All Indian citizens between 18 – 85 years of age can invest in NPS. However, the following applicants cannot join:

• Undischarged insolvent - Individuals who are not granted an 'order of discharge' by a court.
• Individuals of unsound mind - An individual is said to be of unsound mind for the purposes of making a contract if, at the time when he makes it, he is incapable of understanding it and of forming a rational judgment regarding its effect upon his/ her self-interest.

Your contribution amount to National Pension Scheme is tax free, i. e, it is deductible from the total income, subject to upper limits.

• Voluntary Contribution - Benefit Up to Rs.50,000 deductible under section 80CCD (1B) over and above the limit of 80CCE for old tax regime.
• Employer contribution - Opportunity to get additional Tax deduction up to 10% of salary (basic + DA) by employer, beyond ₹2 lacs to an extent of Rs. 7,50,000* contributed by employer under Sec 80 CCD(2) for old tax regime.
• Employer contribution - Opportunity to get additional Tax deduction up to 14% of salary (basic + DA) by employer to an extent of Rs. 7,50,000* contributed by employer under Sec 80 CCD(2) for new tax regime.
• Tax free Maturity - On maturity, the subscriber is allowed to withdraw 80% or the corpus as lump sum. 60% of withdrawal will be tax free Income Tax Act 1961 - Section 10 (12A). And rest 40% must be annuitized.
• Tax Free Partial withdrawals - As subscriber is free to withdraw up to 25% of the voluntary contributions.

• No lock in period for pre-mature exit
• If NPS corpus ≤ ₹5 lakh, the subscriber can withdraw 100 percent
• If corpus > ₹5 lakh, only 20 percent can be taken as lump sum and 80 percent must be invested in annuity.