Our Story: The making of PensionBox
PensionBox is India’s first digital pension platform that empowers millions to plan their retirement digitally. Our users can easily create personalised pension plans within minutes to track their pension savings, contribute and withdraw pension online.
PensionBox has raised $160,000 from marquee angel investors Kishore Ganji, Sat Industries, KEYNOTE and Aprameya Radhakrishna. This funding story has been covered by leading media houses like, The Hindu, Mint, Your Story, ENTRACKR and many others.
PensionBox at its core aims to help every Indian save and track their retirement needs. Their vision is to improve the way Indians retire and solve a massive social problem that exists today and will only increase multifold in the years for every individual. As we have entered the digital era, it’s important to estimate our monetary needs and then automate it to work for you. This is where PensionBox comes into play and helps you plan your retirement with the right pension plan.
Pension planning is a neglected concept and one doesn’t begin to think about it early in their young days. It only hits them once they hit their early 50s. However, PensionBox aims to solve this problem by creating awareness around early pension planning for everyone. Our product is designed to track one’s funds and how they can be used more efficiently to plan a fulfilling retirement.
Starting in March 2021, PensionBox was founded when the Parashar brothers started planning for their parent’s retirement. They set out to look for options only to realise that there weren’t any platforms where one could track their pensions. So, they set out to solve a problem that millions of Indians are facing & half billion in the next 30 years.
Our app is all set to launch in the upcoming months until then you can visit our website to know more, PensionBox.
PensionBox simplifies the National Pension System(NPS), the government's pension scheme for private employees both for retail users and HRs/companies.
If you don’t have an NPS account, you can simply open your pension account within 2 minutes and if you have NPS PRAN already, you will be able track, invest and manage everything free of charge with best user experience.
We never touch or hold your money directly, your investments go safely to your chosen pension fund through approved channels.
We are built with Zerodha as POP , ensuring transparency, data security, and peace of mind. Your retirement savings are protected by regulation and secured by technology.
That’s why, PensionBox brings transparency, zero charges, timely support and freedom to select any pension fund so that you get the best experience investing in NPS & be better future ready.
That’s not it, we help you & your company together to maximise contribution and tax savings with minimal charges & best user experience.
If you are an existing zerodha user then you get a fast login or sign up using kite ID.
Once you are onboarded with kite ID, you get free access to
- Open NPS in 2 minutes
- Track existing NPS
- POP shift or CRA shifting
- Invest in one time or create SIP in NPS
- Withdraw NPS requests & instant withdraw tier 2
- Create your dream retirement plan
- Open NPS Vatsalya for your kid
- Share with HR (To unlock more tax benefits)
- Employer Contribution:
- Contributions made by your employer to your NPS account are tax-free up to 14% of your basic salary under Section 80CCD(2). Do connect us with your HR to enable this for you.
Tax Benefits in Old Tax Regime - Self-Contribution:
- Deduction up to ₹1.5 lakh under Section 80C.
- Additional deduction of ₹50,000 under Section 80CCD(1B) — exclusive to NPS investments!
- This allows you to claim a total deduction of up to ₹2 lakh every year on your NPS contributions.
- Employer Contribution:
- Contributions made by your employer to your NPS account are tax-free up to 10% of your basic salary (Basic + DA) under Section 80CCD(2). Do connect us with your HR to enable this for you.
- This is over and above your personal deduction limits, giving you extra tax efficiency.
Feel free to book a free call to learn more about NPS, NPS Vatsalya, Corporate NPS & PensionBox or contact the support team.
