What are rules for withdrawal under NPS?

When you are 60 years old, that is normal retirement age or NRA, you must annuitize (buy annuities for) 40% of your pension wealth. The remaining 60% can be withdrawn as a lump sum right away, or you could defer it to when you turn 70 years. You can also annuitize 100% of your accumulated pension when you are 60, to enhance monthly income.