Details of Norms for withdrawal of NPS | Purpose | Limits | Frequency

Details of Norms for withdrawal of NPS | Purpose | Limits | Frequency

Press Information Bureau
Government of India
Ministry of Finance

21-December-2018

details-norms-for-withdrawal-of-nps

NPS Withdrawal Norms

The Pension Fund Regulatory and Development Authority (PFRDA) has changed the norms for withdrawal of National Pension System (NPS) subscribers. Keeping in view the possibility of sudden financial needs of the subscribers, the requirement of minimum period under National Pension System (NPS) for availing the facility of partial withdrawal from the mandatory Tier-I account of the subscriber has been reduced from 10 years to 3 years from the date of joining w.e.f. 10th August, 2017. The minimum gap of 5 years between two partial withdrawals has also been removed w.e.f. 10th August, 2017. A subscriber is eligible for three partial withdrawals during the period of subscription under NPS, each withdrawal not exceeding twenty-five percent of the contributions made by the subscriber and excluding contributions made by the employer. There is, however, no restriction on withdrawals from the Tier-II account of the subscriber.
[post_ads]
The extent and purpose for which partial withdrawals from the Tier-I account under NPS are permissible are as under:

Purpose

i. for higher education and marriage of his or her children including a legally adopted child;

ii. for the purchase or construction of a residential house or flat in his or her own name or in a joint name with his or her legally wedded spouse. In case, the subscriber already owns either individually or in the joint name a residential house or flat, other than ancestral property, no withdrawal under these regulations shall be permitted;

iii. for treatment of specified illnesses: if the subscriber, his legally wedded spouse, children, including a legally adopted child or dependent parents suffer from any specified illness, which shall comprise of hospitalization and treatment in respect of the following diseases:

(a)Cancer;

(b)Kidney Failure (End Stage Renal Failure);

(c)Primary Pulmonary Arterial Hypertension;

(d)Multiple Sclerosis;

(e)Major Organ Transplant

(f)Coronary Artery Bypass Graft;

(g)Aorta Graft Surgery;

(h)Heart Valve Surgery;

(i)Stroke;

(j)Myocardial Infarction;

(k)Coma;

(l)Total blindness;

(m)Paralysis;

(n)Accident of serious/ life threatening nature.

(o)Any other critical illness of a life threatening nature as stipulated in the circulars, guidelines or notifications issued by the Authority from time to time.

iv. Towards meeting the expenses by subscriber for skill development/re-skilling or for any other self-development activities.
[post_ads_2]
v. Towards meeting the expenses by subscriber for establishment of own venture or any start-ups.

vi. To meet medical & incidental expenses arranging out of disability or incapacitation suffered.

Limits

i. The subscriber should have been in the National Pension System at least for a period of three years from the date of his or her joining;

ii. 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;

Frequency

The subscriber shall be allowed to make partial withdrawals for a maximum of three times during the entire tenure of subscription under the NPS. There is, however, no minimum time gap now stipulated between two partial withdrawals.

