The India Post is also a distributor of the New Pension Scheme. You can open an NPS account at designated post office branches. In fact, with very few agents interested in selling the low-cost scheme because of the niggardly commission it offers, the post office has become the biggest seller of the NPS. It has opened almost 20,000 voluntary accounts till now, which is almost a third of the total voluntary Tier I NPS. The scheme is available at nearly 800 post office branches across the country. Incidentally, the India Post has stopped selling mutual funds after the entry load was removed in August 2009. Says Prasad: "If Sebi brings the upfront selling commission of 2.25% back, we would sign a memorandum of understanding to sell mutual funds again."
