2. What is the architecture of NPS? Who are the different entities involved?

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1 1. What is National Pension System? The National Pension System (NPS) is a new voluntary contributory pension scheme introduced by the Central Government through Pension Fund Regulatory and Development Authority (PFRDA) to promote old age income security. It is a defined contribution pension system which is being offered on a voluntary basis to all citizens of India other than government employees covered by NPS. PFRDA has also introduced Corporate National Pension System model (under existing All Citizen of India Model (i.e. commonly known as UOS NPS model )) where-in the Corporate can get itself register under the System with CRA through the recognized POP. As per the Corporate NPS model the Corporate is free to offer the NPS system to all or select employees (i.e. based on certain criteria - above a certain grade). Under the Corporate NPS model, the Corporate can transfer Employee s contribution (i.e. deduction from employee s salary) to Employee s NPS Tier I account and it also has an option to contribute over and above the employee s NPS contribution amount. Under the NPS, individuals can open a personal retirement account with the government through PFRDA and can set aside and save a pension corpus during their work life to meet financial needs after retirement. These contributions earn returns depending on the investment option selected by the individual. NPS a c c ou n t i s a u n i q u e a c c o u n t. O n e c annot h a v e m o r e than 1 N P S a c c o u n t. At the time of withdrawal, the subscribers have to invest a portion of their accumulated pension wealth under the NPS to purchase a life annuity from an IRDA regulated life insurance company and the balance may be withdrawn in lumpsum. The amount and the time period after which withdrawals can be made are subject to certain conditions (as explained in FAQs). To view the NPS offer document visit 2. What is the architecture of NPS? Who are the different entities involved? Following are the Intermediaries in the NPS system: Pension Fund Regulatory and Development Authority(PFRDA) Central Record-keeping Agency (CRA) National Securities Depository Limited (NSDL) has been appointed as the CRA for NPS by PFRDA. Pension Funds (PFs)/Pension Fund Managers (PFM) Annuity Service Provider (ASP) Trust & Trustee Bank (TB) Point of Presence (PoP) Custodian Description of the above entities :

2 Pension Fund Regulatory and Development Authority (PFRDA) PFRDA is the regulator for the NPS. PFRDA is responsible for registration of various intermediaries in the system such as Central Record Keeping Agency (CRA), Pension Funds, Custodians, NPS Trustee Bank, etc. PFRDA shall also monitor the performance of the various intermediaries and ensure that all stakeholders comply with the guidelines/regulations issued by PFRDA from time to time. Central Record-keeping Agency (CRA) The record-keeping, administration and customer service functions for all subscribers of the National Pension System will be centralized and performed by the CRA. The CRA shall, on the basis of instructions received from subscribers, transmit such instructions to the appointed Pension Funds on a regular basis. The CRA will also provide periodic, consolidated PRAN statements to each subscriber. Currently National Securities Depository Ltd (NSDL) is CRA. Pension Funds (PFs)/Pension Fund Managers (PFMs) Appointed PFs are responsible for managing the retirement savings of subscribers under the NPS. The PFRDA has appointed a limited number of leading professional firms to act as PFMs. Subscribers contribution is given to these PFMs for further investment. The PFMs are required to invest strictly in accordance with the guidelines issued by the government / PFRDA. PFMs would communicate the NAV of each scheme to CRA on a regular basis. NPS allows you to choose from any one manage your pension fund: 1. ICICI Prudential Pension Funds Management Co. Limited 2. HDFC Pension Management Company Limited 3. Kotak Mahindra Pension Fund Limited 4. LIC Pension Fund Ltd 5. Reliance Capital Pension Fund Limited 6. SBI Pension Fund Pvt. Limited 7. UTI Retirement Solutions Limited 8. Birla Sun life Pension Management Limited of the following 8 entities as PF to Annuity Service Provider (ASP)

3 ASPs are responsible for delivering a regular monthly pension to the subscriber if subscriber has purchased annuity scheme either before attending age of 60 years (subject to lock-in period of 10 years) or attending the normal retirement age of 60 years or on attending superannuation after attaining the normal retirement age of 60 years. PFRDA has empanelled the following seven IRDA approved life insurance companies for providing annuity services to the subscribers of National Pension System (NPS). 1. Life Insurance Corporation of India 2. SBI Life Insurance Co. Ltd. 3. ICICI Prudential Life Insurance Co. Ltd. 4. Star Union Dai-ichi Life Insurance Co. Ltd. 5. HDFC Standard Life Insurance Co. Ltd. PFRDA / CRA is in process of finalizing the operational guidelines for annuity,. NPS subscriber can then annuitize the withdrawal amount through Annuity Service Provider as selected by subscriber either on attaining the 60 years of age or before attaining the age of 60 years subject to 10 years of lock-in. Trust & Trustee Bank (TB) The Trust established under the NPS, is responsible for taking care of the funds under the NPS and is the registered owner of all NPS assets. The trust holds an account with as the NPS Trustee Bank, i.e Axis Bank. NPS Trustee Bank facilitates fund transfers across various entities of NPS system viz. PFM, Annuity Service Providers, subscriber, etc. The NPS Trust is being administered by the Board of Trustees, as constituted by the PFRDA. Point of Presence (PoP) PoP is the first point of interaction between the voluntary subscriber and the NPS architecture. The PoP is responsible for performing functions relating to registration of subscribers, undertaking Know Your Customer (KYC) verification, receiving contributions and instructions from subscribers and transmission of the same to designated NPS intermediaries. Custodian The Custodian is responsible for the custody of underlying assets. Custodian is a SEBI registered Custodial Services providing fulfilling condition on foreign holdings and cross holdings as Government may prescribe. Current custodian is Stock Holding Corporation of India (SHCIL) Please note that the addition or deletion of intermediaries like PFM, POP and ASP is a continuous process. The latest list of PFMs, POPs and ASPs are available on PFRDA website Who can invest in NPS?

