The Pension Fund Regulatory and Development Authority (PFRDA) is working on alternatives to the mandatory annuity product that National Pension System (NPS) subscribers have to buy on exit. When exiting on maturity, NPS subscribers can withdraw up to 60% of the corpus but compulsorily need to buy an annuity plan with the remaining 40%. For premature exit after 10 years, 80% of the corpus needs to be annuitized.
Health, life insurance premiums need a tax cut? GoM to meet on October 19
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