The National Pension System (NPS) managed by Pension Fund Regulatory & Development Authority (PFRDA) is a voluntary retirement scheme for individuals who want to generate a handsome pension post their retirement age of 60. The NPS offers three different types of exit options: premature exit/voluntary retirement, which allows subscribers to exit before age 60/superannuation, normal exit, which allows subscribers to exit at the age of 60 years or beyond /superannuation and exit upon unexpected death, which allows subscribers to exit before normal exit/60 years of age/superannuation.