4 Any Indian citizen between the age of 18 to 60 years can invest in NPS. However, persons having an existing NPS account and government employees who are already covered under NPS cannot again open an additional account under NPS. Note : As per regulatory guidelines HUF, PIO and OCI cannot invest in NPS. 4. Can an NRI open an NPS account? Yes. An NRI can open an NPS account if the NRI has a bank account with a bank based in India and his communication address is an Indian address. Contributions made by NRI are subject to regulatory requirements as prescribed by RBI and FEMA from time to time. Note: 1) Presently, I- Sec is not offering the NPS product to N o n Resident Indians. 2) RBI vide its circular No. RBI/ /216 A.P. (DIR Series) Circular No.24 dated the October 29, 2015 has stated that eligible NRI customer may open / subscribe to NPS account (under PFRDA regulations) by making contributions through normal banking channel. The subscription amounts shall be paid by the NRIs either by inward remittance through normal banking channels or out of funds held in their NRE/FCNR/NRO account. RBI has further stated in the said circular that there shall be no restriction on repatriation of the annuity/ accumulated savings. 5. What if my citizenship status changes after I open a permanent retirement account under NPS? NPS is available only to citizens of India. If the subscriber's citizenship status changes, his/her NPS account would be closed. In case your status changes from RI to NRI then NPS account has to be shifted to NPS-UOS offline model by submitting duly filled Sector shifting form: ISS-1. Documents to be submitted along with form 1. Self-attested PRAN card copy 2. Cancelled cheque of his NRO account 3. Self-attested copy of 1st & last page of passport Original and signature to be verified by I-Sec official. Request you to visit our nearest I-Sec branch for the same For further investment in NPS, client will have to submit NCIS form, self-attested PRAN card copy, and cheque of NRO account (Third party cheque not accepted) for contribution. Cheque should be in name of ICICI Securities Limited NPS Pool Duly filled form & documents to be sent at below mentioned address

5 ICICI Securities Ltd, NPS Operations Dept, Shree Sawan Knowledge Park, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai You can avail the form by following below mentioned path (i) Customer service Overview---Important Information--- Download forms NPS Or (ii) Login in I-Direct account Trade & Invest---NPS---Holding & Services---Forms 6. How do I invest in NPS? To invest in NPS, you will be required to open an account with a Point of Presence (POP) and obtain a Permanent Retirement Account Number (PRAN). This is the unique identification number given to your NPS account. ICICI Securities Limited (I-Sec) is registered as a Point of Presence (POP) with the PFRDA for offering services pertaining to opening and operation of NPS accounts. Once opened NPS account with ICICIdirect.com, you can invest in NPS either through lump sum contribution or Systematic Investment Plan (SIP) Path : Login in I-direct account---trade & invest NPS Transact Place contribution/sip 7. What are the benefits of investing in the NPS? You may benefit from investing in NPS in the following manner: 1. It is voluntary: You can choose the amount (subject to the minimum annual contribution amount from second financial year after opening of the NPS account) you want to set aside and save every year 2. It is simple: All you have to do is to open an account with any one of the POP and get a PRAN 3. It is flexible: You can choose your own investment option and Pension fund Manager and see your money grow 4. It is portable: You can operate your account from anywhere in the country, even if you change your city, job or pension fund manager 5. It is regulated: NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and performance review of fund managers by NPS trust

6 8. What are the different types of NPS accounts? NPS accounts are of two types: Tier I account: It is a mandatory account for those who have opted for NPS. Under this account you could start investing with amount as low as Rs. 500 as first contribution with minimum of Rs in a financial year.. You could avail tax benefits on your own investment up to Rs. 2,00,000 under section 80C & 80 CCD(1B). Normal withdrawal is on attainment of 60 yrs of age. Though, partial withdrawal after 10 yrs of investment is allowed as per the existing guidelines. To withdraw from your Tier I account before 60 years of age, you would be required to invest at least 80% of your pension wealth to purchase a life annuity (subject to eligibility age criteria (if any) for buying an annuity policy from annuity service providers) from any IRDA - regulated life insurance company. You may withdraw the remaining 20% of your pension wealth as a lump sum. (It is allowed to subscriber who have been in NPS for at least 10 years). Note: The Exit & Withdrawal from NPS Tier I account is governed by PFRDA (Exit & Withdrawals under National Pension System) Regulations, Please refer to the FAQ section below on exit and withdrawal procedure from National Pension System. Tax Benefits : Below mentioned table will give you clear understanding of tax benefits associated with investment in NPS Section Section Maximum deduction under relevant section Cumulative maximum deduction u/s 80CCE Section 80C Deduction towards various contribution or payments (like Life insurance Premium, annuity, PF, subscription to equity shares or debentures, NSC, ULIP, Fixed Deposits, Mutual Funds, Housing Loan Repayment etc) Rs. 150,000 Section 80CCC Deductions towards Pension Fund Rs. 150,000 Rs. 150,000 Section 80CCD(1) Contribution towards NPS (Tier 1 account) Employed: 10% of Basic Salary Self-employed person : 20% of Gross total income Section 80CCD(1B) Section 80CCD(2) Contribution by any individual to NPS (Tier 1 account) Rs. 50,000 Not Applicable Employer's contribution towards NPS (Tier 1 account) 10% of Basic Salary Not Applicable

