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“The state government will continue to get the returns on the corpus under NPS, so there is no discontinuity,” Pension Fund Regulatory and Development Authority chairman Dipak Mohanty said.States such as Rajasthan, Chhattisgarh and Himachal Pradesh had opted out of NPS, leaving state government employees in a limbo as they could not lay their hands on the corpus lying with fund managers. Mohanty, however, did not comment on how the regulator intends to deal with cases where states may rejoin NPS.
He said the scheme has given “very competitive returns” and is an attractive option for those looking at retirement savings, especially after the regulator allowed systematic withdrawal and retain the corpus up to 75 years.
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