The National Pension System (NPS) is a pension and investment scheme developed by the Government of India to provide citizens of India with long-term financial security.<\/p>\n\n\n\n
Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority (PFRDA), the National Pension System (NPS) has been open for individuals from all walks of life to participate and build a retirement nest-egg.<\/p>\n\n\n\n
The law regulating the NPS allows members to withdraw just 60% of their accumulated savings at the time of retirement. With the remaining 40%, it is mandatory to buy an annuity product that provides a fixed monthly income to retirees till their demise.<\/p>\n\n\n\n
Members who accumulate up to \u20b92 lakh in their NPS account at the time of retirement are exempted from the mandatory annuitisation, and can withdraw the full amount.<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Pension System (NPS) is a pension and investment scheme developed by the Government of India to provide citizens of India with long-term financial security. Daily Current Affairs Quiz 2021 Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority (PFRDA), […]<\/p>\n","protected":false},"author":404,"featured_media":41417,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1403],"tags":[60],"offerexpiration":[],"class_list":["post-41416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-april-2021","tag-government-schemes-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/41416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/404"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=41416"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/41416\/revisions"}],"predecessor-version":[{"id":41418,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/41416\/revisions\/41418"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/41417"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=41416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=41416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=41416"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=41416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}