Maximum age of joining NPS increased from existing 60 years to 65 years

Maximum age of joining NPS increased from existing 60 years to 65 years

Press Information Bureau 
Government of India
Ministry of Finance

01-November-2017 17:08 IST

Maximum age of joining National Pension System (NPS) increased from the existing 60 years to 65 years under NPS- Private Sector. 
maximum-age-of-joining-nps-increased-paramnews

In continuance of the several initiatives under taken by Pension Fund Regulatory and Development Authority (PFRDA) during the last few years to increase the pension coverage in the country, PFRDA has now increased the maximum age of joining under NPS-Private Sector (i.e. All Citizen and Corporate Model) from the existing 60 years to 65 years of age.

Now, any Indian Citizen, resident or non-resident, between the age of 60- 65 years, can also join NPS and continue up to the age of 70 years in NPS. With this increase of joining age, the subscribers who are willing to join NPS at the later stage of life will be able to avail the benefits of NPS.

NPS provides a very robust platform to the subscriber to save for his/her old age income security. Due to the better healthcare facilities and increased fitness, along with the opportunities and avenues available in the private sector as well as in the capacity of self-employment, more and more people in their late 50s or 60s are now living an active life allowing them to be employed productively.

The subscriber joining NPS beyond the age of 60 years will have the same choice of the Pension Fund as well as the investment choice as is available under the NPS for subscribers joining NPS before the age of 60 years.

Subscriber joining NPS after the age of 60 years will have an option of normal exit from NPS after completion of 3 years in NPS. In this case, the subscriber will be required to utilize at least 40% of the corpus for purchase of annuity and the remaining amount can be withdrawn in lump-sum.

In case of such subscriber willing to exit from NPS before completion of 3 years in the NPS, he/she will be allowed to do so, but in such case, the subscriber will have to utilize at-least 80% of the corpus for purchase of annuity and the remaining can be withdrawn in lumpsum.

In case of unfortunate death of the subscriber during his stay in NPS, the entire corpus will be paid to the nominee of the subscriber.

The increase in joining age will provide the options to the subscribers who are at the fag-end of the employment and expecting lump-sum amount at the time of retirement, but willing to defer their retirement planning for future, to open the NPS account and contribute the lump-sum corpus to NPS for better fund management by Professional Fund Manager to fetch better returns and plan for the regular income after some time. The Annuity rates available in the older age fetch better annuities than that at the age of 60 or less age.

This initiative will allow a larger segment of the society particularly senior citizens to reap the benefits of NPS and plan for their regular income.

