Everyone is worried about the time after their retirement. A large number of people are investing in NPS these days. Tell us when you can withdraw money from NPS account.
Can be withdrawn after 60 years
NPS investors can withdraw money after 60 years. But keep in mind that a person can only withdraw up to 60 percent. This money is tax free. The remaining 40% is to be added to the annuity plan so that you receive a pension every month. There is a tax on this annuity plan. If the amount is less than Rs 2 lakh, 100% of the funds can be withdrawn from the NPS account.
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If you exit ahead of time
If NPS investors want to exit before 60 years. So they have to put 80% of the money into an annuity plan. But 20 per cent can be withdrawn. If the accumulated amount is less than Rs 1 lakh, 100% of such money can be withdrawn.
In the event of death
If the investor dies, the entire money is paid to the nominee.
How to exit
In the case of offline, the entire process must be completed by visiting the NPS office. At the same time, online login at enps.nsdl.com.
Banking, debit card, Aadhaar and biometric withdrawals will be launched from PACS in 6740 villages in Uttar Pradesh from July 1.
Who can open an NPS account?
Anyone aged 18 to 65 years can invest in NPS. Its maturity when you’re 60 years old. This means that if you start investing at the age of 18 or 50, you will get paid only after you are 60 years old. This means that the sooner you start investing, the better you get.