National Pension Scheme – Live Your Dream Retirement Life!

Are you looking for a scheme that will take care of your financial needs after you retire?

If you are, then the National Pension Scheme by the Government of India is your answer!

One of the most popular ways of securing your retirement period is the National Pension Scheme. Let us understand everything about NPS and how Winsoft Technologies’ Smart NPS software can help financial product distributors (NPS POP) to deliver it to their customers.

What is National Pension Scheme a.k.a NPS?

The National Pension Scheme (NPS) is the government of India’s program that aims to grant retirement advantages to any or all Indian residents, together with those within the unorganized sector. NPS is a voluntary contribution program that is market-linked and managed by skilled fund managers. It is regulated and administered by the PFRDA or Pension Fund Regulatory and Development Authority under the PFRDA Act, 2013.

Individual subscribers’ contributions to the National Pensions Scheme are added until retirement, and the corpus grows through market-linked returns. It is an attempt towards a sustainable solution to the problem of providing adequate retirement income to every citizen of India

At least 40% of the contribution is used to acquire a lifetime pension via the purchase of an annuity at retirement. The remaining payments are paid in one lump sum to the subscriber.

Benefits of NPS

Every National Pension System (NPS) subscriber is assigned a Permanent Retirement Account Number (PRAN), which is unique for each. The Government of India has made the program secure and has offered several appealing perks to NPS account holders to encourage savings.

The Following Are Some Of The Advantages Of Having An NPS Account:

Carefully Regulated: NPS is regulated by Pension Fund Regulatory and Development Authority, with transparent investment norms & regular monitoring and performance review of fund managers by NPS Trust

No Compulsion: It is a voluntary scheme open to all Indian nationals. In your NPS account, you can pay any amount at any time.

Compliant To Your Needs: You have the freedom to choose or change your POP (Point of Presence), investing pattern, and fund manager. This allows you to optimize returns based on your comfort level with various asset classes (equity, corporate bonds, government securities, and alternative assets) and fund managers.

Fits Into Your Budget: NPS is one of the most cost-effective investment options accessible. The starting amount of investment is lesser than many investment schemes.

Portability:  One of the best features of an NPS account is even if you change your work, city, or state, your NPS account or PRAN will remain the same.

Switch To NPS: You can shift your superannuation funds to your NPS account without incurring any tax consequences. This is possible after receiving consent from the appropriate authorities.

Tax Benefits: Through NPS you can avail many tax benefits and exemptions.

How Can Winsoft’s Smart NPS Simplify The Process for POP?

Smart NPS is a product from Winsoft Technologies which is meant for NPS POP’s (Point of Presence i.e. NPS Distributors). It ensures ease in front-office and back-office operations automation for the National Pension Scheme product distribution and management. It not only ensures ease but also eliminates the tedious and time-consuming paperwork.

Just to give glimpse of Smart NPS capability:

  • Manages PRAN registration & generation processes
  • Covers Corporate registrations & Contributions
  • Manages online and offline requests of NPS Subscription & Contribution
  • Digital file generation for NSDL(National Securities Depository Limited ) & Fintech CRA
  • Consumable APIs available to Integrate with Third Party Application (Mobile Apps)
  • Business MIS & Regulatory Reports as required by PFRDA

Winsoft Technologies Has Redefined Financial Services!

Established in 1993, Winsoft Technologies has been offering unique technology-based products and services to the financial services industry. It focuses on niche sets of products including Wealth Management and Financial Product distribution solutions.

With 150+ specialists and 28 years of track record with esteemed customers, Winsoft Technologies is a trustworthy name in the industry.

It is creating a benchmark every day with its advanced products like the Smart NPS software. The combination of technical expertise with subject matter expertise in financial product distribution is what sets them apart. The company has a strong financial performance and has been moving forward in direction of growth and expansion.

Let Winsoft help you deliver and manage financial products with ease!

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