Can NRIs invest in National Pension Scheme? - Fusion - WeRIndia

Can NRIs invest in National Pension Scheme?

National Pension Scheme

National Pension Scheme (NPS) is a defined contribution pension scheme which is given by government of India on a voluntary basis to all citizens of India except government employees who are covered by NPS.

In order to invest in an NPS, one needs to open a NPS account through the Point of Presence (POP) and who will assists the subscriber in opening the account in order to fill up the necessary forms by providing the information about NPS and other relevant information in this regard.

An NRI can open an NPS account. The contributions which are made by NRI are subject to regulatory requirements as prescribed by RBI and FEMA from time to time. However, it is important to note that if the citizenship status of the subscriber changes, his/her NPS would be closed.

The charges which are applicable on the NPS transactions and service tax amount payable will then be deducted from one’s contribution amount and the balance amount will be invested in the NPS account.

A person can get free nomination option at the time of opening. It should be noted that a subsequent request for nomination updation is considered as a service request and one will be charged an amount of Rs.20 plus applicable service tax for each request.

Image Reference: Rediff

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