Rise in NPS entry age gives seniors another retirement-saving option

They should invest at least Rs 50,000 to avail of the additional tax benefit scheme provides

The Pension Fund Regulatory and Development Authority (PFRDA) has raised the age of entry into the National Pension System (NPS) for the private sector from 60 to 65. For those who did not join the NPS earlier but would like to do so after 60, this is a positive step.

In its circular, PFRDA says it hiked the entry age in response to requests from the public, corporates and intermediaries. With better health care facilities, growing fitness levels, and increasing life spans, more people now work after 60, and hence have the ability to contribute to a retirement-saving product