M'loreans can avail benefits of NPS

 
Accrding to a press release, those interested can avail the benefits of the scheme through South Indian Bank, State Bank of Mysore, UTI Asset Management Company and CAMS. Central government employees as well as state government employees of 22 states including Karnataka are the members of the NPS.

While about Rs 2,100 crore has alreay been collected through the scheme, it has earned an annual income of 12.37 percent by September 30, 2009.  Those employees in private sector and self employed, between the age group of 18-55, can register their names under the scheme to avail all benefits which government employers were provided. Benefits of the scheme will be made available to members at the age of 60. 

Members must save atleast Rs 500 per month under the scheme. However, since there is no upper limit for saving, members can save as much as possible. The government will provide security to members for their savings uner the scheme, stated a press release from National Pension Fund Development Authority.