NPS Annuity: Choose Your Retirement Pension Wisely

• NPS annuity is a monthly pension bought with a compulsory portion of your corpus, determining payouts for life or family.
• Options include 'Annuity for life' (highest payout) and 'Annuity for life with return of purchase price' (capital back to nominee).
• 'Joint life' options protect spouses, ensuring continued income after subscriber's death.
• 'Family income' option supports multiple generations, returning purchase price after all eligible members pass.
• Recent NPS rule changes allow non-government subscribers to reduce compulsory annuity to 20%, impacting retirement planning.

Why It Matters: Understand NPS annuity options thoroughly as your choice is long-term and impacts retirement income and family security.