13 Retirement Benefits for NPS Employees

How NPS Works?

Retirement Benefits Granted to NPS Employees

FAQs About Retirement Benefits for NPS Employees

Who is eligible to avail the NPS?

All employees of the Central Government, State Government, and other public sector organisations are eligible to join the NPS. Additionally, private sector employees and self-employed individuals can also join the NPS voluntarily.

What happens to the NPS account if the account holder passes away?

In the event of the subscriber's demise, the accumulated pension wealth is paid to the nominee or legal heir of the account holder. The nominee or legal heir can receive the benefits as a lump sum or a regular pension.

Can NPS employees change their pension fund managers?

Yes, NPS employees can change their pension fund managers once in a financial year. They can choose from a list of authorised pension fund managers provided by the Pension Fund Regulatory and Development Authority (PFRDA).