Which of the following statements is true regarding withdrawal from a Tier I NPS account?

Withdrawal is permitted at any time.

Withdrawal is not allowed under any circumstances

Withdrawal is allowed only after retirement.

Under what condition will an NPS account be frozen?

If the employee does not deposit the minimum annual contribution required.

If the employee makes an initial contribution of less than Rs. 500.

If the employee withdraws from the account frequently.

If the employee opens both Tier I and Tier II accounts.

In the event of a "Death Benefit", who can claim the entire Corpus?

Only the account holder's spouse

Which of the following statements about the pension scheme described as INCORRECT?

It is applicable only to Indian citizens residing in India.

It is a pension scheme offered by the Government of India.

It is regulated by the Pension Fund Regulatory & Development Authority (PFRDA).

The entry age for this scheme is between 18 and 70 years.

What is the primary benefit offered by NPS

Additional tax benefits over and above Rs. 1.5 lacs of Section 80C Limit

what are the two main types of contributions to NPS?

Deposited by Employee directly and Deposited by Employer (Government)

Deposited by Employee directly and Deposited by Bank

Deposited by Employer (Government) and Deposited by Bank

Deposited by Public and Deposited by Private Sector

What is a key characteristic of the "Low Cost" USP mentioned for employees?

Charges levied under NPS are extremely low

NPS contributions are tax-exempt

Customers receive a fixed return on investment

Under the "Flexible Contribution Option," what can customers choose to do regarding their NPS contribution?

Increase their NPS contribution over and above their Fixed Contribution (10% of Basic + DA)

Decrease their NPS contribution

Fix their NPS contribution at 10% of Basic + DA

Opt-out of NPS contributions entirely

What kind of investment options are available under the "Choice of Funds & Investment Strategy" USP?

Equities, Corporate Bonds, and Government Securities

The National Pension System Trust (NPST) is responsible for

Providing the first point of contact for subscribers.

Appointing the Pension Fund Managers.

Which entity is responsible for the successful operation of the NPS, including PRAN generation and providing system access to the subscriber?

Central Recordkeeping Agency (CRA)

Annuity Service Providers (ASPs)

What is the primary role of the Custodian in the NPS architecture?

Saving the securities bought by Fund Managers in Demat format and being responsible for their custody.

Providing pension to the subscriber post exit from the system

Being an intermediary responsible for the day-to-day flow of funds.

Generating PRAN and IPIN for subscribers.

The Trustee Bank (Axis Bank) performs which of the following functions?

Acting as an intermediary for the day-to-day flow of funds and banking facilities

Responsible for custody of securities.

Delivering monthly pension to the subscriber.

Issuing IPIN and providing system access.

If someone makes a "Pre Mature Exit" from the scheme shown, what is the tax implication on the amount withdrawn?

It is exempt only for a certain period

How is the "Pension received" treated under the "Tax treatment on Annuity" section?

It is treated as income and will be taxed appropriately if falling into any tax bracket.

It is only taxable if the recipient has other sources of income.

Annuity service providers like HDFC life are primarily involved in which stage of the NPS process

Provide post exit pension to subscribers including monthly payment

Initial subscribers registration and Record keeping

Management and custody of investment securities

Facilitating the day to day flow of funds within the system.

Retail NPS

Authored by Joydip Bhattacharjee

Professional Development

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MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the maximum percentage a customer can invest in equities in Retail NPS depending on their risk appetite, according to the "Choice of Funds & Investment Strategy" for the Subscribers ?

Up to 100%

Max up to 75%

Max up to 25%

A fixed percentage for all customers

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Pension Fund Manager (PFM)

CRA

POP

ASP

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Retail NPS

What is the maximum percentage a customer can invest in equities in Retail NPS depending on their risk appetite, according to the "Choice of Funds & Investment Strategy" for the Subscribers ?

The "Paperless Account opening" USP highlights what benefit for customers?

What is the fundamental principle of the NPS (National Pension System) architecture ?

Which entity is responsible for regulating the pension market in India and was established on August 23, 2003?

What is the primary role of a Point of Presence (POP) in the NPS ecosystem?

Who appoints the Pension Fund Manager (PFM) to manage pension funds under the National Pension System?

Which entities are designated by the PFRDA to facilitate services such as subscriber registration and collection of contributions?

What is another name for a Tier I NPS account?

Which of the following statements is true regarding withdrawal from a Tier I NPS account?

What is the initial contribution required to open a Tier II NPS account?

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