News From Press NPS pension payouts to become flexible

NPS pension payouts to become flexible

The pension regulator is working on alternatives to the mandatory annuity products that NPS subscribers have to buy from insurance companies

Mint Mar 2, 2020

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.

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