What happens to NPS after death?
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After death, the National Pension System (NPS) offers different options depending on the situation. If the NPS subscriber passes away before the age of 60, the accumulated pension wealth is given to the nominee or legal heir as a lump sum. If the subscriber passes away after the age of 60, the nominee can choose to receive a regular pension or withdraw the entire accumulated pension wealth as a lump sum. It’s important to update the nominee details in your NPS account to ensure a smooth transfer of benefits. 😊💰🏦
After the demise of both the subscriber & the spouse, the nominee shall be entitled to receive the pension wealth, as accumulated till age 60 of the subscriber.