For partial withdrawal, the application has to be submitted to the Nodal Officer only.
Rules for withdrawing money from NPS will change from January 1
Exemption was given to NPS customers in January 2021
new Delhi. The rule for withdrawing money from the National Pension System (NPS) is about to change. Actually, the partial withdrawal rule is going to change for NPS customers. Pension Fund Regulatory and Development Authority ie PFRDA has issued a new order regarding this.
According to PFRDA, customers of all government sector customers (Central, State and Central Autonomous Body) will now have to submit their application for partial withdrawal to their nodal officer only.
Online request for partial withdrawal from self declaration was allowed
In January 2021, the PFRDA allowed online request for partial withdrawal by NPS subscribers through self-declaration in view of the Corona epidemic. At that time it was said that as a special relaxation to deal with the Kovid epidemic, partial withdrawal is being allowed for customers through self-declaration.
PFRDA issued circular
Pension fund regulator PFRDA said in a circular dated December 23, 2022, “After abolishing the rules related to the corona pandemic and with the relaxation of the lockdown rules, it has been decided that all government sector subscribers (Central, State and Central Autonomous Bodies) have to submit their request for partial withdrawal from NPS to their respective nodal offices.
What are the rules for partial withdrawal in NPS?
>> Invest in APS for at least 3 years
>> 25% withdrawal from the total contribution of the subscriber
>> Withdrawal possible 3 times in subscription period
>> Partial withdrawal is possible for some important reasons
FIRST PUBLISHED : December 26, 2022, 21:00 IST