The National Pension System, or NPS, is a retirement saving option where individuals can contribute a monthly amount to withdraw regular income after retirement. Under the NPS Tier 1, a person is allowed to withdraw 60 per cent of the accumulated corpus contributed during his/ her working years at the time of retirement, which is tax-free. Assuming the annuity rate …
In the wake of some states mulling over re-introducing the old pension scheme for their staff, the central government is planning to make the reform-oriented National Pension System more attractive by increasing its annuatised amount for the employees, according to a report. Under the NPS, a person is allowed to withdraw 60 per cent of the accumulated corpus contributed during …