7 - Also, 40% of pension wealth withdrawn as lump sum from NPS tier 1 account on attaining 60 yrs of age is tax-exempt. - Partial withdrawal (not exceeding 25% of own contribution for subscriber who has been in NPS for at least 10 yrs) made in accordance with the terms and conditions specified under Pension Fund Regulatory and Development Authority Act and regulations is tax-exempt *Tax structure is subject to change as per Income tax laws. Tier II account: To open this account, you should have an active Tier I account. This is a voluntary savings facility. There are no restrictions on withdrawal from tier 2 account. However there are no tax benefits available on investments in Tier II account. Note: Government employees are allowed to open standalone NPS Tier II account with any registered POP. Currently, ICICI Securities is not offering it. 9. If I have invested in any other Provident Fund, can I still invest in NPS? Yes. Investment in NPS is independent of your contribution to any Provident Fund. 10. I have invested in pension funds of non government / private entities. Can I still invest in NPS? Yes. Investment in NPS is independent of your pension fund. subscription to any other 11. Can I invest in NPS through ICICI Securities limited? Yes. ICICI Securities Limited (I-Sec) is registered as a Point of Presence (POP) with the PFRDA for offering services pertaining to opening and operation of NPS accounts. 12. How can I apply for the Tier I and Tier II NPS accounts through You can open an online Tier I and Tier II account by logging in into your trading / investment account and visiting the "Subscribe NPS" link on the NPS page. Path : Login Trade & Invest NPS Transact Subscribe NPS

8 There is a facility available on the for register either for Tier I, Tier II (provided Tier I is active) and opening of Consolidated Tier I and Tier II account at the time of opening NPS account. While registering for the NPS, the minimum subscription amount criteria should be met for the each type of NPS Tier account. 13. How will I know my PRAN? After your NPS / Permanent Retirement Account (PRA) is opened, CRA shall intimate you about your PRAN. I-Sec would also you the PRAN allotment letter. You will also receive a Telephone Password (TPIN) and Internet Password (IPIN) directly from CRA. The TPIN can be used to access your NPS account on the call centre number of CRA ( ). While your IPIN can be used to access your account on CRA website ( on a 24 x 7 basis. 14. Will I get a PRAN Card when I open an NPS account through No. If you are opening an NPS account by making an online application on you will be provided PRAN allotment letter by I-Sec and not the PRAN Card. You will have to apply for the PRAN card by submitting Subscriber registration form & necessary KYC documents in hard copy/ physical form by next month else CRA shall marked your NPS account as Dormant (i.e. deactivate) as obtaining of the PRAN card fro m CRA is the mandatory condition imposed by PFRDA. In case, your NPS account is marked dormant by CRA in that scenario you shall submit the physical Subscriber Registration Form along with requisite KYC documents to ICICI Securities Limited for onward submitting the same to CRA for issuance of PRAN card. 15. Is PRAN card Mandatory? Based on the recent guidelines issued by PFRDA, PRAN Card has been made mandatory. If you have not applied for the PRAN Card by the end of the next month of the PRAN generation, then CRA shall deactivate such accounts. In such an event you will not be able to place any contribution in your NPS accounts or place any service request (other than applying for PRAN card), till the accounts are reactivated (through submission of PRAN Card application) 16. Is there any charges for reactivation after issuance of PRAN card?

9 Currently CRA is not charging any fee on reactivation of NPS accounts on issuance of the PRAN card. 17. What is the process for applying for a physical PRAN Card when I open an NPS account through Or What is the process for re - activation of the PRAN marked as deactive due to PRAN non - issuance? For applying for the PRAN card you will have to visit the NPS section and click on " Place Service Request" under services section and take the print out of pre-filled form, affix recent colour photograph and have to sign wherever applicable within the highlighted box (in BLACK ink). Path: Login Trade & Invest NPS Holdings & Services Place Service Request Request for PRAN card The duly filled form has to be forwarded to the following address: ICICI Securities Ltd Sales Operations Dept Shree Sawan Knowledge Park, First Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai How will I know about the status of the PRAN Card application form? The status of the PRAN Card can be checked from the CRA site. You may check My Message on ICICIdirect account to know the status if the form was rejected due to any discrepancies or successfully sent to CRA for further process. Path : Login Customer Service ---My Message In case the form was rejected due to any discrepancy, you are requested to resend the form. 19. How will I know about the status of my PRAN Number? You can track the status of your application by logging in to your account and visiting the "Subscribe NPS" link on the NPS page. In case your application has been successfully processed, your PRAN will be displayed under the above link. In case your application form is rejected by CRA for any reason, the status will be updated on My Message. Further, I-Sec shall also refund to you, your

