New Pension Scheme [Thread 428670]

harshal16

Dear Friends,
As everyone knows, all those joining the govt. organization on and after 01.01.2004, will automatically be a member of New pension Scheme, without any choice.
I want to know what if a person leaves govt. job in 2 yrs and joins some other concern where NPS is not in vogue, then can the employee get his amount back, if yes when..
And can anyone give some more insight on NPS from an employee's point of view...

pon1965

Tier I account deposits can not be withdrawn till you reach 60 yrs but Tier II deposits can be withdrwan at any moment. Tier I A/c will remain dormant if there are no contributions which can be revived on paying penal amount of Rs.100/- yr and you can continue subscribing.
Pon

harshal16

Dear Pon,
Thanks, but as you know Tier II is yet not operational and why should an employee pay penal amount when he is no more in a concern whr he can deposit NPS subscription?

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