COMMENTS

7th CPC$type=list$m=0$cate=0$sn=0$rm=0$c=5

Defence$type=complex$count=4$ico=1

7th CPC$type=list$m=0$cate=0$sn=0$rm=0$c=5

Name

'Aaykar Setu' mobile app,1,5th cpc,4,6th cpc,7,7th CPC,389,7th CPC Arrears,4,7th CPC Arrers,8,7th CPC Hindi News,12,7th CPC News,69,7th Pay Commission,213,Aadhaar,22,ad-hoc bonus,3,ad-hoc staff,1,additional hra,1,admit card,1,advance salary,1,AGEY,1,aicpin,9,aigdsu news,4,AIIMS,2,ailtc railways,6,aipr,3,Air Force,13,Air India,4,air india ltc 80 fare,3,Air Travel,6,Aircel,1,airf,14,Airlines,1,Airtel,4,alcohol policy,1,all india,5,Allowances,124,Amazon Ofers,1,Andhra Pradesh,1,anomaly committee,1,aoc,1,app download,1,Apple iPhone,3,Assam,4,Assistant Jobs,1,Bank,27,bank da,2,bank holidays,1,Bank Policies,19,banknotes,1,Bihar,9,Bihar 7th CPC,3,Bollywood,4,bonous,1,bonus,4,breakdown allowance,2,Breaking News,139,BRICS,1,Bsnl,10,budget,4,Business,84,ca exam pattern,1,Cabinet News,41,cadre restructuring,1,cadre review,11,CAG Report,3,CAPO News,4,Career,56,casual labour,1,casual leave,1,cat Judgement,2,cat order,3,CBDT,12,CBEC,4,CBSE,6,ccs master circular,1,ccs pension rules,2,ccs rules,3,cda rules,2,cgda,16,cgegis table,5,CGHS,84,cghs agartala,1,cghs ahmedabad,1,cghs allahabad,1,cghs bengaluru,2,cghs bhopal,1,cghs bhubaneswar,1,cghs chandigarh,1,Cghs Chennai,1,cghs dehradun,1,cghs delhi,3,cghs guwahati,1,cghs hyderabad,1,cghs indore,1,cghs jabalpur,1,cghs jaipur,1,cghs kanpur,2,cghs karnataka,1,cghs kerala,1,cghs kolkata,1,cghs lucknow,1,cghs meerut,2,cghs mumbai,1,cghs nagpur,1,cghs patna,2,cghs pune,1,cghs ranchi,2,cghs shillong,1,cghs trivandrum,2,cghs uttrakhand,1,chandigarh,1,chhattisgarh,1,child care leave,1,children education allowance,7,China,1,cisf,1,come & play scheme,1,compassionate ground appointment,2,Compensation Policy,3,composite allowance,1,condiment allowance,1,consatant attendance allowance,1,contract labour,7,Conveyance Allowance,3,cpao order,19,cpf,1,cpgrams,3,cpiiw,2,cpse,67,cpse employees,5,cpse guidelines,29,cpse pay revision,2,cpse pension,5,CPSEs Pay,20,Cricket,4,cris,3,CRPF,1,CS(MA) Rules,4,csd,1,csd price list,1,Current Affairs,308,cvc circular,2,d el ed,1,daily officiating allowance,3,dearness allowances,47,dearness relief,18,Defence,198,Delhi,2,delhi high court,1,dept of post order,36,deputation,3,deputation allowance,4,desw,2,desw order,5,disability pension,4,Doctor Jobs,11,doe order,23,doppw order,6,DoPT Order,111,dot order,9,Download MedWatch App,1,Download MyMSME App,1,Download MyMSME App Celebrating Yoga,1,Download NEW ITR FORM,2,Download Swachh Bharat App,1,dpe om,33,dress allowance,5,dress code,1,EC,1,echs,19,ecil,1,EDUACTION,75,Education,7,educational qualification,1,Egineer Jobs,1,Election Commission,1,Employment,6,Entertainment,2,EPFO,21,ESIC,4,EVM,1,Ex-Servicemen,6,exam,2,exempt from tax,1,expected da,9,extra work allowance,1,Extraordinary Pension,1,Facebook,8,fact jobs,1,Family Pension,92,FAQ,2,Featured,79,festivals,1,FIFA,1,File ITR,22,Fin Min Orders,61,Finance,8,Fixed Medical Allowance,6,Flipkart,2,Football,3,FREQUENTLY ASKED QUESTIONS ON GST,1,Games,12,Ganes,2,gazette notification,12,gdce instructions,3,gds arrears,9,gds da,11,gds employees news,14,gds pay,15,gds report,17,gfr,1,GOI News,570,Goods and Services Tax,50,Goods and Services Tex,1,Google,10,government of karnataka,1,Govt Jobs,10,govt of assam,2,govt of assam pensioner,1,govt of assam staff,1,govt of chhattisgarh,1,Govt Project,324,Govt Staff News,1095,Govt Yojna,255,gpf interest rate,1,GPF Rules,11,GPRA,4,gratuity,6,group A,1,Group D,1,Gst,60,GST Rates Finder app,1,Hardship Allowance,1,Haryana Govt Employees,2,Haryana Govt order,2,hba rules,8,Health,25,High Court Judgement,2,high court order,2,hill area allowance,1,holiday list,8,Hollywood,2,honorarium,1,hpca,1,hr allowances,1,hra,2,HRA Allowances,40,iba,3,iba dr,1,ibps,2,icsil,1,ida cpse,13,income tax,20,independence day,1,India,3,India Post,12,Indian Airforce,34,Indian Army,52,Indian Navy,47,indian railway,10,IOCL Jobs,1,IRCTC,8,irtsa,2,Island Special Duty Allowance,1,ISRO,1,iti ltd,1,ITR,30,j&k govt employees,3,j&k