New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    In which of the following cases can a NPS subscriber

    withdraw 100% amount without purchasing an annuity?
    A If the accumulated pension wealth is up to Rs.10 lakh Correct Answer Incorrect Answer
    B If the accumulated pension wealth is up to Rs.8 lakh Correct Answer Incorrect Answer
    C If the accumulated pension wealth is up to Rs.7.5 lakh Correct Answer Incorrect Answer
    D If the accumulated pension wealth is up to Rs. 6 lakh Correct Answer Incorrect Answer
    E If the accumulated pension wealth is up to Rs.5 lakh Correct Answer Incorrect Answer

    Solution

    As per the new rules, full withdrawal is allowed if the accumulated pension wealth in the Permanent Retirement Account of the subscriber is equal to or less than Rs.5 lakh. Otherwise, at least 40% out of the accumulated pension wealth of such subscriber shall be mandatorily utilised for purchase of annuity providing for a monthly or any other periodical pension.

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