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2. NPS Tier II Account (Voluntary Savings Account)
The Tier II account is a voluntary savings account that offers greater flexibility in withdrawals but does not provide the same tax benefits as Tier I. It is only available to those who have an existing Tier I account.
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What is the National Pension Scheme (NPS)?
The scheme offers two investment options: Tier I and Tier II account A Tier I account is a non-withdrawable account (until the age of 60) while a Tier II account is a voluntary, withdrawable account.