Subscribers of National Pension System will have to inform the Central Recordkeeping Agency (CRA) at least 15 days in advance if they wish to continue contributing to their accounts even after attaining the age of 60 years.
Coming out with clarification on its May 2015 norms on exits and withdrawals from the social security scheme, regulator PFRDA also said that subscribers who choose to contribute beyond 60 years of age can exist at any point later.
Further, such subscribers will continue to enjoy the facilities and options like access to CRA system and switch pension fund managers and investment choice. However, “option of deferment of purchase of annuity would not be available to the subscribers who have voluntarily opted to continue to contribute beyond 60 years of age or superannuation”, the regulator added.