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Choose HDFC Pension as your NPS fund manager and retire with pride!
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Government National Pension System (NPS)
NPS was implemented for Central Government employees including employees working with Central Autonomous Bodies in 2004. Many State Governments and State Autonomous Bodies have also joined NPS since 2004. Employees joining the Central Government / Central Autonomous Body services effective 1st January 2004 are mandated to join NPS.
Contribution Under Govt. NPS:
The Unified Pension Scheme (UPS) is a pension scheme introduced by the Government of India, effective 1st April 2025, as an option under the National Pension System (NPS) for Central Government employees. It is designed to provide assured, inflation-indexed, and adequate retirement benefits, addressing concerns of longevity protection and pension predictability.
UPS operates within the existing NPS architecture regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and is applicable to both serving and retired employees under specific conditions.
Click here to know more about UPS
Maximize your retirement funds by making the right choice
Don’t settle for the status quo. Even the government recognized the need for better investment options for government employees and introduced the option to change the investment scheme.
While the default investment scheme under NPS provides a basic level of retirement savings, you can significantly enhance your retirement corpus by choosing a preferred Investment Scheme and Pension Fund Manager.
Enhanced Returns
Potentially higher returns compared to the default scheme
Expert Management
Experienced fund managers with a proven track record of delivering superior investment performance
Diverse Investment Options
Tailor your portfolio to your unique financial goals
Greater Control
Make informed decisions about your investments
A. Default Scheme: Funds are allocated amongst 3 PSU Pension Fund Managers (SBI, UTI & LIC).
B. Auto Choice: Subscriber needs to select one of the Life Cycle Funds. The asset allocation gets adjusted basis the age of subscriber.
Age wise Breakdown Age wise Breakdown Age wise Breakdown Age wise Breakdown
C. Active Choice: Employees who prefer investments with lower risk and volatility can transfer & invest their corpus entirely (100%) in Govt. Securities
Why HDFC Pension?
Strong Brand Legacy
Backed by a renowned organization – HDFC Life, we bring decades of experience and expertise to the table
Pension Fund of Choice
Most Preferred Pension Fund Manager for Govt. Employees moving out of default scheme
Subscriber First Approach
Strong PAN India Presence
Fastest Growing PFM
Trusted Fund Manager of more than 2.7 Million Indians
4 simple steps to change your fund manager
Follow these steps to get closer to your pension goals
Log-in to your NPS Account & click on Transaction
Click on sub menu ‘Scheme Preference Change’
Select 'Auto Choice' Scheme & further select LC Aggressive/ LC75 / LC50 / LC25 as per your preference
Under PFM, select HDFC Pension Fund Management Ltd. and click on Submit
Our team is here to help!
Complete rundown on all things NPS! Know how NPS works.
FAQs
The National Pension System (NPS) is a government-backed retirement savings scheme that helps individuals build a pension corpus. It offers market-linked returns, tax benefits, and flexible investment options, making it a cost-effective way to secure financial independence post-retirement.
Any citizen of India, resident or non-resident, can subscribe to the National Pension System (NPS). Applicants must be between 18-85 years of age. Subscribers must comply to standard KYC norms.
The National Pension System (NPS) offers a secure way to build a retirement corpus with market-linked returns, low costs, and tax benefits in old as well as new tax regime. It provides flexibility in choosing fund managers, asset allocation, and contributions. NPS is portable across jobs and locations, ensuring long-term financial security and regular guaranteed pension after retirement.
Yes, a subscriber is allowed to open a maximum of three PRANS. One PRAN each can be opened under the three CRAs-CAMS, Protean & Kfintech.
Tier I & Tier II are types of NPS accounts. The goal of the tier I NPS account is to create long-term retirement savings, it’s the primary and mandatory account. Tier II is an add-on pension account that offers better withdrawal benefits and immediate financial aid.
Tax Benefit on contribution under section 80 CCD(1): Claim a tax deduction on contributions up to ₹1.5 Lakh per year. This is available only under old tax regime
Tax benefit on voluntary contribution under section 80 CCD(1B): Get an additional deduction on voluntary contribution of upto ₹50,000. This is available only under old tax regime
Tax Benefit on contribution from salary under section 80 CCD(2): A benefit exclusively for salaried individuals where contributions are routed through the employer. This is available under both the old and new tax regime. Tax Deduction on overall contribution including upto 14% of basic salary under employer contribution and upto 10% of basic salary under employee contribution(max. limit of ₹ 7.5 Lakh).
The core structure remains intact, but flexibility has been enhanced, especially around continuation and withdrawals.
How this benefits you:
• More choice without diluting pension security
• Better alignment with post-retirement needs
At retirement or exit:
If corpus is greater than 12 Lakh
• Minimum 40% of corpus to annuity
• Up to 60% can be withdrawn as lump sum or through structured withdrawals
If corpus is below 8 Lakh
• 100% lump sum allowed
If corpus is between ₹8 lakh to ₹12 lakh
How this benefits you:
• Full withdrawal allowed for smaller corpus
• Larger corpus continues to provide lifelong pension security
SUR allows you to withdraw your NPS corpus gradually in units over time, instead of a one-time lump sum.
Benefit to you:
• Regular cash flow after retirement
• Reduced market timing risk
• Better tax and income planning
Yes. Government subscribers may continue NPS up to 85 years, with the option to defer withdrawal and annuity. The subscriber will have to shift the PRAN under UOS
How this benefits you:
• Flexibility to plan withdrawals gradually
• Better management of post-retirement income timing
• If corpus > ₹5 lakh: 20% lump sum & 80% annuity mandatory
• If corpus ≤ ₹5 lakh: 100% lump sum allowed
How this benefits you:
• Protects long-term pension interest
• Provides liquidity in case of early exit
How this benefits the family:
Yes.
• Up to 4 partial withdrawals before retirement
• Allowed even after 60, with a maximum of 3 times
• Limit: 25% of own contribution
How this benefits you:
• Access to funds for life events
• No need to exit NPS for short-term needs
