Live Breaking News & Updates on Ps Withdrawal Entailsa Systematic Process Under The Existing Rules

New Delhi [India], April 27 (ANI/ATK): In February 2023, the Pension Fund Regulatory and Development Authority (PFRDA) issued a circular, mandating NPS subscribers to upload a few documents effective from April 1st, 2023. The pension body mentioned that uploading these documents would ensure timely annuity income payments. PFRDA currently administers and regulates the National Pension System (NPS), which provides a steady income stream to subscribers after their retirement. Furthermore, NPS withdrawal entails a systematic process. Under the existing rules, at the time of maturity, you must use a portion of the accumulated corpus - 40% to be exact - to purchase an annuity plan from an Annuity Service Provider (ASP). ASPs are approved by PFRDA, and offer numerous annuity options to provide a steady stream of income throughout your retirement years. The remaining 60% of the corpus can be withdrawn as a lump sum if it is less than or equal to Rs5 Lakhs. Exiting from Government and Corporat ....

New Delhi , Role Of Annuity Service Providers , Nodal Office , Annuity Service Provider , Pension Fund Regulatory , National Pension System , Development Authority , Annuity Service Providers , Annuity Service , Quick Distribution , New Delhi India , Pril 27 Ani Atk In February 2023 , He Pension Fund Regulatory And Development Authority Pfrda Issueda Circular , Andating Nps Subscribers To Uploada Few Documents Effective From April 1st , 023 The Pension Body Mentioned That Uploading These Documents Would Ensure Timely Annuity Income Payments Pfrda Currently Administers And Regulates National System Nps , Hich Providesa Steady Income Stream To Subscribers After Their Retirement Furthermore , Ps Withdrawal Entailsa Systematic Process Under The Existing Rules , T The Time Of Maturity , Ou Must Usea Portion Of The Accumulated Corpus 40 To Be Exact Purchase An Annuity Plan From Service Provider Asp Asps Are Approved By Pfrda , Nd Offer Numerous Annuity Options To Providea Steady Stream Of Income Throughout Your Retirement Years The Remaining 60 Corpus Can Be Withdrawn Asa Lump Sum If It Is Less Than Or Equal Rs5 Lakhs Exiting From Government And Corporate Nps Schemes Exit , Ou Can Withdraw From The Respective Pension Schemes Before Reaching Retirement Age In Case Of Government Nps , Overnment Employees Can Exit Once They Reach The Age Of 60 Years Or Earlier By Fulfilling Certain Conditions In Case Corporate Nps , He Employees Can Exit Upon Turning 60 Or Earlier , S Per The Applicable Exit Policy Role Of Annuity Service Providers Under National Pension System Nps , Annuity Service Providers , Uch As Lic And Sbi Life Insurance ,