NPS
NPS Tier I, Tier II accounts: 5 lesser known facts, know about them before you invest During the process of opening the NPS account, there are two different accounts in the scheme- Tier I NPS account and Tier II NPS account. With the new rules regarding the taxation of the withdrawal amount at the time of maturity, the interest in the National Pension System (NPS), seems to be picking up. To open the NPS account, one may visit any authorised POP( point of presence) or can get an eNPS opened online. During the process of opening the NPS account, there are two different accounts in the scheme- Tier I NPS account and Tier II NPS account. Let us see what are NPS Tier 1 and Tier 2 accounts and how different are they from each other and also see out of NPS Tier 1 and Tier 2 accounts which one is better. 1. Is Tier 2 account mandatory The Tier 1 NPS account is the mandatory account and on opening the NPS it automatically gets created by filling the Subscriber Registration Form. The...