SAVE TAX THROUGH NPS

The New Pension Scheme (NPS) has so far not seen too many takers after the government opened the scheme to the public in 2009. However, the investment scenario will most likely change in favour of NPS once the proposals under thelatest Direct Taxes Code (DTC) are implemented.
This is because the DTC has proposed to include NPS in the list of investments that are eligible for tax deduction under Section 80C. These developments make NPS an interesting investment avenue. This week, ET Intelligence Group brings you all that you would want to know about NPS. We will also discuss in length about the various schemes available under NPS and their performance.
NPS is a defined contribution scheme wherein an individual can open a tier I account and invest a regular sum of money till retirement. Professional fund managers manage funds invested under the scheme. At the time of retirement, investors can avail as a lump-sum a maximum of 60% of the total pension wealth generated by NPS over the years.
NPS now open to all citizens between 18-55 years