Vesting Criteria |
Benefit |
| At any point of time before 60 years of age |
You would be required to invest atleast 80% of the pension wealth to purchase a life annuity from any IRDA. Rest 20% may be withdrawn as lump sum. |
| On attaining the age of 60 years & upto 70 years |
At exit you would be required to invest minimum 40% of your accumulated savings (pension wealth) to purchase a life annuity.
You may choose to purchase an annuity for an amount greater than 40%. The remaining pension wealth can either be withdrawn in a lump sum on attaining the age of 60 or in a phased manner between age 60 & 70, at the option of the subscriber. |
| Death due to any cause |
In such cases, option will be available to the nominee to receive 100% of the NPS pension wealth in lump sum. |
