To boost the National Pension System (NPS) through easy access, brokerage firm ICICI Securities today launched the NPS facility on its portal.
"The online availability of NPA will give a big boost to pension product," Pension Fund Regulatory and Development Authority (PFRDA) Chairman Yogesh Agarwal told reporters here.
Anybody, above the age of 18, can take advantage of the pension system, which offers a basket of investment choices and fund managers.
The new pension system is based on defined contributions and is voluntary.
The facility is also offered on Systematic Investment Plan option as well as to track NAVs.
Currently, Tier I type of accounts can be opened on ICICIdirect.Com, with a minimum amount of Rs 6,000 annually.
"We are now looking forward to open Tier II account, which will also be like a savings account where money can be withdrawn when required unlike the usual where you can withdraw only after you are 60," ICICI Securities' Executive Director Anup Bagchi, said.