The National Pension System (NPS) operates on a two-tiered account structure under a singl...

NPS Account Types: Tier I vs Tier II – Key Differences, Benefits & Withdrawals

The National Pension System (NPS) operates on a two-tiered account structure under a single Permanent Retirement Account Number (PRAN). Regulated by the Pension Fund Regulatory and Development Authority (PFRDA), NPS offers subscribers the ability to build a locked-in, tax-efficient retirement corpus while simultaneously maintaining a flexible, liquid investment pool. Understanding the distinction between Tier I and Tier II accounts helps investors structure their short-term and long-term financial goals.

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