CURRENT AFFAIRS

Detailed explanation-1: -A citizen of India, whether resident or non-resident, subject to the following conditions: Applicant should be between 18 – 60 years of age as on the date of submission of his/her application to the POP/ POP-SP.

Detailed explanation-2: -Now, any Indian citizen, resident or non-resident, as well as an Overseas Citizen of India (OCI), who is between 65 and 70 years, is allowed to join NPS and keep or postpone their NPS Account up to the age of 75. Anyone between the ages of 18 and 70 can now open an NPS account.

Detailed explanation-3: -Any Indian citizen, whether a resident or a non-resident, as well as an Overseas Citizen of India (OCI), who is 65 to 70 years old, can now join NPS and maintain or postpone their NPS Account up to the age of 75. The NPS account can now be opened by anyone between the ages of 18 and 70.

Detailed explanation-4: -Continuation of NPS account You can be in NPS till 75 years of age and continue to avail tax benefits. NPS allows Subscriber an exclusive Tax Benefit upto Rs. 50, 000 u/s 80CCD(1B) over and above the limit of Rs. 1.50 Lakh u/s 80C.

Detailed explanation-5: -However, NPS investments by a senior citizen might not be as advantageous as a young investor whose investment will have a long duration of staying invested to get a higher return. Thus, though senior citizens can profitably invest in NPS, it is better to invest in the scheme early on.