MCQ
PFRDA and Pension Reform MCQ - Practice Questions with Answers
Solve 2 PFRDA and Pension Reform questions for RAS/RPSC preparation.
Practice questions
Q1With 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?
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.
Q2Which of the following is the maximum percentage of corpus that subscribers can withdraw under the Retirement Income Scheme and Drawdown Options launched by the Pension Fund Regulatory and Development Authority (PFRDA) through its circular dated 15 May 2026 under the National Pension System (NPS)?
As per the PFRDA circular dated 15 May 2026, the Retirement Income Scheme and Drawdown Options under the National Pension System permit subscribers to withdraw up to 80 per cent of their corpus. The circular also extends NPS account continuation up to age 85 and introduces Systematic Lump Sum Withdrawal (SLW) and Systematic Unit Redemption facilities, giving retirees greater flexibility in managing their retirement savings.
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