The subscribers can withdraw a specified amount of the fund after retirement. You would get the leftover sum as a monthly pension after retirement, as a holder of an NPS account. Earlier, only Central Government personnel were covered by the NPS programme. The National Pension System (NPS) is a long-term retirement savings plan that increases pension wealth through efficient investments of subscriber payments over the course of the subscriber's continued participation in the plan.
Despite the popular assumption, after retirement, you cannot withdraw the entire fund of the NPS system. To receive a regular pension from an insurance company registered with the PFRDA, you are legally required to set away at least 40% of the fund. Taxes are no longer due on the remaining 60%. According to the most recent information from the government, there are no taxes due on the whole NPS withdrawal corpus.
Read More how to withdraw PF contribution in EPF. What is the difference between NPS CRA and NPS Swavalamban How to download NPS payment receiptYour Feedback Matters! How was this Answer?
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Is saving under NPS-CRA safe enough to get pension benefits post-retirement or can we withdraw money post-retirement?
Guruprasad
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2 Year
2023-03-22T09:22:37+00:00 2023-04-17T02:01:02+00:00Comment
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