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NPS Webinar Presentation - 3 (2).pptx
- 1. Confidential. NSDL e-Gov Internal use only NSDL e-Governance Infrastructure Limited 1 National Pension System Subscriber Awareness Program
- 2. Confidential. NSDL e-Gov Internal use only NSDL - Celebrating an iconic journey of more than 20 years AADHAAR Connected with more than 10 crores citizens of India DEMAT ACCOUNTS Maintaining more than 2 crores Demat accounts PAN CARD More than 30 crores PAN PRAN 3.5 Crores and counting
- 3. Confidential. NSDL e-Gov Internal use only NSDL - Celebrating an iconic journey of more than 20 years Higher Education Loans ---- Vidya Lakshmi www.vidyalakshmi.co.in Scholarships from Corporates ---- Vidyasaarathi www.vidyasaarathi.co.in Aadhaar authentication; e-KYC and eSign Services GST Suvidha Provider (GSP) and GST Verification Services (GVS)
- 4. Confidential. NSDL e-Gov Internal use only 4 Stakeholders in NPS Subscribers Pension Fund Manager Central Recordkeeping Agency Point of Presence
- 5. Confidential. NSDL e-Gov Internal use only Features of NPS Open for all Indian citizens between 18 – 65 years Unique and Portable Permanent Retirement Account Number (PRAN) Option of Pension and Investment Account Partial Withdrawal Flexible Exit Options Tax Benefits u/s 80CCE & 80CCD(1B) 5
- 6. Confidential. NSDL e-Gov Internal use only Features of NPS – Cont.. Minimum Contribution per Year – – Tier I – Rs 1000/- – Tier II – NA Frequency of Contribution – Minimum Once a Year, However SIP is advised due to Rupee Cost Averaging. Methods of contribution – Credit Card, Debit Card, Internet Banking (advisable due to low charge), UPI (Limit 1 Lakh) Freezing of PRAN – – Nil Contribution in a year in Tier I – KYC update, FATCA compliance – Duplicate PRAN, Non IRA
- 7. Confidential. NSDL e-Gov Internal use only How to avail the Tax Benefit Benefits available u/s 80CCE Upto 1.5 lacs Exclusive Tax Benefit u/s 80CCD (1B) Your Salary = Rs 40,000 Annual contribution towards NPS = Rs. 48,000 Suppose, you have invested 1.5 lakhs in above mentioned instruments You can avail tax benefit of Rs 48,000 u/s 80CCD(1B) Investments in Life Insurance, PPF, ELSS etc. Your contribution to NPS(10% of Salary) Investment of up to Rs 50,000 in NPS
- 8. Confidential. NSDL e-Gov Internal use only Link - https://enps.nsdl.com/eNPS/ Completely Online – Aadhaar based and PAN based with eSign feature Instant PRAN generation & contribution on the go Open PRAN - eNPS
- 9. Confidential. NSDL e-Gov Internal use only Investment Option 9 Multiple PFMs – Select any one PFM Selection Scheme Choice Active Choice - Subscriber decides Asset Allocation Auto Choice - Based on Life-stage investing Changes in PFM & Scheme choices are allowed
- 10. Confidential. NSDL e-Gov Internal use only 10 Options at the age of 60 Continuation of NPS Account Deferment Premature - At least 10 years under NPS In the event of death of subscriber Exit Process Exit from NPS Process
- 11. Confidential. NSDL e-Gov Internal use only 11 Features Saving for Day to Day Need Anytime Withdrawal/ No Exit Load No Minimum Balance Nor Additional AMC Separate Investment Option Transfer Fund to Pension Account How Active Tier I Activation Through - Nodal Office - POP - eNPS Tier II Account (Investment Account)
- 12. Confidential. NSDL e-Gov Internal use only Scheme wise return Available at NPS Trust Website http://www.npstrust.org.in/return-of-nps-scheme 12
- 13. Confidential. NSDL e-Gov Internal use only Subscriber servicing Instant Reset of Password Helpline for Registered Subscriber 1800 222 080 Regular Alerts Online Grievance Resolution Website & FAQ NPS Mobile App Online account management Transaction Statement ePRAN
- 14. Confidential. NSDL e-Gov Internal use only Benefits of NPS Benefits Of NPS Simple Flexible Portable Strong Regulation Tax Savings Transparent Structure 14
- 15. Confidential. NSDL e-Gov Internal use only Tel: 022-24994200 Helpline-:1800 222 080 www.npscra.nsdl.co.in facebook.com/nps.NSDL NSDL-NPS ki Pathshala
- 16. Confidential. NSDL e-Gov Internal use only Exit from NPS If the total corpus is Rs 50 lakhs At the age of 60 40% as Pension 60% as Lumpsum Rs. 30 Lacs can be withdrawn as lumpsum Rs. 20 Lacs will be utilized for getting pension
- 17. Confidential. NSDL e-Gov Internal use only Annuity Service Providers 17 Indicative Chart of LIC 11229 15370 100% Annuity to Spouse with RoP Annuity payable for Life Indicative pension amount per month (in Rs) With purchase price of 20 lakhs at 60 years Option A Option B
- 18. Confidential. NSDL e-Gov Internal use only NPS Mobile App - maintained by NSDL eGov 18 Manage Your NPS Account on the go
- 19. Confidential. NSDL e-Gov Internal use only CRA website - www.npscra.nsdl.co.in
- 20. Confidential. NSDL e-Gov Internal use only How to raise the Grievance/query Login Grievance/Inquiry
- 21. Confidential. NSDL e-Gov Internal use only Choice of PFMs For Government Sector Additional PFMs for Non-Government Sector
Editor's Notes
