Index Fund Corner
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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Employees can prematurely exit or opt for Voluntary Retirement if they exit before 60 years of age or before superannuation when they are officially released from employment.
Government Sector
Premature Exit of NPS applies when an employee of the government sector resigns, closes voluntarily, gets terminated, or is removed too soon by the government or their employer.
The entire corpus can be withdrawn as a single amount if it is equal to or less than ₹2.50 lakh on the date the premature exit request was initiated.
If the corpus exceeds ₹2.5 lakh, at least 80% of the total pension asset must be used to buy an Annuity. This will pay the subscriber a monthly pension.
The Subscriber will get a lump sum payment of the remaining 20% corpus.
However, subscribers who have completed Inter-Septide Shifting (ISS) are encouraged to continue with NPS under the All Citizens Model.
Non–Government Sector
Premature Exit is applicable if the subscriber chooses to voluntarily close their Permanent Retirement Account Number (PRAN), provided they have been registered with the NPS for five years.
The entire corpus can be withdrawn as a lump amount if it is equal to or less than ₹2.50 lakh on the date the premature exit request was initiated, similar to the government sector.
Similarly, at least 80% of the corpus must be used to buy an annuity if the corpus initiated was more than ₹2.5 lakh.
For subscribers who have joined the NPS after 60 years of age, premature exit is applicable before the completion of three years under NPS.
The rules and regulations for the non-government sector are similar to those for subscribers who joined the NPS before 60 years of age.
The subscriber’s nominee will receive the full corpus in the event of the subscriber’s untimely death as a lump sum payment, or the nominee may choose to receive an annuity.
(Edited by : Sudarsanan Mani)
