Economics · Financial Sector and Pension Schemes
Which of the following statements is NOT true regarding the National Pension System (NPS)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1NPS is portable across different jobs and geographic locations, ensuring continuity for the subscriber.
- 2NPS offers a Tier-I account that is primarily focused on retirement savings with restricted early withdrawals.
- 3The NPS is regulated and administered by the Pension Fund Regulatory and Development Authority (PFRDA).
- 4Subscribers to NPS are legally required to contribute a fixed mandatory amount each month, regardless of variations in their income.✓
Correct answer
Subscribers to NPS are legally required to contribute a fixed mandatory amount each month, regardless of variations in their income.
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