The Pension Fund Regulatory and Development Authority (PFRDA) has updated the National Pension System (NPS) rules for non-government subscribers.
Retirees can now withdraw up to 80% of their corpus as a lump sum at retirement, while only 20% must be used to buy an annuity. Those with savings of Rs 8 lakh or less can withdraw 100% without annuity, and mid-range savers can take partial lump sums.
A new Systematic Unit Redemption (SUR) option allows gradual withdrawals, and subscribers can defer annuity purchase up to age 85. The changes give retirees more flexibility and easier access to funds.