PFRDA increases the entry age in National Pension System (NPS) to 70 years

PFRDA increases the entry age in National Pension System (NPS) to 70 years

• The Pension Fund Regulatory and Development Authority (PFRDA) has increased the entry age for the National Pension System (NPS) from 65 years to 70 years.
• Earlier the eligible age to invest in NPS was 18-65 years which has now been revised to 18-70 years. As per the revised norms, any Indian Citizen, resident or non-resident and Overseas Citizen of India (OCI) between the age of 65-70 years can join NPS and continue or defer their NPS Account up to the age of 75 years.
• If a person joins NPS after 65 years, then the Normal Exit shall be after 3 years. Exit before 3 years will be considered premature exit. 
• There is also a limit on the amount that can be exposed to equity in case the NPS is open after 65 years. The maximum equity exposure is 15% and 50% under Auto and Active Choice respectively.

Points to remember:

1. What is the eligibility age for investing in NPS?= 18 to 70 years
2. An existing NPS account holder can defer the account till which age?= 75 years
3. Normal exit period for a person who has opened NPS account after the age of 65 years?= 3 years

Source: PFRDA