Changes in the NPS

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

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