Current Affairs · Government Schemes
Mr. Ramesh is a 55-year-old professional who has been contributing to the NPS since 2010. His current total corpus is 80 lakh rupees. He is considering a premature exit from the scheme to start a small business. Based on the PFRDA regulations governing premature exits before superannuation for all citizens, what is the most accurate outcome if Ramesh proceeds with a premature exit today?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Ramesh is not allowed to exit the scheme until he reaches the age of 60 because he is in the private sector.
- 2Ramesh can withdraw the entire 80 lakh as a lump sum because he has been in the scheme for more than 10 years.
- 3Ramesh must use 80 percent of his corpus (64 lakh) to buy an annuity and can take only 20 percent (16 lakh) as a lump sum.✓
- 4Ramesh can withdraw 60 percent as a lump sum and the remaining 40 percent must be used for an annuity.
Correct answer
Ramesh must use 80 percent of his corpus (64 lakh) to buy an annuity and can take only 20 percent (16 lakh) as a lump sum.
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