Current Affairs · Government Schemes

Evaluate the following statements related to the exit and withdrawal rules from the NPS upon reaching the age of superannuation: Statement 1: A subscriber who reaches superannuation can withdraw up to 60 percent of the total accumulated pension wealth as a tax-free lump sum, which can be taken in a single or multiple installments until the age of 75. Statement 2: The remaining minimum 40 percent of the corpus must be mandatorily used to purchase an annuity from an empanelled Annuity Service Provider (ASP). Statement 3: If a subscriber has a total accumulated corpus of 8 lakh rupees at retirement, they must purchase an annuity for at least 4 lakh rupees, as a 100 percent withdrawal is only for a corpus below 2 lakh rupees. Statement 4: If a subscriber chooses to defer the lump sum withdrawal, they must also mandatorily defer the purchase of the annuity for the same period. Which of the following describes the validity of these statements?