CURRENT AFFAIRS

Detailed explanation-1: -Applicant should be between 18 – 60 years of age as on the date of submission of his/her application to the POP/ POP-SP. The Central Government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces).

Detailed explanation-2: -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-3: -Subscriber can opt to continue in NPS till 75 years of age and also deposit contributions to avail exclusive tax benefits. All the facilities and options of normal NPS account like access to CRA system, option to switch fund managers and assets class etc. provided.

Detailed explanation-4: -Upon attaining the age of 60 years 2. Exit from NPS before the age of 60 years 3. Upon Death of the Subscriber • How the annuity OR monthly pension is paid? Monthly pension /Annuity will be paid through direct bank transfer to the specified subscribers account only through Annuity Service Providers.

Detailed explanation-5: -Anyone between the age of 18 and 70 can open an NPS account and start saving till retirement.