As new NPS withdrawal rules come into effect, what has changed now? An explainer
As per the revised rules, up to 60% of NPS maturity amount can be withdrawn in instalments till the subscribers hit the age of 75.
Source: livemint.com
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As per the revised rules, up to 60% of NPS maturity amount can be withdrawn in instalments till the subscribers hit the age of 75.
According to the Handbook of NPS 2023, over 1,09,344 subscribers opted for annuity plans at the time of superannuation/exit since the launch of the National Pension System. Of them, 70 percent chose the Annuity for Life with Return of Purchase Price plan
Annuity means fixed sum of money paid to a subscriber at a set frequency for the rest of their life.
PFRDA and IRDAI has brought many changes for NPS subscribers and pensioners.