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Query
30-09-2011, 12:24 PM
My wife is working in Pvt. sector and is covered by EPFO. But the subscription amount is minimum i.e is only 780 p.m and the employers contribuion is also 239/- only (3.67% of 6500/-). with this the pension after 30 years of service will be a meagre amount.

I want her to go for NPS as citizen of India and contribute voluntarily in tier I and II as per our wish. Please indicate
(i) whether she can take NPS also in addition to EPF
(ii) In case EPF members are given an option in future to switch to NPS, what will happen?
(iii) After 60 yrs of age annuity is to be bought. How much pension we can expect assuming a 12% return and a corpus of about 20 lakh at the time of retirement in 2025.
(iv) Can we choose the type of annuity? Which? From where? Scheme details?

Regards.