govt pensioners,1,Japan,1,Jharkhand,3,Jio News,8,jkssb,1,jnv,7,Jobs,54,Jobs News,90,karnataka,1,kerala,4,Kerala Govt Employees,3,Kerala Govt Pensioners,2,Kolkata,1,KVS,39,kvs pension,2,labour Bureau,7,larsgess scheme,3,Latest,988,ldce,3,leave rules,1,lic pay,2,life time arrear,1,Lok Sabha,136,LTC,31,ltc 80 air fare,4,Ltd Company Jobs,2,mAadhaar App,2,macp,31,Make in India,2,Market,1,Maruti Suzuki Dzire,1,maternity leave,6,medical card,1,Medical claims,4,Meghalaya Govt Employees,1,MERIT app,1,mes,1,MGNREGA,2,mha,1,mhfw order,14,mhrd order,1,Microsoft,1,Microsoft News,1,minimum wages,7,mod order,13,mohfw order,1,monetary allowance,3,MP,1,msp,2,mtnl,1,NABARD,1,Namami Gange,5,National,705,ncjcm,19,nda,2,ndmc,1,New Delhi,3,new TRCA matrix,5,nfir,59,NGT,1,night duty allowance,2,northern railway,1,Notification,1,npci,1,nps,19,nursing allowance,2,nursing perssonsel,2,NVS,9,odisha,3,odisha govt pensioner,1,operation theater allowance,1,ordnance factory,1,orop,3,overtime allowance,6,PAN,6,pass rules,3,Passports,1,patna high court judgement,1,pay fixation,14,pcda circular,35,pco allowance,2,pdca circular,6,Pension,178,Pension Adalat,1,Pension Adalat Application Form,2,Pension faq,20,Pension revision,7,Pensioner,152,Pensioner associations,2,Pensioner Portal,12,pfrda,3,pgportal,3,pl bonous,12,PM Modi,27,PMAY,5,PMUY,1,PMVVY,1,Policies,381,Politics,35,post graduate allowance,1,post office,2,prcp in railway,4,President,2,Project Allowance,2,Promotions,18,Promotions policy,18,provisional pension,2,puducherry,1,Railway,328,rajasthan govt employees,2,rajasthan govt pensioners,1,rajbhasha,1,Rajya Sabha,38,Rashtriya Swasthya Bima Yojana,1,ration money allowance,2,RBI,11,Real Madrid,1,Recruitment,6,recruitment rules,9,relhs,1,remote area allowance,1,remuneration,1,RERA Act,1,reservation criteria,10,rest rules,1,Result,5,retirement age,1,revised pay,24,revised pay matrix table,5,revised pension,2,revised vda,7,rilways,1,risk and hardship allowance,5,running staff,2,RUSA,1,s,1,SAARTHI App,1,SBI,10,SBI Rules,6,scholarship,1,Science,17,scova meeting,1,SEVA App,1,Seventh Central Pay Commission,149,SKILL INDIA Mission,1,small saving scheme,2,special allowance,3,Special LC Gate allowance,1,Sports,16,ssc jos,1,status of PPOs,2,storekeeping staff,1,strike,2,study allowance,1,Sukanya Samriddhi Account,2,Supreme Court,22,Supreme Court Judgement,10,Survey,1,syllabus,1,syndicate bank,1,Tarang Sanchar,1,Tax,22,tds deduction,1,teacher jobs,2,Tech,34,Telangana,1,telangana govt employees,1,Telcome,2,Telcome News,8,timely disposal of applications,1,TN Govt Employees,3,TN Govt Pensioners,2,tnusrb recruitment,1,Trade,1,trade unions,1,TRAI,1,training allowance,1,Transfer policy,23,transport allowance,4,Travelling Allowance,21,Trending Now,131,tripura govt employees,1,tripura govt pensioner,1,Trump,1,uan,1,Uber,1,ugc,1,uidai,1,UJALA Scheme,1,UP CM Yogi Adityanath,2,upgradation of pay,2,uppsc,1,UPSC Jobs,2,USA,2,Uttar Pradesh,3,vrs,2,Weather,2,West Bengal,1,Whatsapp,2,Windows 10 OS,1,World,62,World Press Freedom Day,1,You Tube,2,
ltr
item
Param News: Central Government Employee News|Latest DOPT OM: Maximum age of joining NPS increased from existing 60 years to 65 years
Maximum age of joining NPS increased from existing 60 years to 65 years
Now, any Indian Citizen, resident or non-resident, between the age of 60- 65 years, can also join NPS and continue up to the age of 70 years in NPS.
https://1.bp.blogspot.com/-gxTqKJU-mEo/WfvDKnPW7qI/AAAAAAAAEcI/nbWb_IQ17hkOAuJ6kpuDmSncQa5fz5w6wCLcBGAs/s1600/maximum-age-of-joining-nps-increased-paramnews.png
https://1.bp.blogspot.com/-gxTqKJU-mEo/WfvDKnPW7qI/AAAAAAAAEcI/nbWb_IQ17hkOAuJ6kpuDmSncQa5fz5w6wCLcBGAs/s72-c/maximum-age-of-joining-nps-increased-paramnews.png
Param News: Central Government Employee News|Latest DOPT OM
http://www.paramnews.com/2017/11/maximum-age-of-joining-nps-increased.html
http://www.paramnews.com/
http://www.paramnews.com/
http://www.paramnews.com/2017/11/maximum-age-of-joining-nps-increased.html
true
2671314941044517342
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy