- Change Nominee request

52. What is the process for making a nomination on www.icicidirect.com?

The process of nomination has been included in the registration process on

www.icicidirect.com. At the time of applying for registration on
www.icicidirect.com, the system will ask you to choose the option for making a
nomination.

The online NPS registration process on www.icicidirect.com comprises of 4

steps. In the first step, you will be asked whether you wish to make a
nomination. If you select the option "Yes", you will be required to provide the
details of your nominee such as Name, Date of Birth, your relationship with the
nominee and the percentage allocation of your accumulated pension
savings that you wish the nominee should acquire.

In case you are appointing a minor as your nominee, you will be required to
specify the details of the guardian also.

53. I have not made any nomination at the time of registration. Can I nominate subsequently?
What is the process?

If you have not made the nomination to your NPS account at the time of
registration, you can do the same after the allotment of PRAN. You will have to
visit the "Place Service Request" link on the NPS page under Services
section of your account & download the physical form UOS-S2 (Request for
Change / Correction in Subscriber Master Details and / or Re-issue of
IPIN/TPIN/PRAN Card) and submit the same to ICICI Securities Limited at the
under mentioned address:

ICICI Securities Ltd.

NPS Operations Department
Shree Sawan Knowledge Park
Plot No. D-507,T.T.C.Ind.Area
MIDC, Navi Mumbai -400705

54. Can I change the Nominees for my NPS Accounts?

Yes. You can change the nominees in your NPS Tier I account at any time after
you have received your PRAN.

To change your nomination, visit the 'Place service requests' link on NPS page of
your www.icicidirect.com trading / investment account.

55. Are there any charges for making a nomination?

If you are making the nomination at the time of registering for PRAN, no
charges will be levied to you.

However, a subsequent request for nomination updation would be considered

as a service request and you will be charged an amount of Rs. 20/- plus
applicable GST for each request.

56. What is the transmission process to be followed by a nominee in case of death of the
NPS account holder?

In case of the death of the NPS account holder, the nominee(s) may opt to
receive 100% of the NPS pension wealth of the deceased NPS account holder in
lump sum or they may opt for buying annuity from the Annuity Service Provider.

In case the NPS account holder has not register nominees in his NPS account in
that scenario the legal heirs of the NPS account holder will have to obtain legal
heir certificate and they shall also have an option to receive 100% of the NPS
pension wealth of the deceased NPS account holder in lump sum or they may
opt for buying annuity from the Annuity Service Provider.

The nominee(s) or legal heir(s), as the case may be, will have to fill-in Form 303
(in BLACK INK) and has to submit along with the under mentioned documents to
POP:

1. Original Death certificate of NPS account holder (Subscriber).

2. ORIGINAL copy of PRAN card and if the same is not available then the
subscriber has to submit the notarised Affidavit for non submission of
PRAN card by the claimant (format as stated by CRA-Nsdl)
3. Incase of No Nominee: Certified photocopy of family member's certificate
issued by Executive Magistrate.
4. Legal Heir Certificate (if applicable).
 5. Cancelled Cheque or Bank Certificate of the claimant/s and Nominee(s).
6. Pre-signed receipt (signature across on Re.1 Revenue stamp)
acknowledging the receipt of proceed. Kindly note each nominee/legal heir
has to pre-sign the receipt.
7. Self certified photo copy of additional Proof of Identity document (PAN
card, Aadhaar, Passport etc) and Proof of Address (PAN card, Aadhaar,
Passport etc). (Refer instruction 4 of the said form).

The nominee(s) / Legal heirs have to visit the nearest office of ICICI Securities
Limited and will have to sign in front of the official and will also have to show the
original documents to the official for verification.

Note: If the subscriber belongs to Corporate NPS Model then the subscriber
shall also have to obtain signature of the Authorised Signatory and affixation of
Corporate Rubber stamp.

57. What is the transmission process in case of death of NPS account holder
who has not selected a nominee?

It is advisable that the NPS subscribers register their nominee(s) in their NPS
accounts.

PFRDA has came out exit and withdrawal regulations which shall govern the exit
and withdrawal options from National Pension System. The legal
heir(s)/nominee(s) has an an option to receive 100% of the NPS pension wealth
of the deceased NPS account holder in lump sum or they may opt for buying
annuity from the Annuity Service Provider.

