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You are here: Home / National Pension Scheme / NPS subscribers can withdraw after three years
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NPS subscribers can withdraw after three years

March 9, 2018 admin Leave a Comment

NPS subscribers can withdraw after three years

“The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS”

Partial Withdrawal under NPS

The Pension Fund Regulatory Development Authority (PFRDA) has relaxed the norms for partial withdrawal under the National Pension Scheme (NPS). In accordance with the PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations 2017, the subscriber ought to be subscribed to the National Pension System, at least for a period of three years from the date of his or her joining to such system, to be eligible to make partial withdrawals, under specific circumstances as specified in such regulations.

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The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. The subscriber shall be permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her and standing to his or her credit in his or her individual pension account, as on the date of application for withdrawal.

Earlier the subscriber under NPS was permitted to withdraw accumulations not exceeding twenty-five per cent of the contributions made by him or her after 10 years from the date of his or her joining the system, and a maximum of three times during the entire tenure of subscription under NPS.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha today.


Also Check: Central Government Pay Matrix Table 2022 PDF
Related updates:

    New Norms for Withdrawal of National Pension System (NPS)
    NPS Latest News: Processing of Partial Withdrawal Request
    New Pension Scheme : Clarification of Deferred withdrawal of lump sum – PFRDA
    Subscriber details of CG Employees under National Pension System as on 3.10.2015
    Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber–PFRDA
    NPS subscribers of Central Government are 14.1% of the total subscribers as Jan 2016
    Maximum age of joining National Pension System (NPS) increased from the existing 60 years to 65 years under NPS
    NPS has more than One crore subscribers with total AUM of more than Rs.1,60,000 crores
    Proposed Operational Withdrawal Process For NPS Subscribers

Filed Under: National Pension Scheme, NPS

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