I am a government employee and NPS account is a must for us. Can I open another NPS account in addition to the one that is linked to my salary, as I don't have the freedom to increase equity exposure in NPS that is linked to my salary?
You cannot open more than one National Pension Scheme (NPS) account. NPS anyway doesn't allow you to deploy more than 50 per cent of the corpus in equity. So if you want to increase your equity exposure, you can consider investing in equity mutual fund schemes. If you are looking to claim a tax deduction under Section 80C of the Income Tax Act, you can consider investing in Equity Linked Savings Schemes (ELSSs). Investments in ELSSs qualify for a tax deduction of up to ₹1.5 lakh under Section 80C. If you have exhausted the Section 80C limit, you can consider investing in equity-oriented balanced schemes (if you are a novice to the stock market) or a diversified equity mutual fund scheme to build wealth over a long period.