NPS for NRIs and OCI cardholders: eligibility and exit
The PFRDA All Citizen Model permits eligible Indian citizens, including NRIs, and OCI cardholders within the prescribed age range to subscribe to NPS after KYC. Contributions, investment choice, withdrawal and tax treatment require separate review.
Pension access is rule-based
Check citizenship or OCI status, age, KYC and bank support before opening. Then review exit and annuity rules rather than treating NPS like a normal mutual fund.
Key points
- Eligible individuals — PFRDA lists resident and non-resident Indian citizens and OCI cardholders.
- KYC required — The subscriber must complete prescribed identity and onboarding checks.
- Exit restrictions — Withdrawal and annuity rules apply to the pension account.
Questions before enrolment
Confirm the current age range, accepted payment route, Point of Presence or eNPS process and nomination details. Review asset allocation and pension-fund choices against the long-term goal.
Tax benefits and withdrawal taxation can differ between India and your residence country.
Keep the account current
Update address and residential status.
Maintain nomination and contact details.
Review exit rules before permanently leaving or returning to India.
Frequently asked questions
Can an OCI cardholder open NPS?
PFRDA's All Citizen Model lists eligible OCI cardholders, subject to age, KYC and other conditions.
Can an NRI open NPS for a family member?
NPS is an individual account and cannot simply be opened on behalf of another adult.
Is NPS the same as a mutual fund?
No. It is a regulated retirement account with specific contribution, withdrawal and annuity rules.