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

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.