if one takes voluntary retirement then what happens to nps for private ltd companies.

[rajeshrajdaan]

if i retire after 50 years but nps is 7 years old at the time.
in this account only i have put money, my employer has not.
because i have epfo account where both parties are putting their share.

q1) can i take annuity of 40 % and withdraw 60%

 

[TaxWiser]

if i retire after 50 years but nps is 7 years old at the time.
in this account only i have put money, my employer has not.
because i have epfo account where both parties are putting their share.

q1) can i take annuity of 40 % and withdraw 60%

If you retire after 50 years but your NPS account is only 7 years old, and you've been the only one contributing (no employer contributions),
here's the answer of your question:

• Annuity and Withdrawal: Yes, you can take an annuity of 40% and withdraw 60% of your NPS corpus. This means you can use 40% of your savings to buy a regular pension (annuity) and take the remaining 60% as a lump sum.

Since you also have an EPFO account where both you and your employer contribute, you have a good mix of retirement savings options.

Pro Tip: If you’ve chosen the Old Tax regime in your ITR and your EPFO & NPS contributions are less than ₹1.5 lakh under 80C, you might want to consider adding ELSS mutual funds to your retirement portfolio.