10 contribution money together with processing fees and taxes deducted upfront. 20. How can I make contributions into the NPS account through And how will I get tax receipt/statement for investment in Tier 1 account? To make a contribution to your NPS account, you need to follow below mentioned path : Login to ICICIdirect.com--- Trade & Invest - NPS Transact--- Place Contribution or Systematic Investment Plan. In case you are required to allocate funds then you can allocate funds by following below mentioned path Login to ICICIdirect.com--- Trade & Invest -Allocate Funds --- Add amount under Mutual Fund, Corporate Bonds, ICICIdirect Centre for Financial Learning, IPO, Tax, Insurance, Credit Score, NPS & Others section You will receive NPS tax receipt from ICICIdirect.com in your registered -id within T+3 working days on contribution. You can also download tax statement by following below mentioned path Login to ICICIdirect.com Trade & Invest NPS Holding & Services Tax Statement 21. Are there any conditions for making contributions to the NPS account? Yes. PFRDA has specified the minimum annual contribution a m o u nt that is to be made in a financial year (applicable from second financial year of subscription of NPS) for each type of NPS account. Further, you are required to make your first contribution at the time of applying for registration with a Point of Presence (POP). Additionally, the following conditions apply for each of the below accounts. Tier I: Minimum amount per contribution - Rs. 500/- Minimum contribution per financial year - Rs. 1,000/ Minimum number of contributions 1 per year Tier II: Minimum amount at the time of account opening - Rs. 1,000/- Minimum Amount per contribution - Rs. 250/- Note: The minimum annual contribution amount and minimum number of contribution towards NPS Tier I and NPS Tier II account at the end of financial year is made applicable by PFRDA from second financial year.

11 You may decide on the frequency of your payments during the year as per your convenience. Further, you may also contribute the entire minimum contribution amount as detailed above at the time of registration itself. 22. Can I make contributions to my NPS accounts through the Payment gateway facility on Yes. You can place contribution through Payment gateway from your registered bank account other than ICICI bank. Path : Login Trade & Invest Mutual Fund Add bank account 23. Will the government also contribute anything to my NPS account? No. The Government will not be making any contribution to your NPS account. 24. What will happen if I do not make the minimum contribution during any financial year? It is advisable that you make the stipulated contribution on a regular basis in your NPS account. In case of a default, your account will be deactivated. To activate your account you would need to start the contribution again. 25. Is there any maximum age limit for making further contribution to NPS Tier I Account? Yes. You can make contribution in your NPS accounts till you have not completed the age of 60 years. In case you wish to contribute up to attainment of 70 yrs of age, then you need to initiate the process on CRA s website. Printout of the duly filled form on CRA s website/ Screenshot copy of acknowledgement no., request letter, & self-attested PRAN card copy to be sent at below mentioned address ICICI Securities Ltd NPS Operations Dept Shree Sawan Knowledge Park, First Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai Note : After attainment of 60 yrs of age further contribution on request is possible through offline mode. You are requested to send duly filled NCIS form, cheque in favour of ICICI Securities Ltd. NPS Pool & self-attested PRAN card copy at the above mentioned address. (Third party cheque is not accepted)

12 Path to avail form : ICICIdirect website Customer Service---Download forms---nps NPS Contribution Instruction Slip 26. Can I transfer my savings amount from NPS Tier II account to NPS Tier I account or vice versa? Yes, you can transfer funds from Tier II to Tier 1 account. There are 2 ways 1. By submitting duly filled UOS-S13 form & self-attested PRAN card copy at below mentioned address ICICI Securities Ltd NPS Operations Dept Shree Sawan Knowledge Park, First Floor, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai Path to avail form : ICICIdirect website Customer service Download forms NPS Subscriber request for one way switch from Tier II to Tier 1 2. Redeem funds from Tier II account. On receipt of the funds in linked ICICI bank account, place contribution or SIP in Tier I account. Path to redeem Tier II funds : Login Trade & Invest NPS Holdings Unit holdings Tier 2---Redeem 27. Are there any charges for making investments in NPS? Yes. PFRDA has prescribed charges for various services related to the NPS account. The same are listed as follows: Intermediary Method of Service Charge Head Charges * Deduction Permanent Retirement Account (PRA) Opening Charges Rs. 40 Through CRA Annual PRA Cancellation of maintenance cost units per account Rs. 95 Charge per transaction Rs POP(maximum Rs % of permissible Initial Subscriber contribution (minimum of To be collected charge for each registration & Rs. 20 and maximum of Rs. upfront subscriber) contribution upload 25,000)

13 Subsequent Transaction (Regular 0.25% of contribution Subscriber's (minimum of Rs. 20 and contribution) maximum of Rs. 25,000) Service Request Charges** Rs. 20 Trustee Bank, Custodian, NPS Trust, and PFM shall charge prescribed fees in addition to the above by way of adjustment in the Net Asset Value (NAV). Also, persistency charge would be applicable to NPS-All Citizen Model as per conditions stated in PFRDA circular dated October 31, 2017 (Clarification on Revision of Service Charges to POPs under NPS-All Citizen & Corporate Model) *GST as applicable will be levied as per existing laws in addition to the above charges. ** These include 1. Change in subscriber details 2. Change of investment scheme/ fund manager 3. Processing of withdrawal request 4. Processing of request for subscriber shifting 5. Issuance of printed account statements 6. Any other subscriber services as may be prescribed by PFRDA The fee structure may change as may be decided by the PFRDA/ NPS Trust from time to time. 28. How do I pay the charges applicable to my NPS transactions? The charges applicable on your NPS transactions and GST amount payable thereon shall be deducted from your allocated amount and the balance amount will be invested in your NPS account. Please login to your trading / investment account and refer NPS Service Charges link for further details. 29. How do I select the Pension Fund Manager for my NPS savings? You are required to specify your Pension Fund Manager (PFM) at the time of applying for NPS registration. You will be required to indicate your preferred PFM out of the 7 PFM identified by PFRDA. 30. Can I select more than one PFM to manage my savings?

