Reading your NPS transaction statement

Reading your NPS transaction statement

​What is NPS?
The National Pension System (NPS) is a government scheme that allows subscribers to create a retirement corpus. Government as well as non-government employees are allowed to be NPS subscribers.

Subscriber details
The first section holds subscriber details such as personal details, contact details, nominee details and the subscriber’s nodal office details. It also captures status of both the NPS accounts (Tier 1 and Tier 2)—whether active or inactive.

​Investment summary
This section gives a snapshot of the investment holding in NPS. It gives the total contribution made, total pension amount as on a particular date and return generated during that period. This section also mentions the scheme details with percentage of allocation to each Pension Fund Manager (PFM).

​Investment details
This section provides a breakup of the total investment PFM wise. It shows contribution, total unit credit, latest NAV and XIRR returns on the investment during the period.

Contribution details
In this section, the subscriber will get details of contributions and redemptions made during the particular period. This section specifically mentions the employer and employee contribution.

​Transaction details
The subscriber will find a summary of all transactions carried out during the period in this section. Transaction details are given PFM wise with details of contribution amount, NAV and units allocated.

Points to note
1. Transaction statement is the document that can be a proof of investment for seeking tax benefits applicable to NPS.
2. The statement also has a notes section, which explains the terms used in the statement.

Source:- economictimes