National Pension System or NPS is a Government approved scheme for Indian Citizens (including NRIs) age between 18-60 years. NPS is a Retirement Savings Scheme, launched by Pension Fund Regulatory and Development Authority (PFRDA) in 2004. It is designed to enable systematic savings during an individual working life. NPS is the cheapest retirement plan in the market among all other retirement plans such as EPF, PPF & Mutual Funds.
It is an easy process to open an account under NPS or you can apply through online in eNPS service. To open an account through eNPS you need your current active Mobile No. and Gmail Id, Bank Account Details, photo and Aadhar Card for identification.