- Instruction: Spend not more than 3 mins on this slide do not talk about NPS as a product in this slide. To Ask; if crowd is in decent number How many are NPS subscribers? How many Govt. Subs? How many came to know through alerts (sms/email)? How many came to know through News Paper Ad? If the crowd is in small numbers then create a small cluster group and go through their concerns and run only important topics of PPT. Modify the pitch and tenor of the presentation based on the crowd mix. To tell about; Who we are (one liner as we have to talk NSDL credentials in next slide) Why are we conducting this session/ objectives of conducting SAP Also tell about previous visit/SAPs at the location Leaflet, question slip placed on seat Tell in brief, how the session will be conducted in next 1 and half hrs Tell about the scope of the session (policy level matters are outside the scope of this forum)
- Instruction: don’t spend more than 20 sec in this slide Speak about; Confidence on NSDL; India’s first and largest depository (No. of Demat a/c holders) Tell about Different important projects we are handling like PAN (quote numbers), Aadhaar (quote numbers) CRA for NPS, which we are going to discuss now Tell, a. we have a legacy of more than 20 years b. Strong Brand presence
- Instruction: don’t spend more than 20 sec in this slide Speak about; Confidence on NSDL; India’s first and largest depository (No. of Demat a/c holders) Tell about Different important projects we are handling like PAN (quote numbers), Aadhaar (quote numbers) CRA for NPS, which we are going to discuss now Tell, a. we have a legacy of more than 20 years b. Strong Brand presence
- Instruction: Don’t speak much about stakeholders, just give a brief introduction Speak about unbundled architecture NPS works on an unbundled architecture wherein different entities come under one umbrella to operationalize NPS system. Each entity is given the responsibility based on their core competence. Each entity has limited access to data, based on the responsibility it performs Under the architecture, each and every entity who is part of the system, is governed by Service level agreement with PFRDA. Speak about Importance of CRA CRA is a repository of data, forms and KYC documents CRA provides the operational platform connecting all the entities Support system for all the stakeholders
- Instruction: We have to place this as how NPS is different. We have to say here that account opening has been extended to 65. However, who joined before 60, for exit will be at 60 only. Those who joined after 60, can enjoy the benefits till 70. Explain Unique & Portability of PRAN. Cite examples of Inter sector Shifting scenarios. The NPS provides the subscriber with an option to have two types of accounts, one is pension or Tier I account and second is Investment account ie Tier II. We will discuss about Investment account in details in subsequent slide. NPS also provides, option to withdraw from pension account in case of emergencies. Withdrawal will be allowed maximum three times after 3 years in NPS. NPS provides to continue the account even after the age of 60. Subscriber can decide to continue or exit from NPS. In case of exit, a portion of the holding needs to utilize to purchase annuity from empaneled ASP. The rest can be withdrawn in lump sum. We will discuss in detail in subsequent slide that how a subscriber will get pension.. Explain Tax benefit in Detail: The contribution made in the scheme (NPS Tier I) qualifies for deduction u/s 80C . Apart from this, an additional deduction for the investment up to Rs. 50,000 in NPS (Tier I account) has been exclusively available for NPS under subsection 80CCD (1B). This is over and above the deduction of Rs. 1.5 lakh available under sec 80C. No tax incidence in case of change of PFM or asset classes contrary to mutual fund wherein tax will be levied even you switch schemes within the AMC.
- This slide shows that how a employed subscriber can take benefit of mandatory contribution to NPS up to Rs 50,000, if the benefits under 80CCE is already utilised. Here, we have to add that Non-Government subscriber can save 20% of gross income up to 2 lakhs (combindly) under NPS.
- Instruction: If required, We can show the PFM list, given as hyperlink (Eight PFMs-select any one). We will not go in detail about asset classes as well as the different flavours of Auto Choice. In this slide, we have to explain: Who will invest your money What are the investment choices (not for Gov. subscriber, so, don’t stress if crowd mix is inclined to Gov. sector.) Active choice: You can decide by own that where (in which asset classes) your money will get invested Auto Choice: In Auto choice investment will be based on Life-stage investing, wherein your money will automatically shifted from equities to debt on closer to the age of 60. How will a subscriber exercise the investment options All are established Fund houses, Explain the power of liberty to choose your own PFM We will say this is not, as of now, available for Government subscriber. However, they can exercise this option for Investment account, which we shall discuss later. Subscriber can change PFM once and investment choice twice in FY. Emphasize that, There is no tax implication when you switch PFM as well as asset classes in NPS.
