New NPS rules: More flexibility, higher corpus

Major changes include reduction in annuity purchase to 20% of corpus, lower lock-in, and longer investment tenure

- PUSHPITA DEY @ New Delhi

THE Pension Fund Regulatory and Development Authority (PFRDA) has rolled out a series of changes to the National Pension System (NPS) with the aim of providing subscribers greater flexibility at the time of retirement and ensuring a higher corpus.

Some of the major changes under the revised framework include a reduction in mandatory annuity purchase to 20% of the accumulated corpus, a lower lock in requirement, and a longer investment tenure.