The maximum age for joining the National Pension System (NPS) is raised from 60 years to 65 years for individuals who are not government employees
- Corporate employees and self -employed are eligible to join NPS till the age of 65 years.
- Until now, individuals between 18 and 60 years of age could join NPS
- The decision is taken by Pension Fund Regulatory and Development Authority (PFRDA) of India
- NPS is a voluntary contributory retirement savings scheme designed to enable systematic savings during a subscriber’s working life.
- It aims at providing an adequate retirement income to every citizen of India.
About National Pension System
- It was introduced in 2004 for government employees and opened to every citizen in 2009.
- The subscriber base includes central and state government employees and those from the private sector, including the informal economy.
- Armed forces are not covered under NPS