The nominee(s) or legal heir(s), as the case may be, will have to fill-in Form 303
(in BLACK INK) and has to submit along with the under mentioned documents to
POP:

1. Original Death certificate of NPS account holder (Subscriber).

2. ORIGINAL copy of PRAN card and if the same is not available then the
subscriber has to submit the notarised Affidavit for non submission of PRAN
card by the claimant (format as stated by CRA-Nsdl)
3. Incase of No Nominee: Certified photocopy of family member's certificate
issued by Executive Magistrate.
4. Legal Heir Certificate (if applicable).
5. Cancelled Cheque or Bank Certificate of the claimant/s and Nominee(s).
6. Pre-signed receipt (signature across on Re.1 Revenue stamp) acknowledging
the receipt of proceed. Kindly note each nominee/legal heir has to pre-sign
the receipt.
7. Self certified photo copy of additional Proof of Identity document (PAN card,
Aadhaar, Passport etc) and Proof of Address (PAN card, Aadhaar, Passport
etc). (Refer instruction 4 of the said form).
58. How do I place various NPS related service requests on
www.icicidirect.com?

You can place a service request by visiting the "Place Service Request"
option on the NPS page under Services section of your www.icicidirect.com
trading / investment account.

59. What is the process for changing the correspondence address, bank
account details for my NPS account?

To change your address in the NPS account, you will have to first update the
new address in your www.icicidirect.com trading /Investment Account. Once the
same is done, you need to send the physical form (UOS-S2 subscriber details
change form) available on www.npscra.nsdl.co.in ,with the attachments (self
certified photo copy of the address proof (as mandated by PFRDA), cancelled
cheque, bank account statements. etc.) & self-attested PRAN card copy to the below
address:
(Note : Original & signature to be verified by I-Sec official. Please carry originals for
verification)

Note : In case of any other details change in NPS account same process has to be followed
with relevant self-attested supporting documents, original & signature verification by I-Sec
official.

ICICI Securities Ltd,

NPS Operations Dept,
Shree Sawan Knowledge Park,
Ground Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C,
Turbhe, Opp. Juinagar Railway Station,
Navi Mumbai 400705

60. How can I raise my queries / complaints for matters relating to my NPS
accounts / savings?

In case of any queries for matters relating to your NPS account(s), please feel free to contact us
at our Customer Care Number which are stated on www.icicidirect.com or you can mail your
query to us on npshelpdesk@icicisecurities.com

For complaints, we request you to refer process as mentioned in our Grievance Redressal
Policy. http://content.icicidirect.com/mailimages/Grievance_redressal_policy.pdf

You may also walk in to your nearest ICICIDirect centre to seek clarifications/
express your grievances.

Please ensure that you have mentioned your PRAN in your grievance letter.
61. Can I raise my queries / complaints directly with CRA?

Yes. The NPS also has a multi layered Grievance Redressal Mechanism which is
easily accessible, simple, quick, fair, responsive & effective. You can register your
grievance / compliant by calling at the CRA call centre at toll free telephone
number 1-800-222080 or by registering the grievance on https://cra-
nsdl.com.

You will have to authenticate yourself through the use of T-PIN (in case of call
centre) /I-PIN (while registering on the site) allotted to you.

On successful registration of your grievance, a token number will be allotted to

you for all future references.

62. How can I track the status of resolution of my grievance that I have
registered with CRA?

You can check the resolution status of your grievance by logging in to the
CRA website www.npscra.nsdl.co.in

If you have raised your grievance through CRA, you may contact the CRA Call
Center and enquire about the resolution of your grievance by mentioning the
token number. You can also raise reminder through any one of the modes
mentioned above by specifying the original token number issued.

63. What can I do if I do not get a response from the CRA?

If you do not receive any response within 30 days or are not satisfied with the
resolution provided by CRA, you can apply to the Grievance Redressal Cell (GRC)
of PFRDA.

Grievance received by the GRC, directly from the subscribers only shall be
entertained. GRC shall not entertain any complaints written on behalf of the
subscribers by advocates, agents or third parties unless formally authorized by
the subscriber.

Complete address of the GRC of PFRDA as under:

Grievance Redressal Cell
Pension Fund Regulatory and Development Authority
1st Floor, ICADR Building, Plot No. 6, Vasant Kunj,
Institutional Area, Phase - II, New Delhi - 110070, Tel: 011-
26897948-49, FAX: 011-26892417,
Email: grcpfrda@gmail.com

64. What is Swavalamban scheme?

Swavalamban scheme has been launched by the Government of India to
provide a pension scheme to persons employed in the unorganised sector.

