Non Resident Indians have been allowed to open accounts under National Pension System (NPS). By opening NPS account, NRI's can create pension corpus in India. NRI between 19 to 60 years can open this NPS account. The account needs to be opened by NRI as power of attorney is not allowed.
NPS Subscriber registration form for NRIs needs to be filled. The form can be downloaded through online. It is available at any POP-SP. Both overseas address and contact details along with permanent Indian address should be provided. NRI's also have the option of selecting the Pension Fund Manager.
The following documents must be submitted for opeing the NPS account, 1. The registration form 2. Passport copy 3. Address proof. The contributions made to NPS account by NRI's can be from NRE or NRO accounts which are subjected to foreign exchange conversion norms.
After submission of documents, the NRI can check the status by accessing https://cra-nsdl.com/CRA/ by using the 17 digit receipt number.
