New Delhi: In what is predicted to convey aid to lakhs of Pensioners, the Pension Fund Regulatory and Development Authority (PFRDA) may permit them to withdraw their entire lifetime contribution to NPS with a higher threshold.
An IANS report, quoting sources within the authorities stated National Pension System (NPS) may be ready to withdraw their entire cash at one go if pension corpus is upto Rs 5 lakh. At current, there’s a threshold of Rs 2 lakh upto which a NPS subscriber can withdraw the entire cash. Beyond this restrict, presently solely 60 per cent of pension corpus might be withdrawn whereas 40 per cent of the contributions has to be mandatorily parked in authorities accredited annuities.
Who can open National Pension System (NPS) Account?
Any particular person citizen of India (each resident and Non-resident) within the age group of 18-65 years (as on the date of submission of NPS software) can be a part of NPS. Although, opening a number of NPS accounts for a person just isn’t allowed underneath NPS, an Individual can have one account in NPS and one other account in Atal Pension Yojna.
Any particular person citizen of India (each resident and Non-resident) within the age group of 18-65 years (as on the date of submission of NPS software) can be a part of NPS. But, do not be confused with joint account.
National Pension System account can be opened solely in particular person capability and can’t be opened or operated collectively or for and on behalf of HUF.Â
#mute
