Hi friends, here is New Pension Scheme (NPS) 2004 MCQ Quiz. NPS now called National Pension System Trust is a specialized division of Pension Fund Regulatory and Development Authority which is under the jurisdiction of Ministry of Finance of the Government of India. New Pension Scheme is a very Important topic for various LDC Examinations under Central Government. To ease your preparation we have prepared this MCQ.
These questions will be very useful for Inspector Posts Exam (IPO Exam) and Postal Service Group B Exam (PS Gr.B Exam). Attempt the questions and share your feedback.
New Pension Scheme (NPS) 2004 MCQ Quiz
Join our Telegram Channel for Similar MCQs
Check Here for full MCQ on New Pension Scheme
1. Under default NPS scheme, funds are allocated by the PFRDA among the _ Public Sector Undertaking fund managers based on their past performance in accordance with the guidelines of PFRDA for Government employees?
(A)three
(B)two
(C)four
(D)five
Ans: (A)three
2. What is the percentage of Government Contribution under NPS in respect of individuals who are not Government Employees?
(A)10% of basic salary
(B)14% of basic salary
(C)Individual can choose while joining the scheme
(D)No contribution
Ans: (D)No contribution
3. New Pension Scheme is mandatory for all new recruits joining the Central Government Service from?
(A)1st January, 2004
(B)1st January, 2003
(C)1st January, 2006
(D)1st July, 2005
Ans: (A)1st January, 2004
4. Individuals can normally exit at or after age ____ years for Tier-I of the New Pension system?
(A)50 years
(B)55 years
(C)56 years
(D)60 years
Ans: (D)60 years
5. Under NPS, Individuals would have the flexibility to leave the pension system prior to age 60. In this case, the mandatory annuitization would be __% of the pension wealth?
(A)80%
(B)60%
(C)50%
(D)90%
Ans: (A)80%
6. Contributions and investment returns in respect of Central Government Employees under NPS are deposited in?
(A)Tier-I account
(B)Tier-II account
(C)Tier-III account
(D)Employee can choose either Tier-I or Tier-II at the time of joining
Ans: (A)Tier-I account
7. At exit under NPS, the individual would be mandatorily required to invest ______ percent of pension wealth to purchase an annuity (from an IRDA-regulated life insurance- company)?
(A)50%
(B)60%
(C)40%
(D)20%
Ans: (C)40%
8. On superannuation, a request is received from a subscriber other than NPS-Lite, having pension wealth less than _____ may opt for withdrawal of total pension wealth?
(A)one lakh rupees
(B)two lakh rupees
(C)Fifty Thousand
(D)Five lakh rupees
Ans: (B)two lakh rupees
9. Choice of Pension Fund and investment pattern in Tier-I of NPS has been introduced with effect from?
(A)1st April 2019
(B)31st January 2019
(C)1 July 2020
(D)1 January 2020
Ans: (A)1st April 2019
10. What is the percentage of monthly contribution by the employee under NPS?
(A)5% of Basic Pay plus DA
(B)10% of Basic Pay plus DA
(C)14% of Basic Pay plus DA
(D)20% of Basic Pay plus DA
Ans: (B)10% of Basic Pay plus DA
11. Name the withdrawable account under NPS that can be joined by the individual voluntary?
(A)Tier-I account
(B)Tier-II account
(C)Tier-III account
(D)Employee can choose either Tier-I or Tier-II at the time of joining
Ans: (B)Tier-II account
12. What is PFM under NPS?
(A)Pension Finding Managers
(B)Pension Fund Meeting
(C)Pension Fund Managers
(D)Prior Fund Management
Ans: (C)Pension Fund Managers
13. Pension Fund Regulatory and Development Authority Act, 2013 received the assent of the President on?
(A)22 July 2013
(B)8 December 2013
(C)18 September 2013
(D)24 January 2014
Ans: (C)18 September 2013
14. What is the percentage of monthly contribution by the Central Government under NPS?
(A)5% of Basic Pay plus DA
(B)10% of Basic Pay plus DA
(C)14% of Basic Pay plus DA
(D)20% of Basic Pay plus DA
Ans: (C)14% of Basic Pay plus DA
15. Subscribers under NPS are allowed to choose any one of the pension funds including Private sector pension funds at an interval of?
(A)Every Six months
(B)Once in two years
(C)Once in a year
(D)There is no such option under the present NPS scheme
Ans: (C)Once in a year
Other Useful MCQ Questions
- MCQ Questions on CCS (CCA) Rules 1965
- MCQ Questions on CCS (Leave) Rules, 1972
- MCQ Questions on CCS (LTC) Rules
- MCQ Question on CCS (Medical Attendance) Rules 1944
- MCQ Questions on CCS (Pension) Rules
- MCQ Questions on Children Education Allowance (CEA)
- MCQ on Consumer Protection Act 2019
- MCQ on APAR Maintenance
- RTI Act 2005 MCQ
- Sexual Harassment Prevention Act MCQ