A big and useful initiative has come to the fore for the subscribers of National Pension System (NPS). PFRDA has launched a new scheme named NPS Health Pension Scheme, which aims to cover healthcare expenses through pension savings. The amount deposited in this scheme can be used for expenses like doctor’s fees, medicines and hospitalization. That means NPS money will now help not only after retirement but also during illness. This scheme is completely voluntary and is currently being tested in the sandbox system as a pilot project. Withdrawal facility up to 25% has been provided for normal medical needs and up to 100% in cases of serious illness. In the era of increasing medical inflation, this scheme is being considered an important step towards strengthening both health and financial security.
Big change in NPS. Health Pension Scheme Explained | Money Live | Major changes in NPS | Health Pension Scheme Explained
