16 Jun 2021
The PFRDA through a gazette notification has introduced changes to the NPS scheme
✅ The maximum age of entry into the National Pension System (NPS) is 75 years instead of the current 65 years.
✅ The exit age limit has also been extended to 75 years
✅ Premature lump sum withdrawal limit under NPS increased to Rs 2.5 lakh from Rs 1 lakh
✅ In cases where the accumulated pension wealth of the subscriber is equal to or less than Rs 5 lakh (or a limit as specified by the Authority), the subscriber will have the option to withdraw the entire accumulated pension wealth without purchasing annuity