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    Question

    A NPS subscriber who joined NPS after 60 years,

    pre-mature exit is possible after completion of _____ years only.  
    A 18 months Correct Answer Incorrect Answer
    B 2 years Correct Answer Incorrect Answer
    C 3 years Correct Answer Incorrect Answer
    D 4 years Correct Answer Incorrect Answer
    E 5 years Correct Answer Incorrect Answer

    Solution

    Exit rules for subcribers who join NPS after 60 years of age:   In case of Non Govt Sector  

    1. Normal exit is allowed after completion of 3 years. The Subscriber will be required to utilize at least 40% of the corpus for purchase of annuity and the remaining amount can be withdrawn in lump sum. Complete (100%) withdrawal allowed as lump sum if the corpus is less than or equal to ₹ 5 Lakh.  
    1. In case of exit before completion of 3 years ( i.e. pre-mature exit), the Subscriber will have to utilize at-least 80% of the corpus for purchase of annuity and the remaining corpus can be withdrawn in lump sum. Complete (100%) withdrawal allowed as lump sum if the corpus is less than or equal to ₹ 2.5 Lakh.  
    1. In case of unfortunate death of the Subscriber, the entire corpus will be paid to the nominee of the Subscriber as lump sum or nominee can opt for annuity.  
    In case of Govt Sector   In case of Govt Sector, the exit rules will be applicable as per the terms and condition of the employment.  

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