Paytm, founded in August 2010, an Indian e-commerce payment system with more than 5 million users to date, has now added National Pension System (NPS) as one the features for people to secure retirement corpus & tax benefits post-retirement.
India has more than 50% of its population below the age of 25 and more than 65% below the age of 35. As a result, the company took this initiative for the well-being of productive age group people in, order to secure their future, in the nation.
Pension Fund Regulatory and Development Authority pfrda.org.in has approved Paytm for this plan.
NPS Patym Money objective
The National Pension System is a voluntary defined contribution pension system in our country. In 2009, NPS launched the ”All Citizen Model” to allow any individual to enroll in NPS. Paytm Money aims to increase the number of investors in this Paytm scheme by the easy and digital way as only 13 lakhs investors have enrolled for the scheme to date.
Calculate your NPS at National Pension System Trust
Paytm will be offering NPS with the choice to invest in Tier 1 (Tax Saver scheme) and Tier 2 (Zero Lock-in Period scheme) wherein investors can enroll for both the tier accounts.
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“NPS, as an offering, also incentivises users to save additional taxes and hence, complements the wide range of existing tax-saver mutual funds on Paytm’s platform,”Amit Nayyar, President (Financial Services) at Paytm, said regarding tax benefits from Paytm Money