National Pension Programme: Department of Posts starts providing NPS services through online mode

The Department of Posts said on Thursday said that people can now sign up for the national pension program online, as per PTI report.

Since 2010, the Department of Posts (DoP) has been offering the National Pension Scheme (NPS-All Citizen Model Scheme) through its designated post offices. It is a voluntary Government of India pension scheme administered by the Pension Fund Regulatory and Development Authority (PFRDA).

"Department of Posts is now pleased to start providing NPS (All Citizen Model) through online mode with effect from April 26, 2022," the statement said.

According to PTI, any Indian citizen between the ages of 18-70 can use the online service by going to the India Post's official website and clicking on the menu head "National Pension System -Online Services."

"Facilities like new registration, initial/ subsequent contribution and SIP options under NPS Online are available to the customers at minimum charges for all services," the statement said. DoP claims to have the lowest NPS service charge.

Subscribers are also eligible for a tax deduction in NPS based on the Ministry of Finance's declarations submitted from time to time under sec. 80CCD 1(B), PTI said.

"This online facility may be availed by all eligible persons for NPS without physically visiting any post office and to enjoy the hassle-free experience at a minimum fee structure," the statement said.

(With PTI inputs)