- In this slide, we have to explain the options available at the age of 60 or at the time of retirement. We have to reiterate that options at the age of 60 are available only to those who joined before 60. Those who joined after 60 can enjoy the benefit till 70. Option 1: if you want to contribute and remain invested in NPS you can choose the first option. Option 2 : if you want to defer the decision of annuity purchase / lumpsum withdrawal, you can exercise the option 2. आप इस option द्वारा पेंशन शुरू कर किश्तों में भी अपना lumpsum amount निकल सकते है. Option 3: In case, you want to exit from NPS and start your pension, please choose option no. 3. To explain the exit process please click on given hyperlink (process). Explain in brief about exit before 60 and death cases, once back from slide of exit process.
- Instruction: This the only slide where we have to talk about Tier II and place it as investment account. We have to speak that till now we have discussed about pension account and now we will see the benefits of Investment account ie Tier II account. Please note: Emphasis will be on the word Investment account We will say that whenever you have extra cash flow, you can put this in Tier II Mention the flexible usage of money from the account, you can withdraw at any point of time, transfer to pension account You can utilize the saving in children's Marriage / Education, etc emphasize that subscriber can utilize the funds whenever it is needed Pitch why it is smarter to park excess amount in Tier II account instead in Bank as the interest rates are going down No tax incidence in case of change of PFM or asset classes contrary to mutual fund wherein tax will be levied even you switch schemes within the AMC. Also brief how to open this Investment account.
- We will say, for Govt. subscribers, their colleagues who are not part of NPS are getting around 8% in GPF and you can see the returns of NPS. The government schemes have less than 10% in equity still have generated around 10% return. We may go to the “Stakeholder of NPS” slide to have a feel that we have discussed the same NPS trust earlier. (entire image is kept as hyperlink, you can come back to this slide by clicking NPS trust image)
- Instruction: We have to spend good amount of time to explain the tools and to boast about NSDL-CRA. All the icons except three are hyperlink. We have to click them and explain the same. Explain in detail, various tools of subscriber servicing and initiatives taken by the NSDL-CRA. ePRAN- click on icon and tell how and from where it can be downloaded. Tell, if your PRAN card is misplaced, you can print and laminate it to use as PRAN card. Instant reset of password- click on icon and explain the process to generate the password. Online Services: No hyperlink, just to speak that certain services (like Scheme preference change, Tier II withdrawal, Mobile number/ email ID update) you can do online. Dedicated CRA helpline: No hyperlink. Tell, subscriber can speak to the customer care executive to the avail various services including request for resetting the T-PIN, Transaction Statement to the registered email ID. Regular alerts: No Hyperlink, speak about regular alerts, quarterly balance, SMS to update the new functionality etc. Transaction statement: Click on Hyperlink, and explain how it looks like, explain about investment summary and XIRR. You can download it through your account log-in, NSDL-CRA also sends monthly transaction statement to you email ID. Online Grievance Resolution: click on hyperlink, and explain, to register your grievance, you can visit our website (www.npscra.nsdl.co.in) and, at subscriber corner, there is a menu called “log your Grievance”. You can log your grievance there with or without having PRAN details. For those who are having PRAN details, Other mode of lodging grievance are log-in to your account, CRA helpline, through Mobile App etc. a unique token number will be provided to track the grievance and alert will go the respective entity to resolve. CRA will act as an interface between subscriber and the entity against whom the grievance has been logged. The respective entity will resolve the grievance and update the status. In case grievance is against CRA, we will resolve the same. Website and FAQs: You can visit our website to get information related to NPS/sector wise FAQs. If you are not finding the answer of your query, you can always raise the same through above link. NPS Mobile App. Click on hyperlink, Speak about advantages of downloading the mobile app. You can invest, manage your NPS account on the go. eNPS website: Speak, this is the online platform of NPS, where you can register, contribute, activate Tier II. Don’t stretch much if POP-SP is present there.
- This is to summarize the benefits and important features of NPS
- Instruction: Please go through the slide. Explain 100% annuity can be taken. Don’t discuss tax aspect, we will discuss this only when someone ask.
- We have to tell, subscriber will get options to choose the scheme to start the pension. Like, when you are visiting Policy bazar website to search insurance policy, you are getting multiple options to choose from. We have given here the indicative amount of most popular scheme of LIC (this is just for illustration purpose). We have to link this to the previous slide where we have given the example of total corpus of Rs 50 lakhs and annuity purchase of Rs 20 lakhs. Talk about, how the annuity rates are fared with Bank rate; The Bank rate have changed in the last 10 years Longevity covered by ASP in pension plan as you can’t open FD for more than 10 yrs and here ASP is covering the life span of more than 30-40 yrs
- Have some title having NSDL