Accordingly, any Indian citizen between the age of 18 to 60 years, working in the
unorganised sector, who have opened National Pension System (NPS)
accounts in the year 2010-11 and who fulfills the eligibility criteria laid down by
the Government of India can opt for the Swavalamban scheme also called as
"Swavalamban Yojana”.

As per PFRDA circular PFRDA/ 2013/15/POP/1 dated 17th September 2013 no new
NPS- Swavalamban subscriber registration would be allowed through POP’s
on the all citizen model (UOS) on or after 01/10/2013. Hence, we will not be able
to provide the same under NPS Lite.

65. How can I opt out of the Swavalamban Scheme?

Currently, there are few NPS account holders who have opened the NPS
accounts under the NPS Swavalambam option with us are required to migrate
their NPS accounts to POP who are registered under NPS Lite in case they want
to continue to hold the NPS accounts with Swavalambam option.

In case you want to opt out of the Swavalamban scheme, then follow the
below mentioned steps:
1. Log in to your online ICICIDirect.com trading account and visit the "Place
Service Request" page under NPS product.
2. Click on the link "Opt out of Swavalambhan"
3. Select the "Confirm" to switch out from Swavalamban to non-swavalamban by
accepting the declaration for opting out from Swavalamban Scheme.

Subsequent to the above, the benefit of government contribution will not

accrue to your NPS account after the date on which you become ineligible.

66. What is the timeline of the processing of the NPS Contribution?

The timelines for processing of the NPS Contributions and the credit of the
units in your NPS account are dependent on successful funds settlement and
processing of the transaction by the Trustee Bank (currently - Axis Bank) and
Central Record Keeping Agency( NSDL).

67. Can I place the service request online?

You can place following service request online by visiting the

www.icicidirect.com and logging in to your account:
Change of PFM
Change of Investment option(Active/Auto) and allocation
Opt out of Swavalamban Scheme
NPS Tier II withdrawals

Other service requests are available in the offline mode:

Registration / Change of Nominee (form No.UOS-S2)
Issuance of IPIN/TPIN Issuance and Re-issue of PRAN Card (Form No. UOS-S2)
Photo signature modification (Form No. UOS-S7)
Address updation (Form No. UOS-S2)
Bank account updation (Form No. UOS-S2)

68. What is the TAT of the processing of the NPS Contribution?

The TAT of the processing of the NPS Contributions and the credit of the units in
your NPS account are dependent, post the funds settlement and
processing of the transaction has been successfully processed by the Trustee
Bank (Axis Bank) and Central Record Keeping Agency (NSDL).

69. What will happen to my NPS account in case I wish to close my ICICIdirect
account?
Your NPS account would not be closed on account of closure of ICICIdirect account.
In this scenario, you need to shift your existing NPS account to offline NPS-
UOS(Unorganized sector)/Individual model.
You shall have to shift to NPS-UOS offline model by submitting duly filled Sector
shifting form: ISS-1 and self-attested PRAN card copy at below mentioned address

For further investment in NPS, you will have to submit NCIS form, self-attested PRAN
card copy, and cheque (Third party cheque not accepted) for contribution. Cheque
should be in name of “ICICI Securities Limited NPS Pool”

Duly filled form & documents to be sent at below mentioned address

ICICI Securities Ltd,

NPS Operations Dept,
Shree Sawan Knowledge Park,
Plot No. D-507, T.Ts Ind Area,
M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai – 400705

You can avail the form by following below mentioned path

(i) www.icicidirect.com —Customer service —Overview---Important Information---
Download forms —NPS
Or
(ii) Login in I-Direct account— Trade & Invest---NPS---Holding & Services---Forms

70 . What are variants of Annuity plans provided by Annuity Service Providers(ASP) ?

Below mentioned are few variants of annuity. The variants may vary for different ASPs.
1. Pension (Annuity) payable for life at a uniform rate to the annuitant only
2. Pension (Annuity) payable for 5, 10, 15 or 20 years certain and thereafter as long as you
are alive
3. Pension (Annuity) for life with return of purchase price on death of the annuitant (Policy
holder)
4. Pension (Annuity) payable for life increasing at a simple rate of 3% p.a.
5. Pension (Annuity) for life with a provision of 50% of the annuity payable to spouse during
his/her lifetime on death of the annuitant
6. Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse
during his/her lifetime on death of the annuitant
7. Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse
during his/her lifetime on death of the annuitant and with return of purchase price on
death of the spouse. If the spouse predeceases the annuitant, payment of annuity will
cease after the death of the annuitant and purchase price is paid to the nominee