Budget 2024-25 Changes in NPS: All You Need to Know

The Budget 2024-25 introduces significant changes to the National Pension System (NPS). Key updates include the increase in the tax-exempt contribution limit from ₹2 lakh to ₹5 lakh annually. Additionally, government employees are now eligible for tax benefits on contributions to the NPS, aligning them with the private sector. The new provisions also enable tax-free withdrawals from the NPS corpus, further enhancing its appeal. These changes aim to incentivize more investments in the NPS and improve retirement planning by offering better tax benefits and higher contribution limits.