New Delhi [India], April 27 (ANI/ATK): In February 2023, the Pension Fund Regulatory and Development Authority (PFRDA) issued a circular, mandating NPS subscribers to upload a few documents effective from April 1st, 2023. The pension body mentioned that uploading these documents would ensure timely annuity income payments. PFRDA currently administers and regulates the National Pension System (NPS), which provides a steady income stream to subscribers after their retirement. Furthermore, NPS withdrawal entails a systematic process. Under the existing rules, at the time of maturity, you must use a portion of the accumulated corpus - 40% to be exact - to purchase an annuity plan from an Annuity Service Provider (ASP). ASPs are approved by PFRDA, and offer numerous annuity options to provide a steady stream of income throughout your retirement years. The remaining 60% of the corpus can be withdrawn as a lump sum if it is less than or equal to Rs5 Lakhs. Exiting from Government and Corporat
The Pension Fund Regulatory and Development Authority (PFRDA) has issued a circular mandating NPS subscribers to upload certain documents to ensure timely annuity income payments
New Delhi [India], April 27 (ANI/ATK): In February 2023, the Pension Fund Regulatory and Development Authority (PFRDA) issued a circular, mandating NPS subscribers to upload a few documents effective from April 1st, 2023. The pension body mentioned that uploading these documents would ensure timely annuity income payments.