National Pension System: The maximum age limit to join the National Pension System is 65 years. It is being considered to increase this limit.
A big news is coming about the pension fund. Pension fund regulator PFRDA has proposed to increase the age limit of entry in the National Pension System i.e. NPS from 65 to 70. The pension regulator has also said in its proposal that if someone joins NPS after the age of 60, then they should be allowed to continue to maintain the NPS account till the age of 75 years. For other types of subscribers in NPS, the maximum maturity age is 70 years.
Apart from this, the pension regulator has also suggested to prepare the minimum guaranteed pension product. This will come under the purview of NPS. At present, how much will be the pension under the National Pension System depends on how much has been deposited in the pension fund and how has this fund been performing. It is believed that request for such a product will be put forward within the next 15-20 days.
PFRDA Chairman Supratim Bandopadhyay said that since we have increased the maximum entry age of NPS from 60 to 65 years, in the last 3.5 years, about 15,000 subscribers over 60 years of age have enrolled. This is the reason that the pension regulator is once again considering increasing this age limit from 65 to 70.
