Have dependent family members? Buy return of purchase price annuity
Published by Business Standard
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, said NPS subscribers without financial dependants may opt for an annuity that does not return the purchase price, and so get a higher annuity for themselves and their spouse.
More of Abhishek's views on retirement
The article explains a PFRDA change that lets NPS subscribers with a corpus above ₹10 lakh split the compulsory annuity purchase into several annuities of at least ₹5 lakh each. It discusses spreading purchases across insurers and over time, limiting the number of annuities, joint life options, and the trade-off between annuities with and without return of purchase price.
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Have dependent family members? Buy return of purchase price annuity
