Waise, at 60 you can take 60% as tax-free lump sum and must use 40% to buy an annuity for monthly pension. But I started NPS at 50, so my corpus will be smaller. For me, that 40% annuity might give a very small amount, not like those who joined young. My focus is the lump sum to help with my son's final college fees—every rupee counts more than a tiny monthly pension.
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