The government has taken steps in the interest of millions of people to change the rules of the National Pension System


NPS stands for National Pension System (National Pension System) Is a popular savings option in the country today. Launched on May 1, 2009 for employees working in the private sector or unorganized sector. Seeing its benefits, a total of 2 crore subscribers join it. In fact this is a pension saving scheme that provides financial security in the future. The question is whether NPS can plan for a monthly pension of Rs 60,000 in any way. Let me tell you that the government has changed a big rule attached to it.

Changed NPS rule

The National Pension System means that old NPS subscribers who have left before the stipulated time can rejoin. The PFRDA has given its permission. According to the existing rules, a subscriber can delete it before reaching the age of 60. An investment in NPS that is mature is converted into an 80 per cent regular pension. While the remaining 20 per cent can be removed in full. Now those who had withdrawn 20 per cent of the amount will have to deposit this amount if they want to rejoin the NPS. In addition, he can complete the withdrawal pension process by taking a regular pension. He can then open a new NPS account.

National Pension System

Changes in NPS Premature Exit Rules

PFRDA offers these subscribers an option National Pension System: The National Pension System (NPS) offers its subscribers an opportunity to retire through the Pension Fund at the lowest cost. These features of NPS include portability, flexibility, very easy means to distribute contributions, pension fund option, scheme priority, exclusive tax benefits etc.

What is PRAN, what will happen now

Under NPS, subscribers are given a Permanent Retirement Account Number (PRAN). Which is unique. Subscribers can have one active PRAN at a time and because of this they can empty a new account after closing their existing NPS account. Under the NPS, the subscriber can opt for premature exit or exit at the age of 60 or at any time after receiving superannuation as per the regulation.

national Pension System

In case of premature exit, up to 20% of the pension corpus deposited in PRAN can be withdrawn simultaneously and the balance will be used to purchase annuity plan with the annuity service provider proposed by PFRDA. There, the regulator said that nowadays PFRDA is getting a lot of requests from subscribers. He has withdrawn his amount but has not taken the annuity yet and these subscribers have since decided to make the NPS account public.

What to do for her

Open a new NPS account with a new PRAN, if it is appropriate to join the NPS. Continue with the same PRAN in NPS for which you have to deposit the amount withdrawn earlier in your NPS account a second time. Currently, the option of making a second deposit can be availed once to turn on PRAN and the amount has to be deposited at once.

Who can join NPS

Any salaried person between the ages of 18 to 60 can join NPS. There are two types of accounts in NPS: Tier-I and Tier-II. Tier-I is a retirement account that must be opened for every government employee. There is also a Tier-II volunteer account in which any salaried person can start investing on their own and still withdraw money.

national Pension System

How to get a monthly pension of 60 thousand

If you join a scheme with the age of 25, then till the age of 60 i.e. 35 years, you will have to deposit Rs. 5000 per month under the scheme. The total investment you have made will be Rs 21 lakh. Assuming a return of about 8 per cent on the total investment in NPS, the total corpus would be Rs 1.15 crore. If you buy an annuity with 80 per cent of that amount, the value will be around Rs 93 lakh. The lump sum value will also be around Rs 23 lakh. If the annuity rate is 8 per cent, then after the age of 60, the pension will be around Rs 61 lakh per month. As well as separately 23 Lakh rupeesAlso fund.

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