14 No. You can select only one PFM. Note : You can select same or different PFM for Tier I and Tier II accounts 31. What is the meaning of Investment Choice? Investment Choice refers to the feature by which the subscriber specifies the manner in which his contribution is to be invested. The contributions made by you towards the NPS account shall be invested by the Pension Fund Manager based on the asset class allocation given by you, and the value of the pension corpus shall be totally based on the NAV of the schemes. The NAV of each scheme of the Pension Fund Manager shall be available on the CRA website, and the link for the same shall be available on too 32. What are the various investment choices available in NPS? The following two investment choices are available in NPS: (I) Active Choice - Individual Funds (Asset class E, Asset class C, Asset class G & Asset class A) (II) Auto Choice Life Cycle fund (Aggressive, Moderate (Default) & Conservative) In Active choice, you have the option to actively decide as to how your NPS contribution is to be invested in the following asset classes: Sr. Asset Class No 1. Asset Class E (Maximum allocation up to 50% of investment) 2. Asset Class C (Maximum allocation up to 100% of investment) 3. Asset Class G (Maximum allocation up to 100% of investment) 4. Asset Class A (Maximum allocation up to 5% of investment): Only for Tier 1 account. Incase selected for Tier 2 then it will be considered as investment under Asset class C by CRA-NSDL. Investment in Tier 2 Asset Class A would be transferred to Tier 2 Asset Class C by CRA-NSDL effect from May 22, 2017 Particulars Investments in predominantly equity market instruments Investments in fixed income instruments other than Government securities Investments in Government securities Investment in Commercial or Residential mortgage based securities, Units issued by Real Estate and/or Infrastructure Investment Trusts and/or Asset backed securities as regulated by SEBI, Alternative investment funds (AIF category I & II) registered with SEBI The overall asset class allocation under the 'Active Choice' option should be equal to 100%.

15 In Auto choice, you have choice to select any 1 of the below mentioned option for your NPS investment. Sr. Life Cycle No A. Aggressive Life Cycle fund (LC-75) B. Moderate Life Cycle fund (LC-50)-Default C. Conservative Life Cycle fund (LC-25) Particulars Maximum investment in equity is restricted to 75% Maximum investment in equity is restricted to 50% Maximum investment in equity is restricted to 25% Asset class wise distribution at different ages for different Life Cycle fund A) Aggressive Life Cycle fund Age ( in yrs) Asset Class E Asset Class C Asset Class G up to 35 75% 10% 15% 36 71% 11% 18% 37 67% 12% 21% 38 63% 13% 24% 39 59% 14% 27% 40 55% 15% 30% 41 51% 16% 33% 42 47% 17% 36% 43 43% 18% 39% 44 39% 19% 42% 45 35% 20% 45% 46 32% 20% 48% 47 29% 20% 51% 48 26% 20% 54% 49 23% 20% 57% 50 20% 20% 60% 51 19% 18% 63% 52 18% 16% 66% 53 17% 14% 69% 54 16% 12% 72% 55 15% 10% 75% B) Moderate Life Cycle fund (Default scheme under Auto option) Age ( in yrs) Asset Class E Asset Class C Asset Class G up to 35 50% 30% 20% 36 48% 29% 23%

16 37 46% 28% 26% 38 44% 27% 29% 39 42% 26% 32% 40 40% 25% 35% 41 38% 24% 38% 42 36% 23% 41% 43 34% 22% 44% 44 32% 21% 47% 45 30% 20% 50% 46 28% 19% 53% 47 26% 18% 56% 48 24% 17% 59% 49 22% 16% 62% 50 20% 15% 65% 51 18% 14% 68% 52 16% 13% 71% 53 14% 12% 74% 54 12% 11% 77% 55 10% 10% 80% C) Conservative Life Cycle fund Age ( in yrs) Asset Class E Asset Class C Asset Class G up to 35 25% 45% 30% 36 24% 43% 33% 37 23% 41% 36% 38 22% 39% 39% 39 21% 37% 42% 40 20% 35% 45% 41 19% 33% 48% 42 18% 31% 51% 43 17% 29% 54% 44 16% 27% 57% 45 15% 25% 60% 46 14% 23% 63% 47 13% 21% 66% 48 12% 19% 69% 49 11% 17% 72% 50 10% 15% 75% 51 9% 13% 78% 52 8% 11% 81% 53 7% 9% 84% 54 6% 7% 87%

17 55 5% 5% 90% Please refer PFRDA circular for further details 33. Can I select both investment choices when investing in NPS? No, you can select either Active Choice or Auto Choice as your option when making investments under NPS. You may select same or different investment choice for Tier 1 & Tier 2 account. 34. Can I change my investment choice? Yes, you can change your Investment Option [Active or Auto] any time subject to maximum once in a financial year. Note : Scheme preference change can be exercised once in a FY. i.e. (Investment Choice and/or PFM and/or allocation can be changed all in 1 go or any combination just once in FY) 35. What rate of return will my contributions earn? Your contributions will not earn any specified rate of return. The PFM will invest your savings in a scheme of your choice. Remember that your investment allocation is one of the most important factors affecting the growth of your pension wealth. The rate of return earned by your contribution depends on the return provided by the asset classes you choose to invest in viz equity instruments, fixed income instruments, government securities. Kindly refer the NPS offer document for details on the risks associated with your investments. You can also visit below mentioned site to view performance of various PFM for different schemes Can I register for NPS without indicating any investment option? No. You will not be able to register for NPS, unless you have indicated your Investment choice.

