7 new customer-friendly features of nps – the economic times how to invest in gold online

7 new customer-friendly features of nps – the economic times how to invest in gold online The National Pension System (NPS) has crossed the milestone figure of 1 crore and Rs 1 lakh crore in terms of the number of subscribers and assets under management (AUM) respectively. Invest in gold now Currently, it has more than 1.30 crore subscribers with a total AUM of more than Rs.1.37 lakh crore. Why invest in gold etf But when it comes to non-government business, the NPS figures aren’t that impressive. Should i buy physical gold The unorganised (all citizen segment) and the corporate sector form only 5.6 per cent of the subscribers and 9 per cent of AUM under NPS, while only 7,500 out of the 55,600 PoP (point of presence) branches, i.e., 13 per cent,

are active in sourcing NPS accounts.

The NPS is an investment that is largely focused on one’s retirement. How to invest in gold with little money While up to 60 per cent of the maturity corpus can be withdrawn as a lump sum on maturity, the balance is compulsorily annuitised, i.e., balance is used to fund the annuity (pension) after retirement.

Can i buy gold bars This annuity is fully taxable in the year of receipt as income from other sources. NPS suits those who are looking to save for retirement but are not comfortable in making proper asset allocation or selecting the right schemes, and are also not in a position to cull out the right investment options. Can i buy gold using credit card In short, those who don’t want to actively manage their retirement portfolio of debt and equity, NPS is one solution.

Remember, for someone joining the NPS at age 30 and investing for retirement for another 30 years with life expectancy of say, 90, nearly six decades of active investing is required. Can i buy gold in my ira It helps make equity and debt asset class available in one place with an option to switch between them with varying allocation.

Should i invest in gold or silver 2015 Even on maturity, it takes care of one’s pension without much active involvement. Guide to invest in gold and silver And the way it is structured, NPS will provide for a base-level of income after retirement till death. It, however, might not suit someone who can comfortably manage his investments across asset classes and schemes even if it is for a long period.

The single most important advantage that the NPS has had since its very first day is its low cost. Why should i buy gold now Over time, a decent fund performance has helped it to sail through, albeit at a slow pace. Guide to invest in gold and silver Recently, the government introduced additional tax benefit for investment in NPS and also gave tax-exempt status to 40 per cent of the corpus amount on maturity. The portion of the accumulated corpus that has to be compulsorily invested in an annuity has to be purchased from an insurance company.

Should i invest in sbi gold fund Two stumbling blocks remain in the way of NPS becoming more of a pull-product. Can i buy gold for wow One, the taxation of annuities, and second, the annuity returns are low and hardly able to beat inflation.

Other changes such as increasing the limit of equity allocation to 100 per cent and bringing in active fund management option for equity investments as opposed to index-based in the current form, may add lustre to NPS, but the taxation of annuities remains the biggest stumbling block. The government is doing all that it can to popularise the NPS. Why not to invest in gold shares Here are a few steps it has taken to make it more customer-friendly. A free mobile app for NPS subscribers called ‘NPS by NSDL e-Gov’ has been launched. Should i invest in gold sovereigns They can now view their NPS account, scheme-wise holdings, along with the latest Net Asset Value (NAV) and the total value of the schemes through the app. How to invest in gold on the stock market Moreover, the subscribers can look at the transaction statement for a particular financial year, details of the last five contributions and also change contact details.

How to invest in gold south africa One can also switch among fund managers, asset class and change the allocation ratio. An NPS subscriber can now update or modify his address on his own using Aadhaar-based authentication. How to invest in gold singapore Once the subscriber logs in, he just has to click on “Update Address” by providing the Aadhaar number and then click on the ‘Submit’ button after which an OTP (one-time password) will be sent to his mobile. Should i invest in gold funds Once he authenticates by submitting the OTP, the address details from the Aadhaar system will be fetched and updated in the system.

Can i buy gold with bajaj emi card The subscriber will then be able to update both permanent as well as correspondence address. The ‘eNPS’ subscribers can now access the system immediately after registering without waiting for physical IPIN to be dispatched. Should i buy yamana gold stock They will be able to generate IPIN instantly and access their NPS account.

Using IPIN credentials in the system, the subscriber can login and click on the “Contribution” button. How to invest in gold and silver in india On submission, he will be redirected to the eNPS contribution page from where the contribution can be made. Any subscriber with a Tier I account, i.e., the first or opening account, in NPS can now activate Tier II (or second) account online through eNPS by entering the PRAN (Permanent Retirement Account Number), date of birth and PAN. How to invest in gold nz An OTP will be generated and sent to the registered mobile number. How to invest in gold uk The subscriber has to then enter the OTP and proceed for Tier II activation under NPS. Till now, there was no provision for transfer of funds from Tier II to Tier I account.

How to buy gold in india online Now, the PoP can process a subscriber request to transfer funds. Can i buy gold coins at the bank There is no limit (minimum or maximum) on the amount and number of one-way switches that can be requested by a subscriber. The Tier II account is similar to a savings account as there is no lock-in period.

Is it good to invest in gold coins At present, to withdraw from a Tier II account, the subscribers have to approach the PoP. Time to invest in gold 2015 However, now they can withdraw from their Tier II account by using their login credentials and OTP authentication on registered mobiles. In line with the Atal Pension Yojana (APY) module, the PFRDA (Pension Fund Regulatory and Development Authority) is exploring the development of NPS module linked with core banking solutions (of the banks). Is it safe to invest in gold etf This might turn a new leaf in increasing NPS’s subscriber base.

Rather than comparing the costs and returns of NPS against other investment avenues such as equity mutual fund, one needs to understand the objective and the working of these investment products. Why invest in gold 2015 While the latter may cater to any medium-to-long term need with enough liquidity options, the former is more of a closed-end investment. How to invest in gold coins So invest in NPS keeping in mind the number of years left for you to retire and your life expectancy.

Site: http://economictimes.indiatimes.com/wealth/invest/7-new-customer-friendly-features-of-nps/articleshow/53650690.cms