NPS Withdrawal Rule: If you also invest in NPS, this news is for you. Given the people’s economic problems during the Corona epidemic, the pension regulator PFRDA (PFRDA) started a special facility for NPS subscribers in January 2021. Under this, partial money withdrawal could be done through the subscribers’ self-declaration. In this, there was approval from PFRDA to submit an online application.
Application Will Have To Be Submitted To The Nodal Officer.
Under this facility, the online applications sent by the subscribers were processed through the CRA system after bank account verification through direct penny drop. After the reduction in the cases of Corona, PFRDA has issued a new order related to it. According to this order, all types of subscribers will have to submit their application to the nodal officer for partial withdrawal.
In the circular issued by PFRDA, it was said that it had been decided after abolishing the rules related to the corona epidemic. If you have to withdraw money from NPS, the application related to it will have to be submitted to the concerned nodal office.
Partial Withdrawal Rule
- From NPS Invested in NPS for at least 3 years
- Maximum 25% of the subscriber’s total contribution
- Can be withdrawn a maximum 3 times in the subscription period
- Partial withdrawal can be done only under certain circumstances and may
Money Can Be Withdrawn For These Things
- For children’s higher education
- For children’s marriage
- For buying and repairing a house
- For the treatment of serious illness
- You get the benefit of additional tax exemption on NPS.
