New Pension System (NPS) - Swavalamban Yojana

  • Madhya Bihar Gramin Bank has entered into an agreement with PFRDA (Pension Fund Regulatory and Development Authority) for functioning as one of the Aggregators for their New Pension System (NPS).
  • Our Bank has designated all Branches to function as Point of Presence- Service Providers (PoP-SPs) for handling NPS accounts.
  • NPS is a voluntary scheme of Pension System of PFRDA (Pension Fund Regulatory and Development Authority) open to all citizens in the age group of 18-60 years.
  • Subscriber will get Rs. 1000 per year from the Central Government to each NPS account opened (upto FY 2016-17).
  • The benefit of Central Government contribution will be available only to those subscribers whose contribution to NPS is minimum Rs. 1000/- and maximum Rs. 12000/- per annum.
  • Subscriber may contribute minimum contribution of Rs. 100/- per month under NPS.
  • Subscriber will get PRAN Card i.e. Permanent Retirement Account Number under NPS account.
  • We has finalized Alankit Assignments as a facilitator to provide software and other requirements to open NPS account.
  • Our more than 1300 BCs (Business Correspondents) centres have also been authorized to collect Registration Form & Subscription under NPS scheme.

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