NPS: Can you open more than one National Pension Scheme account? Check here

Zee Biz web team

ZeeBiz Desk

Jul 09,2024

The NPS or National Pension Scheme, is a market-linked defined contribution plan that helps you save for retirement. NPS is one of the most effective schemes to increase your retirement income while saving taxes.

Who can join the NPS?

Any citizen of India (both resident and non-resident) in the age group of 18-70 years (as of the date of submission of NPS application) can join NPS.

Can I open more than one NPS account?

No, one person can only open one NPS account, as per the government rules.

Is there any other option?

Yes, an individual can have one account in NPS and another in Atal Pension Yojana.

What is Atal Pension Yojana (APY)?

The pension system, named after former Prime Minister Atal Bihari Vajpayee, provides social security to workers in the unorganised sector.

APY is available for all bank account holders, and any Indian citizen aged between 18-40 can get the benefit of APY.