NPS age limit increases to 65 years
Posted on: 12/Sep/2017 9:46:43 AM
Here is a good news to all the pension subscribers. As per the Pension Fund Regulatory and Development Authority’s decision made here on Monday, the upper age limit to join the National Pension Scheme is increased from the present 60 years to 65 years.
Reports state that the PFRDA Chairman Hemant explained about the change adding that it will soon be implemented. For people aging between 18 and 60, NPS is active. The board has now given its nod to increase the age limit by 5 years and increase to 65.
There is also a new option added where subscribers can keep contributing to NPS up to 70 years of age.
This initiative is a part of the government’s moves to widen its pension base. The pension scheme encompasses only 15 to 16 percent of total Indian workforce, said Hemant. For those who are without pensions can also get exposed to such pension schemes with this. About 85 percent of employees in India fall under informal sector.
