EXIT FROM NPS

This query is : Open

Ashish Marwah (Querist)
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11 February 2025 Dear Sir

I am 51 single, divorced and have one little sister who is 32. Recently I lost my job, and I am not in the mood to search for a new one. I am in the process of making arrangement to fulfil my monthly needs. I am holding the NPS which has a small corpus of 5 lacs in tier 1 and 45k in tier 2. Now I want to completely exit from the NPS. Now I must compulsorily accept the 20% withdrawal and 80% annuity. I have a few queries below.
1. Should I consider buying 100% annuity. 20% withdrawal does not make sense
2. Should I consider putting 1.5 lacs more to enhance the annuity (The corpus will become 7 lacs approx.).
3. Should I consider taking out the annuity on a yearly basis (Please explain Its pros and cons), since it offers more benefit.
4. Should I consider the Shriram life insurance.
5. Will it be safe to consider Shriram life insurance for life long future annuity. It offers the highest annuity.
6. Should I consider Annuity for Life with ROP - Subscriber will get annuity for lifetime and on death of the Subscriber, payment of annuity ceases & 100% of the purchase price will be returned to the nominee(s). The annual offer is 49,063.00 (7.01%)
7. Should I consider Annuity for Life without ROP - Subscriber will get annuity for lifetime and on death of the Subscriber, payment of annuity ceases, and no further amount will be payable. The annual offer is 58,112.00 (8.30%)