In September 2021,the Pension Fund Regulatory and Development Authority (PFRDA) increased the entry age for the National Pension System (NPS) from_______ to ______.

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SSC CGL 2023 Tier-I Official Paper (Held On: 26 Jul 2023 Shift 1)
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  1. 60 years; 65 years
  2. 65 years; 70 years
  3. 62 years; 65 years
  4. 62 years; 70 years

Answer (Detailed Solution Below)

Option 2 : 65 years; 70 years
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The correct answer is 65 years; 70 years.Key Points

  • In September 2021, PFRDA increased the entry age for the National Pension System (NPS) from 65 years to 70 years.
  • The maximum age for joining the National Pension Scheme is 70 years.
  • A citizen of India, whether resident or non-resident can join NPS (National Pension Scheme).

Additional Information

  • Pension Fund Regulatory and Development Authority:
    • It is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS).
    • It works under the Department of Financial Services under the Ministry of Finance.
    • Functions:
    • It performs the function of appointing various intermediate agencies like Pension Fund Managers, Central Record Keeping Agency (CRA), etc.
    • It develops, promotes, and regulates the pension industry under the NPS and also administers the APY.
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