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Everything you want to know about NRI NPS accounts
Non-resident Indians have recently been allowed to open accounts under the National Pension System (NPS). By opening an NPS account, NRIs can create a pension corpus in India.


An NRI between 18 and 60 years of age can open an NPS account. The account needs to be opened by the individual NRI as power of attorney is not allowed.


NPS subscriber registration form for NRIs needs to be filled. This form can be downloaded and is available at any POP-SP. Overseas address and contact details as well as permanent Indian address need to be provided. NRIs have the option of selecting the Pension Fund Manager.


The following documents need to be submitted to the POP bank for opening the NPS account:

a) Completed subscriber registration form

b) Copy of passport

c) Proof of address, if the local address is different from the address in the passport.


The contributions made into the NPS account by the NRIs can be from either NRE or NRO accounts subject to normal foreign exchange conversion norms.


After submission of documents, the NRI can check the status by accessing by using the 17 digit receipt number provided by POP-SP or the acknowledgement number allotted by CRA-FC (Facilitation Centre) at the time of submission of application forms by POP-SP.


1) If the NRI has taxable income in India, he can get additional benefit of `50,000 offered by NPS over and above the 80C benefits.

2) It is preferable to open an NPS account through the POP bank where the NRI maintains his NRE/NRO account.

3) At the time of payment of pension or annuity, the same is paid only in INR. There is no restriction on repatriation.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
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