How does NPS work?
The NPS is a structured retirement savings plan created to offer financial stability to elderly people. The two account types that NPS provides are Tier 1 and Tier 2 accounts. Tier 1 is required to have a
lock-in duration of 60 years of age and offers you the tax benefit. A Tier 2 account has no lock-in period and is voluntary, so you can take money anytime with no tax advantages. Your contributions to NPS are allocated among various asset classes, including government securities (G), corporate bonds (C), equity (E), and alternative investment funds (A).
https://www.fundsindia.com/national-pension-system
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