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

    Question

    Which one of the following statements is not true about

    National Pension Scheme (NPS)?
    A Pension programme for the public, private and even the unorganised sectors. Correct Answer Incorrect Answer
    B It is not available for the Armed Forces. Correct Answer Incorrect Answer
    C After retirement, an NPS account holder will receive the leftover amount as a monthly pension. Correct Answer Incorrect Answer
    D The scheme is portable across jobs and locations, with tax benefits under Section 80C. Correct Answer Incorrect Answer
    E All are correct Correct Answer Incorrect Answer

    Solution

    This pension programme is open to employees from the public, private and even the unorganised sectors except those from the armed forces. It encourages people to put money into a pension account at regular periods during their working lives. Subscribers can withdraw a set amount of the corpus after they retire. After retirement, an NPS account holder will receive the leftover amount as a monthly pension. The scheme is portable across jobs and locations, with tax benefits under Section 80C and Section 80CCD.

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