18 Further, incase you have selected the Active choice option but if you have not indicated the percentage allocation of your pension wealth across the 3 asset classes or it does not aggregate to a total of 100%, you will not be able to submit your online NPS registration application 37. What is meant by Life Cycle fund in the Auto Choice option? NPS offers an easy investment option, called "Auto Choice", to assist those customers who do not have the required knowledge to manage their NPS investments. Under this Option, the investments will be made in a life cycle fund whereby the allocation across various assets will be defined as per your age and will be readjusted as you grow older. Please refer the offer document for details refer "Auto choice - life cycle fund section". 38. What is the meaning of asset reallocation in the Auto Choice investment option? If you have opted for Auto Choice, the reallocation of your pension money among the different asset classes shall take place on your date of birth. All subsequent investments in your NPS account shall be made as per such revised asset class allocation as stated in the Lifecycle Fund grid (as defined by PFRDA). 39. Can I change the Pension Fund Manager for my pension savings? Yes, you can change your Pension Fund Manager any time subject to once in a financial year. Note : Scheme preference change can be exercised once in a FY. i.e. (Investment Choice and/or PFM and/or allocation can be changed all in 1 go or any combination just once in FY) 40. Can I have a different Pension Fund Manager and Investment Option for my Tier I and Tier II account? Yes. You may select different PFMs and Investment Options for your NPS Tier I and Tier II accounts. 41. Where can I view my unit holdings held in the NPS Tier I and II account? You can view your unit holdings by logging on (CRA site) using the IPIN provided by CRA. You can also view the details of the "Unit Holdings" on NPS page (SOT) of your trading / investment account.

19 42. Will I receive a transaction statement on allotment of units in my NPS account? Yes. An annual statement containing details of your unit holdings will be issued by CRA to your registered address within 3 months of the end of every financial year. 43. Are there any conditions / formalities to be completed for withdrawing/deferring money from my NPS Tier I account and/or stay invested in NPS? NPS account holders will have to comply with the regulations stated in PFRDA (exit & Withdrawals under the National Pension system) Regulations, As per the said Regulations, the NPS account holder has an option to exit & withdraw from National Pension System under the following scenarios viz. i) On attending 60 years of age or on attending superannuation age and ii) at any time before attending the age of 60 years. Following are the conditions stipulated by PFRDA for withdrawing funds from the NPS Tier I account: Vesting Criteria Benefit At any point in time Compulsory Annuitisation- minimum 80% before 60 yrs of age Lump sum withdrawal- maximum 20% (only if subscriber has If Corpus< Rs Lac,then complete withdrawal been in NPS for at least 10 yrs On attaining age of 60 years and up to 70 years of age -Annuitisation- minimum 40% - Lump sum withdrawal- maximum 60% -If Corpus< Rs Lac, then complete withdrawal - Subscriber can stay invested/contribute in the NPS up to the age of 70 years - Can defer the withdrawal of eligible lump sum amount till the age of 70 years. -Annuity purchase can also be deferred for maximum period of 3 years at the time of exit. Death of the subscriber due to any cause Request you to go through the below mentioned links for more details. In such an unfortunate event, option will be available to the nominee to receive 100% of the NPS pension wealth in lump sum. However, if the nominee wishes to continue with the NPS, he/she shall have to subscribe to NPS individually after following due KYC procedure. Process for Deferment/Stay Invested: (At least 30 days before attainment of 60 yrs of age) 1. Login to CRA system

20 2. Click on the Initiate Deferment menu and Transaction Type for New Request. 3. You will have the option to opt for Deferred Lump-sum and/or Deferred Annuity. You are requested to tick the checkboxes provided for Deferred Lumpsum and/or Deferred Annuity. Further, you need to provide your mobile number. In this scenario you will not be able to contribute further in NPS. 4. You will also have the option to continue contribution in deferment period. For this, you need to tick the checkbox for I want to contribute in Deferment period. 5. If you opt for contribution in deferment period, then by default Deferred Lump-sum and Deferred Annuity will be ticked. 6. You will be provided acknowledgment number on successful submission of request. 7. Request letter along with screen shot/copy of the acknowledgement number to be sent at below mentioned address ICICI Securities Ltd, NPS Operations Dept, Shree Sawan Knowledge Park, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai Note : For further contribution you are requested to adopt offline service Duly filled NCIS form, cheque in favour of ICICI Securities Ltd. NPS Pool, self-attested PRAN card copy to be sent at the address mentioned above. (Third party cheque will be rejected) NCIS form is available on ICICIdirect website Path : ICICIdirect website Customer Service---Important Information ---Download forms ---NPS---NPS Contribution Instruction Slip Process for Normal Withdrawal (Attainment of 60 yrs of age): (Initiate process at least 30 days prior to attainment of 60 yrs of age) 1. Login in CRA site and fill up online withdrawal form. 2. Take the printout. 3. Affix latest color photograph and sign across the photograph 4. Pre-signed receipt (signature across on Re.1 Revenue stamp) acknowledging the receipt of proceed. 5. Signature needs to be done in front of I-Sec official. I-Sec official needs to declare it on the form by putting stamp & signing on the withdrawal form as stated in the form 6. Subscriber also have to obtain signature of the Authorised Signatory and affixation of Corporate Rubber stamp on the withdrawal form (if applicable) 7. Witness signature as mentioned in the form is also required. (Use of black ink only on the form) Documents to be submitted along with the form are mentioned below: 1. Original PRAN card 2. Cancelled cheque (as per the bank details filled up in withdrawal form)

