I recently learned that in NPS, we are required to allocate 40% of our corpus to an annuity plan upon retirement. For instance, if my maturity amount at retirement is ₹1 crore, ₹40 lakh would be invested in an annuity plan. In the event of my passing at 61, would my family member/nominee receive the ₹40 lakh principal amount, or would they only receive the assured interest for their lifetime?
We’ve explained 5 different types of Annuity plans in our support article. Check this out once
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