MCQ ON NATIONAL PENSION SYSTEM (NPS)

MCQ ON NATIONAL PENSION SYSTEM (NPS)

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What is NPS in simple words?
National Pension Scheme (NPS) India is a voluntary and long-term investment plan for retirement under the purview of the Pension Fund Regulatory and Development Authority (PFRDA) and the Central Government.

The standard NPS question is “how likely are you to recommend us on a scale from 0 to 10,” but you don't need to limit yourself to asking it verbatim. For the open-ended question that follow, there are also different ways to get feedback from your customers.

The first part of the survey asks the NPS question: “How likely are you to recommend our company to a friend or colleague?” Respondents pick a numerical score between 0 and 10. The higher the score, the more likely they are to recommend you – the lower the score, the less likely.

NPS = % promoters - % detractors. For example, if 50% of respondents are Promoters, 10% are Detractors, and 40% are passives, your NPS would be 50-10=40. Use the Excel template below to calculate your score automatically.

NPS is designed on Defined Contribution basis wherein the subscriber contributes to his / her pension account, there is no defined benefit that would be available at the time of exit from the system and the accumulated wealth depends on the contributions made and the income generated from investment of such wealth.

Can I stop NPS after 2 years?
Normal exit is allowed after completion of 3 years. The Subscriber will be required to utilize at least 40% of the corpus for purchase of annuity and the remaining amount can be withdrawn in lump sum. Complete (100%) withdrawal allowed as lump sum if the corpus is less than or equal to ₹ 5 Lakh.