Answer-Which of the following option is incorrect regarding the “National Pension Scheme”?

Eligibility Should be an Indian Citizen Minimum eligibility age is 18 years and the maximum age to open the account is 65 years Applicant should be a KYC complaint Should not have a pre-existing NPS account

Question

Which of the following option is incorrect regarding the “National Pension Scheme”?

A The NPS scheme was launched in the year 2004 by the Pension Fund Regulatory and Development Authority of India (PFRDA).

B The NPS scheme allows its subscribers to make a minimum contribution of Rs. 6000 in a financial year.

C Minimum eligibility age is 18 years and the maximum age to open the account is 60 years.

D The interest rate of this plan is 9%-12%, making it the best pension plan in India for individuals who want to collect funds for the long term, for better financial security after retirement.

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