How does one go about making the right and necessary changes in ones NPS account after changing jobs for both Tier-1 and Tier 2 ?
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178371 Points)
Replied 03 March 2022
Depends upon the need of investor. The objectives of both the schemes are totally different.
Tier I is for pension while Tier II is for short/medium term goals.
Investors are not allowed to withdraw funds from Tier I account often, but for emergency needs; which is not case with Tier II accounts.
Tier I has tax benefits attached to its investment, but not the case with Tier II..
Having said that, not advisable to touch Tier I account without specific reason...
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