Retirement Planning Questions

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.

An individual is eligible for only one NPS account.

Yes.NPS account can be operated from anywhere in India by its subscriber. The same account holds good whether the subscriber

Each subscriber is issued with a Permanent Retirement Account Number or PRAN card that has a unique 12-digit number. Loss

While opening an NPS account, the subscriber must submit the registration form duly filled along with proof of identity, proof

Yes. Subscribers can update their personal details in the records by submitting a change request form with a service fee

To subscribe to the NPS, subscribers pay service charges to the POP.  This includes an initial subscriber registration charge of

Points of Presence or POPs are the interaction points for NPS subscribers. Authorized POP branches or Point of Presence Service

The registration form is available on the POP’s website. It can be downloaded and completed, after which it can be