Pension Fund

Corporate NPS

Corporate NPS is available to organized sector employees working in organizations registered under the Corporate NPS Model. Launched in December 2011, Corporate NPS is regulated by PFRDA. It is a voluntary contribution scheme where periodic contributions are made by the employer on behalf of the employee to the employee's NPS account. Employees of both public and private sectors companies can choose to join NPS under the corporate model.

Who can join Corporate NPS?

Indian employees (Resident/Indian Origin/OCI) of a corporate entity which has implemented NPS in the organization

The subscriber should be between 18 to 70 years on the date of opening the NPS account.

Compliant with KYC norms

Corporate NPS model is available for entities as listed under:

Entities registered under Companies Act
Entities registered under various Co-operative Acts
Central/State Public Sector Enterprises
Registered Partnership Firm / Limited Liability Partnership (LLPs)
Any Body incorporate under any act of Parliament or State Legislature or by order of Central/State Government
Trust/Society/Proprietorship Concern

How does Corporate NPS Works

Any corporate registers with ABSLPFML to offer NPS benefits to its employees

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Employee shifts his/her existing NPS account with PRAN number to this corporate or open a new account

Accumulation Phase

Employee starts regularly contributing to NPS

Upon exit, employee can withdraw a certain portion of his/her corpus as lump sum and remaining is used to purchase annuity

Pension Phase

Employee continues to receive pension via annuity in their post-retirement phase

Benefits of Corporate NPS for Employees

Offers tax benefits to employee and employer

Seamless portability across jobs and geographies

Flexibility to choose their investment options

FAQs

What is a national pension scheme?

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What is a national pension scheme?