Moving abroad? Here’s what you should do with your NPS investments.
For many, the National Pension System (NPS) represents a disciplined, tax-efficient way to save for retirement. But what happens when your residency status changes? Can you still keep investing in NPS after becoming a non-resident Indian (NRI) or an overseas citizen of India (OCI)? What are the compliance requirements, tax consequences, and rules around withdrawals? Read on to find out. What changes?According to Naisar Shah, director, PR Bhuta & Co, Chartered Accountants, “You can continue contributing to NPS, However, upon changing your residency status, some compliance steps are required. You...