PFRDA increases age limit to 65 years to join National Pension Scheme

Updated On : 01 Nov , 2017 , 11:48 PM
Age limit to join National Pension Scheme increased to 65 years. (File Photo)
Age limit to join National Pension Scheme increased to 65 years. (File Photo)
New Delhi:

The Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday increased the upper age limit for joining the National Pension System (NPS) to 65 years from the current 60 years.

The NPS was open for people between 18 years and 60 years. The new scheme has the option of continuing and making contributions up to the age of 70

The finance ministry said, “This is in continuance of the several initiatives undertaken by PFRDA in the last few years to increase the pension coverage across the country.”

The ministry said, “Any Indian citizen, resident or non-resident aging between 60years and 65years can join the NPS and they can continue to avail it till the age of 70years.”

The statement also states that the subscribers willing to join the NPS at the later stage of life will be able to avail all benefits of the pension scheme.

According to the statement, subscribers joining the NPS after the age of 60 years will avail the same choices of the pension fund as people availing the scheme before the age of 60years.

First Published : Wednesday, November 01, 2017 11:19 PM
Download the News Nation Mobile App and stay connected with top stories from India and around the world. Available on Android and iOS.