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NPS: Now You Can Invest In Pension Scheme Via Paytm Money
Paytm Money, the financial arm of the leading payments firm Paytm, said Tuesday that it has added NPS or National Pension Scheme on its platform after receiving requisite approvals from the Pension Fund Regulatory and Development Authority (PFRDA).
Further the company in a release said inclusion of the new investment avenue will help investors in saving for their retirement while also enjoying taxation benefits.
Using the app, users will have the option to invest in Tier I (tax saving scheme) as well as Tier 2 (schemes with zero lock-in period).
In its "All Citizen Model", NPS allows any citizen to subscribe for the pension scheme. As per the statement, under the model there are as many as 13 lakh investors currently.
"In a country like India with its huge young working population, retirement planning needs to be simplified. We want to bring NPS investing to millions of Indians and help them build a retirement corpus. It sits perfectly with our vision of democratising wealth management in India," Amit Nayyar, President (Financial Services) at Paytm, said in the statement.
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