On Tue, Jun 18, 2013 at 2:45 PM, <[email protected]> wrote: > I'd have signed up for a pension plan, but the ones that are on the market > lock in a major part of the capital and compulsorily give me an annuity (at > negligible returns/ rates of interest). While some will argue that this is > the whole point of a pension plan, I'd rather have the flexibility to take a > lump sum and do whatever I want with it. >
Am with you on this. For NPS though the good way is to do the minimums in Tier 1 and do the real investments in Tier 2. Then you can exit all of your Tier 2 money at the age of 59 years and 364 days without having any lock in :) (Or so I think) But if you stay till 60, then part of it gets converted to an annuity and the rest is paid to you. Can check more on this - it's been a while since I checked the rules.
