Ya sure I will let you know about New Pension System started by Union Bank Of India so that you can check it easily.

The New Pension System was started to promote old age income security to all citizens of India including workers of the unorganized sector which was introduced by Pension Fund Regulatory and Development Authority.

New Pension System has two types of accounts.

1. Tier-I account: Individuals can contribute their savings for retirement into this non-withdrawal account.

2. Tier II account: Under this saving facility, individuals are free to withdraw their savings whenever they require.

Tax benefits
Available as per as per Income Tax Act 1961 amended from time to time

Other facilities
1. Account can be transferred from one POP to another

2. Provision for Change in subscriber details, investment scheme, fund manager etc.

3. Printed statement available.

Minimum Annual Contribution Requirements under NPS:
The following table provides the complete information on the minimum contribution requirements:
S. No. Tier I Tier II
1 Minimum Contribution at the time of account opening Rs. 500 Rs. 1000
2 Minimum amount per contribution Rs. 500 Rs. 250
3 Minimum total contribution in the year Rs. 6000 Rs. 2000
4 Minimum frequency of contributions 1 per year 1 per year


Address:-
Union Bank Of India
Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400 021, Maharashtra, India

Phone:-
022-22892000