NPS Tier 1 — Mandatory NPS account with lock-in. Tier 1 is the primary NPS account with lock-in until age 60.

NPS Tier 1 — Mandatory NPS account with lock-in | Glossary

Definition

What is NPS Tier 1?

Tier 1 is the primary NPS account with lock-in until age 60. At maturity, 60% of corpus is withdrawn tax-free; 40% must buy an annuity. Offers extra ₹50,000 deduction under 80CCD(1B) beyond 80C. Can choose Active (you pick asset split) or Auto (age-based glide path).