21 3. Self attested age proof (as per details in withdrawal form)- Original & Signature Verification by ICICI Securities official is required 4. Self-attested address proof (as per details in withdrawal form)- Original & Signature Verification by ICICI Securities official is required 5. Self-attested identity proof (as per details in withdrawal form)- Original & Signature Verification by ICICI Securities official is required Duly filled form & documents to be sent at below mentioned address ICICI Securities Ltd, NPS Operations Dept, Shree Sawan Knowledge Park, Plot No. D-507, T.Ts Ind Area, M.I.D.C, Turbhe, Opp. Juinagar Railway Station, Navi Mumbai What will happen to my savings if I decide to retire before age 60? To withdraw from your Tier I account before 60 years of age, you would be required to invest at least 80% of your pension wealth to purchase a life annuity (subject to fulfillment of eligibility age criteria (if any) from any IRDA - regulated life insurance company. You may withdraw the remaining 20% of your pension wealth as a lump sum. (Note: Premature withdrawal only if subscriber has been in NPS for at least 10 yrs) Partial Withdrawal :Up to 25% of own contribution for Marriage or Higher education of children or purchase of house/flat or for prescribed illness (subject to certain conditions) if subscriber has been in NPS for at least 10 yrs) 45. Who are the Annuity Service Providers(ASP) for NPS accounts? Pension Fund Regulatory and Development Authority (PFRDA) has empanelled the following 5 IRDAI approved life insurance companies for providing annuity services to the subscribers of National Pension System (NPS). 1. Life Insurance Corporation of India 2. SBI Life Insurance Co. Ltd. 3. ICICI Prudential Life Insurance Co. Ltd. 4. Star Union Dai-ichi Life Insurance Co. Ltd. 5. HDFC Standard Life Insurance Co. Ltd. Please click on below link to know more about respective ASP contact person, address, -id and contact details

22 NPS subscribers have a choice of selecting the Annuity Service Providers, from whom they can choose their annuity schemes on their exit from NPS on attainment of 60 years of age (where-in at least 40% of the accumulate amount of NPS Tier I account should be annuitised) or they can opt for the same before attaining 60 years of age (where-in at least 80% of the accumulate amount of NPS Tier I account should be annuitised). Annuity Service Providers are in process of floating the annuity schemes and CRA shall be issuing the operational guidelines for the same. 46. Can I register a SIP request for making investment in my NPS account? How will the SIP request work? Yes. I-Sec offers you a facility to place a SIP request for making periodical investment in your NPS account on How can I register a SIP request for my NPS investment? To place a SIP request, you will have to login to your trading/ investment account and select the SIP option displayed on the NPS page under Transact section Here you will be required to specify the following details: a. Start Date: This is the date on which you want your SIP to start and your contribution to be given to CRA. (Remember - Your SIP Start Date cannot be the date prior to the date of your NPS registration) b. Amount: The amount you wish to invest in each SIP (The minimum amount to register an NPS SIP in Tier 1 account is Rs. 500/- & Tier 2 is Rs. 250/-) c. Frequency: The frequency at which you want the SIP investments to be made in your NPS account (Choose between options - Monthly/Bi-Monthly( once in two months)/quarterly If you choose the Bi-Monthly option, after your first investment on the start date, no investment will be made in the subsequent month. The next SIP date will be in the month following such subsequent month. Hence, there will always be a gap of a month between the SIP dates. In Bi-Monthly option, your order is triggered 6 times in a year. For instance: If you have selected the SIP (Bi-Monthly) option and your start date is January 5, 2011, your first order will be triggered on the selected date viz January 5, 2011 and your next SIP order will be triggered in March (not February) on the calculated date.

23 d. Period: Indicate the period during which you would want the periodical NPS contributions to be placed. The maximum period you can select is 300 months. Once you have clicked on the final confirmation, the details of the SIP request would be displayed on the SIP Book page. Please note that if a SIP trigger is on the 31st and the month has only of 30 days, the contribution request will be processed on the next business day after the 30th. 48. Can I cancel my SIP request? What is the process for canceling my SIP request? Yes. You can cancel the SIP request anytime. To cancel your SIP request, you will have to visit the "SIP order book" page and select cancel option. 49. Can I modify my SIP request? What is the process for modifying the request? You will not be able to modify a registered SIP request. However, you can cancel the said SIP request and place a new SIP request as per the modified parameters. 50. I have forgotten to allocate enough funds for my NPS SIP order on the SIP date. Is my order liable to be rejected? It is advisable that you allocate sufficient funds under the "MF, IPO, Insurance, NPS and others" section in your trading account towards your NPS SIP orders. In case you have not allocated the required amount, I-Sec will place the order only after checking that sufficient clear funds are available in your linked bank account. In case clear funds in your linked bank account are not sufficient to place your NPS SIP order, the entire NPS SIP order would fail. Please note that NPS SIP order will not be placed for partial amount/quantity. In case sufficient balance is not available in your account, your entire order will fail. 51. Can I appoint nominees for the NPS Tier I & II Account? Yes. You have to appoint minimum 1 and maximum up to 3 nominees for your NPS Tier I & II account. You are required to specify the percentage of your saving that you wish to allocate to each nominee. The share percentage across all nominees should collectively aggregate to 100%.

