Q1. With reference to the PFRDA circular dated 15 May 2026 on the National Pension System, consider the following statements:\n1. The lump-sum withdrawal limit at exit has been raised from 60 per cent to 80 per cent of the corpus.\n2. The maximum NPS account continuation age has been extended from 75 years to 85 years.\nWhich of the statements given above is/are correct?
Explanation
Statement 1 is correct: the PFRDA circular dated 15 May 2026 raised the lump-sum withdrawal limit from 60 per cent to 80 per cent of the NPS corpus, with the rest going to annuity or structured drawdown. Statement 2 is correct: the maximum age for continuing an NPS account has been extended from 75 to 85 years to allow longer compounding. Both statements are correct.