What happens to NPS if I lose my job?
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In case of exit before completion of 3 years, the Subscriber will have to utilize at-least 80% of the corpus for purchase of annuity and the remaining corpus can be withdrawn in lump sum. Complete (100%) withdrawal allowed as lump sum if the corpus is less than or equal to ₹ 2.5 Lakh.
If you lose your job, the National Pension System (NPS) will not be affected directly. NPS is a long-term retirement savings scheme, and it remains intact even if you change jobs or become unemployed. You can continue to contribute to your NPS account on your own, even without an employer’s contribution. However, it’s essential to review your financial situation and make sure you can continue making contributions to your NPS account during this period. Remember, NPS is a valuable retirement savings tool, so it’s worth considering your options and making informed decisions about your contributions. 😊💰🏦