Hello sir I want to know about Pension scheme in union bank of India so here can you please give me its details ?

Hey as per my idea new Pension scheme is launched in union bank of India and here I am giving you its details

New Pension System for post-retirement life.

The scheme which came to effect from May 1, 2009 allows investors to choose their asset allocation as well as their fund managers.

Facilities

Account can be transferred from one POP to another
Provision for Change in subscriber details, investment scheme, fund manager etc.
Printed statement available.
These services are available on payment of prescribed fee.

Account

Tier-I account: Individuals can contribute their savings for retirement into this non-withdrawal account.
Tier II account: Under this saving facility, individuals are free to withdraw their savings

Annual Contribution

A minimum annual contribution of Rs 6,000 in each subscriber account has been set by the PFRDA.
This is now allowed to be remitted in a single instalment, however in case of multiple instalments the minimum amount per instalment will be Rs 500/-.

Tax benefits

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