NPS Tips: An investment of Rs 3000 in NPS will yield Rs 44.35 lakh on maturity...
National Pension System: The Pension Fund Regulatory and Development Authority (PFRDA) has mandated that certain documents be uploaded by subscribers to speed up and simplify annuity payments after leaving the National Pension System (NPS).
PFRDA is a regulatory body for the overall supervision and regulation of pensions in India. It had earlier said that in the interest of subscribers and to benefit them with timely payment of annuity income, uploading of documents will be mandatory.
What are the new changes for NPS subscribers?
PFRDA has asked NPS subscribers to upload these documents. For parallel processing of withdrawals and annuities, certain withdrawal and KYC documents must be uploaded.
List of documents-
- NPS Withdrawal/Withdrawal Form
- Proof of identity and address mentioned in the withdrawal form
- Proof of your bank account
- Copy of Permanent Retirement Account Number (PRAN) card
National Pension System: Calculator-
If your monthly contribution is Rs 3,000 and you are 34 years old, you still have 26 years to make pension account payments. This figure has been calculated keeping in mind an estimated 10% annual ROI or interest rate. With a total original investment of Rs 9.36 lakh in NPS, you will get Rs 44.35 lakh on maturity as per NPS calculations.
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