The NPS Private Model
Under this model, subscribers can be from both organized and unorganized sectors (including self-employed, traders and business owners). Even an NRI can subscribe to the NPS under this model. While the operational setup of the account is as good as in the corporate model, the private model also provides some additional facilities: (i) Choosing the annuity service provider (ASP): The subscriber can go to any of the seven existing
life insurance companies to purchase the annuity at the time of exiting from the NPS. (ii) The subscriber can change their existing pension funds (PFs), investment choices (active or auto choice) as well as the allocation ratio (allocation amongst any of the three asset classes) once in a financial year.