Author name: PolicyAdvisor

Your monthly pension or annuity income depends on the size of your retirement corpus. Naturally, the bigger the corpus, the […]

Annuity service providers offer a variety of generic annuities and their variants of combinations thereof. The annuity options for monthly

NPS Annuity service providers licensed by the IRDA(Insurance Regulatory and Development Authority) and empaneled by the PFRDA to offer annuity

Your withdrawal claim will be processed normally, after deducting a penalty for unfreezing the account. You may seek to reactivate

Once you register with the NPS, you receive a PRAN – Permanent Retirement Account Numberalong with a PRAN Kit containing

To withdraw from NPS, you must submit the following documents with your withdrawal forms to seek claim settlement. • Original

Subscribers can withdraw a maximum of three times during the tenure of their NPS subscription.At least 5 years must have

Yes,subscribers can make partial withdrawals of up to 25% under NPS provided they have held the account for at least

When you are 60 years old, that is normal retirement age or NRA, you must annuitize (buy annuities for) 40%

On the subscriber’s unexpected death, 100% of the accumulated pension is paid to the nominee or legal heir of the

In this case, at least 80% of your accumulated pension must be used to buy annuities, with the balance being

You must use at least 40% of your accumulated pension to buy annuities. The balance can be received as a

Yes. Employed individuals are eligible for a tax deduction of up to 10% of salary (basic + DA) under Sec

Yes. Nominees in your NPS Tier I account can be changed whenever you want after you receive your PRAN. Nominations

Only individuals are eligible to be nominees. An NPS subscriber can nominate up to three nominees. Nominee details cannot be

Yes, a nominee must be appointed at the time of account opening with the NPS via the prescribed form. You

There are two subscriber investment schemes by the NPS: Active choice where the individual can decide on which asset classes

The NPS has eight pension fund managers. These are: ICICI Prudential Pension Fund, LIC Pension Fund, Kotak Mahindra Pension Fund,

NPS manages funds via Pension Fund Managers registered with the PFRDA according to the investment guidelines laid down by the

Yes, Each subscriber must make a minimum annual contribution of Rs.6000/- to his Tier I account during the financial year.