NPS: According to a recent update, let us tell you that the Central Government is in the mood to make some changes in the pension rules before the Lok Sabha elections 2024. In such a situation, let us know in the news below what changes will happen in the pension scheme of government employees…
National Pension System: On one hand, the employees are adamant on demanding the restoration of the old pension system from the Central Government. On the other hand, the Central Government is in the mood to make some changes in the pension rules before the Lok Sabha elections 2024, so that the Central Government does not have to bear the additional burden of pension of the employees like the one under the old pension system and the new pension system Under this, employees can also get more benefits.
For changes in the new pension system, a committee has been constituted by the Union Finance Ministry under the chairmanship of the Finance Secretary, which is reviewing the improvements in the new pension system, the report of which will soon be submitted to the Union Finance Ministry. Let us tell you that on the other hand, the Pension Regulatory and Development Authority (PFRDA) is also considering making changes in the rules of the National Pension Scheme.
The Pension Regulatory and Development Authority (PFRDA) wants to make some changes regarding the National Pension Scheme during the second half of this financial year. In such a situation, preparations are going on that once the current withdrawal system is changed, permission can be given to withdraw 60 percent of the total deposited amount in a systematic manner. Pension Regulatory and Development Authority (PFRDA) wants that the system of withdrawal of funds should be better so that people do not face any problem in withdrawal.
This means that in the National Pension Scheme, instead of lump sum withdrawal after retirement, up to 60 percent of the amount will be allowed to be withdrawn in a systematic manner till the age of 75 years. Whereas 40 percent amount will have to be invested in annuity.
According to the Pension Regulatory and Development Authority (PFRDA), preparations are underway to launch this scheme from the second half of this financial year. In such a situation, customers can set a time limit for withdrawal of this 60 percent amount and apart from lump sum withdrawal, they can also withdraw it in installments as per their convenience.
