NPS (National Pension Scheme) is one of the cheapest products available for retirement planning. As per experts, investors pay just around Rs.30-90/lakh every year in NPS, as opposed to around 2-2.5% expense fees which are generally charged by actively managed mutual funds. Moreover, the minimum annual contribution required to open an NPS Tier-1 is Rs.500, while the minimum annual amount to be deposited in a Tier-1 account is Rs.1,000.
