PFRDA mulling option of parking 40% annuity at retirement with pension fund managers
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PFRDA mulling option of parking 40% annuity at retirement with pension fund managers
PTI / Apr 15, 2021, 23:05 IST
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NEW DELHI: Pension fund regulator PFRDA is mulling giving to its subscribers an option of parking 40 per cent of the corpus that is mandatory to purchase an annuity at the time of retirement with a pension fund manager to get better benefits.
As of now, subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis. They can take out the remaining 60 per cent as a lump sum.
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