24 Note : 1. Please refer PFRDA guidelines on whom you can nominate to your NPS accounts and when the subscribers are required to register fresh nominee ( click here - to know more). 2. Same or Different Nominee(s) with same or different share% for NPS Tier I & NPS Tier II allowed. 3. NPS account Holders can change nominee(s) at any time by submitting duly filled UOS-S2 form-subscriber detail change form along with self-attested PRAN card Form is made available by following below mentioned path Trade & Invest---NPS---Services--Place service request--- select Tier I/Tier II account- Change Nominee request 52. What is the process for making a nomination on The process of nomination has been included in the registration process on At the time of applying for registration on the system will ask you to choose the option for making a nomination. The online NPS registration process on comprises of 4 steps. In the first step, you will be asked whether you wish to make a nomination. If you select the option "Yes", you will be required to provide the details of your nominee such as Name, Date of Birth, your relationship with the nominee and the percentage allocation of your accumulated pension savings that you wish the nominee should acquire. In case you are appointing a minor as your nominee, you will be required to specify the details of the guardian also. 53. I have not made any nomination at the time of registration. Can I nominate subsequently? What is the process? If you have not made the nomination to your NPS account at the time of registration, you can do the same after the allotment of PRAN. You will have to visit the "Place Service Request" link on the NPS page under Services section of your account & download the physical form UOS-S2 (Request for Change / Correction in Subscriber Master Details and / or Re-issue of IPIN/TPIN/PRAN Card) and submit the same to ICICI Securities Limited at the under mentioned address: ICICI Securities Ltd. NPS Operations Department Shree Sawan Knowledge Park Plot No. D-507,T.T.C.Ind.Area

25 MIDC, Navi Mumbai Can I change the Nominees for my NPS Accounts? Yes. You can change the nominees in your NPS Tier I account at any time after you have received your PRAN. To change your nomination, visit the 'Place service requests' link on NPS page of your trading / investment account. 55. Are there any charges for making a nomination? If you are making the nomination at the time of registering for PRAN, no charges will be levied to you. However, a subsequent request for nomination updation would be considered as a service request and you will be charged an amount of Rs. 20/- plus applicable GST for each request. 56. What is the transmission process to be followed by a nominee in case of death of the NPS account holder? In case of the death of the NPS account holder, the nominee(s) may opt to receive 100% of the NPS pension wealth of the deceased NPS account holder in lump sum or they may opt for buying annuity from the Annuity Service Provider. In case the NPS account holder has not register nominees in his NPS account in that scenario the legal heirs of the NPS account holder will have to obtain legal heir certificate and they shall also have an option to receive 100% of the NPS pension wealth of the deceased NPS account holder in lump sum or they may opt for buying annuity from the Annuity Service Provider. The nominee(s) or legal heir(s), as the case may be, will have to fill-in Form 303 (in BLACK INK) and has to submit along with the under mentioned documents to POP: 1. Original Death certificate of NPS account holder (Subscriber). 2. ORIGINAL copy of PRAN card and if the same is not available then the subscriber has to submit the notarised Affidavit for non submission of PRAN card by the claimant (format as stated by CRA-Nsdl) 3. Incase of No Nominee: Certified photocopy of family member's certificate issued by Executive Magistrate. 4. Legal Heir Certificate (if applicable).

26 5. Cancelled Cheque or Bank Certificate of the claimant/s and Nominee(s). 6. Pre-signed receipt (signature across on Re.1 Revenue stamp) acknowledging the receipt of proceed. Kindly note each nominee/legal heir has to pre-sign the receipt. 7. Self certified photo copy of additional Proof of Identity document (PAN card, Aadhaar, Passport etc) and Proof of Address (PAN card, Aadhaar, Passport etc). (Refer instruction 4 of the said form). The nominee(s) / Legal heirs have to visit the nearest office of ICICI Securities Limited and will have to sign in front of the official and will also have to show the original documents to the official for verification. Note: If the subscriber belongs to Corporate NPS Model then the subscriber shall also have to obtain signature of the Authorised Signatory and affixation of Corporate Rubber stamp. 57. What is the transmission process in case of death of NPS account holder who has not selected a nominee? It is advisable that the NPS subscribers register their nominee(s) in their NPS accounts. PFRDA has came out exit and withdrawal regulations which shall govern the exit and withdrawal options from National Pension System. The legal heir(s)/nominee(s) has an an option to receive 100% of the NPS pension wealth of the deceased NPS account holder in lump sum or they may opt for buying annuity from the Annuity Service Provider. The nominee(s) or legal heir(s), as the case may be, will have to fill-in Form 303 (in BLACK INK) and has to submit along with the under mentioned documents to POP: 1. Original Death certificate of NPS account holder (Subscriber). 2. ORIGINAL copy of PRAN card and if the same is not available then the subscriber has to submit the notarised Affidavit for non submission of PRAN card by the claimant (format as stated by CRA-Nsdl) 3. Incase of No Nominee: Certified photocopy of family member's certificate issued by Executive Magistrate. 4. Legal Heir Certificate (if applicable). 5. Cancelled Cheque or Bank Certificate of the claimant/s and Nominee(s). 6. Pre-signed receipt (signature across on Re.1 Revenue stamp) acknowledging the receipt of proceed. Kindly note each nominee/legal heir has to pre-sign the receipt. 7. Self certified photo copy of additional Proof of Identity document (PAN card, Aadhaar, Passport etc) and Proof of Address (PAN card, Aadhaar, Passport etc). (Refer instruction 4 of the said form).