NPS is an optional and long term investment plan for retirement, managed by the Government and the Pension Fund Regulatory and Development Authority (PFRDA). You can decide in what types of mutual funds your NPS investment will go to. At 60 years of age, you get back 60% of hte value and the balance 40% is invested in a scheme that pays periodic pensions. The amount invested in NPS can be reduced from your income up to certain limits, lowering your tax liability.

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