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

Source: PIB

COMMENTS

Defence$type=complex$count=4$ico=1

7th CPC$type=list$m=0$cate=0$sn=0$rm=0$c=5

Name

'Aaykar Setu' mobile app,1,5th cpc,7,6th cpc,8,7th CPC,423,7th CPC Arrears,4,7th CPC Arrers,8,7th CPC Hindi News,16,7th CPC News,75,7th Pay Commission,224,Aadhaar,24,acpin,1,ad-hoc bonus,4,ad-hoc staff,1,additional hra,2,admit card,1,advance salary,1,AGEY,1,aicpin,11,aigdsu news,6,AIIMS,3,ailtc railways,8,aipr,3,Air Force,13,Air India,5,air india ltc 80 fare,4,Air Travel,9,Aircel,1,airf,18,Airlines,1,Airtel,4,alcohol policy,1,all india,5,Allowances,125,Amazon Ofers,1,Andhra Pradesh,1,Andhra Pradesh govt employee,1,anomaly committee,1,aoc,1,apar,3,app download,1,Apple iPhone,3,Assam,4,Assistant Jobs,1,Bank,34,bank da,3,bank holidays,1,Bank Policies,19,banknotes,1,Bihar,9,Bihar 7th CPC,3,bihar govt employee,2,Bollywood,4,bonous,1,bonus,6,breakdown allowance,2,Breaking News,139,BRICS,1,Bsnl,12,BSNLMRS Hospitals,1,budget,4,Business,84,ca exam pattern,1,Cabinet News,41,cadre restructuring,3,cadre review,14,CAG Report,3,CAPO News,4,Career,56,career progression,1,casual labour,3,casual leave,3,cat Judgement,4,cat order,3,CBDT,12,CBEC,4,CBSE,7,ccs master circular,1,ccs pension rules,3,ccs rules,9,ccsrp rule,1,cda rules,2,cgda,30,cgegis table,6,CGHS,89,cghs agartala,1,cghs ahmedabad,1,cghs allahabad,1,cghs bengaluru,2,cghs bhopal,1,cghs bhubaneswar,1,cghs chandigarh,1,Cghs Chennai,1,cghs dehradun,1,cghs delhi,3,cghs guwahati,1,cghs hyderabad,1,cghs indore,1,cghs jabalpur,1,cghs jaipur,1,cghs kanpur,2,cghs karnataka,1,cghs kerala,1,cghs kolkata,1,cghs lucknow,1,cghs meerut,2,cghs mumbai,1,cghs nagpur,1,cghs patna,2,cghs pune,1,cghs ranchi,2,cghs shillong,1,cghs trivandrum,2,cghs uttrakhand,1,chandigarh,1,chhattisgarh,1,child care leave,2,children education allowance,7,China,1,cisf,1,come & play scheme,1,compassionate ground appointment,5,Compensation Policy,3,composite allowance,1,condiment allowance,3,Condiment expenditure,2,confedration,1,consatant attendance allowance,1,contract labour,7,Conveyance Allowance,3,cpao order,21,cpf,2,cpgrams,3,cpiiw,5,cpse,71,cpse employees,9,cpse guidelines,29,cpse pay revision,2,cpse pension,5,CPSEs Pay,20,Cricket,4,cris,3,CRPF,1,CS(MA) Rules,5,csd,2,csd price list,1,Current Affairs,308,cvc circular,2,d el ed,1,daily officiating allowance,3,dearness allowances,49,dearness relief,18,Defence,253,Delhi,2,delhi govt employee,2,delhi high court,1,dental doctor,2,dept of post order,49,deputation,3,deputation allowance,4,desw,2,desw order,5,disability pension,5,dlc,2,Doctor Jobs,14,doe order,24,doppw order,10,DoPT Order,137,dot order,10,Download MedWatch App,1,Download MyMSME App,1,Download MyMSME App Celebrating Yoga,1,Download NEW ITR FORM,2,Download Swachh Bharat App,1,dpe om,34,dress allowance,6,dress code,1,EC,1,echs,27,ecil,1,EDUACTION,75,Education,7,educational qualification,1,Egineer Jobs,1,Election Commission,1,Employment,6,Entertainment,2,EPFO,26,ESIC,4,eview committee for nps,1,EVM,1,Ex-Servicemen,6,exam,2,exempt from tax,1,expected da,12,extra work allowance,1,Extraordinary Pension,1,Facebook,8,fact jobs,1,Family Pension,99,FAQ,2,Featured,79,festivals,1,FIFA,1,File ITR,23,Fin Min Orders,68,Finance,9,Fixed Medical Allowance,8,Flipkart,2,Football,3,forms,3,FREQUENTLY ASKED QUESTIONS ON GST,1,Games,12,Ganes,2,gazette notification,17,gdce instructions,3,gds,3,gds arrears,9,gds da,11,gds employees news,22,gds pay,15,gds report,18,gfr,1,GOI News,570,Goods and Services Tax,50,Goods and Services Tex,1,Google,10,government of karnataka,1,Govt Jobs,11,govt of assam,2,govt of assam pensioner,1,govt of assam staff,1,govt of chhattisgarh,1,Govt Project,324,Govt Staff News,1151,Govt Yojna,265,gpf interest rate,1,GPF Rules,12,GPRA,4,gratuity,6,group A,1,Group D,1,Gst,61,GST Rates Finder app,1,Hardship Allowance,1,Haryana Govt Employees,2,Haryana Govt order,2,hba rules,9,Health,27,High Court Judgement,3,high court order,2,hill area allowance,1,holiday list,11,Hollywood,2,honorarium,1,hpca,1,hr allowances,1,hra,2,HRA Allowances,39,iba,6,iba dr,1,ibps,2,icsil,1,ida cpse,15,income tax,23,independence day,1,India,3,India Post,18,Indian Airforce,53,Indian Army,73,Indian Navy,67,indian railway,10,IOCL Jobs,1,IRCTC,8,irms,2,irtsa,2,Island Special Duty Allowance,1,ISRO,1,iti ltd,1,ITR,32,j&k govt employees,3,j&k govt pensioners,1,Japan,1,Jharkhand,3,Jio News,8,jkssb,1,jnv,7,Jobs,54,Jobs News,105,karnataka,1,kerala,4,Kerala Govt Employees,4,Kerala Govt Pensioners,2,Kolkata,1,KVS,40,kvs pension,2,labour Bureau,7,larsgess scheme,3,Latest,993,ldce,3,leave rules,3,lic pay,2,life certificate,1,life time arrear,1,Lok Sabha,156,LTC,41,ltc 80 air fare,6,Ltd Company Jobs,2,mAadhaar App,2,macp,35,Make in India,2,Market,1,Maruti Suzuki Dzire,1,maternity leave,6,medical card,3,Medical claims,4,Meghalaya Govt Employees,1,MERIT app,1,mes,1,MGNREGA,2,mha,1,mhfw order,14,mhrd order,2,Microsoft,1,Microsoft News,1,minimum wages,7,mod order,18,mohfw order,5,monetary allowance,3,MP,1,msp,2,mtnl,2,NABARD,1,Namami Gange,5,National,705,ncjcm,21,nda,2,ndmc,1,New Delhi,3,new TRCA matrix,5,nfir,64,NGT,1,night duty allowance,2,northern railway,1,Notification,1,npci,1,nps,37,nps updates,3,nursing allowance,2,nursing perssonsel,2,NVS,11,odisha,3,odisha govt employees,1,odisha govt pensioner,1,operation theater allowance,1,ordnance factory,1,orop,17,overtime allowance,6,PAN,6,pass rules,4,Passports,1,patna high court judgement,1,pay fixation,22,pay slip,1,pcda circular,46,pco allowance,2,pda lists,1,pdca circular,8,Pension,221,Pension Adalat,2,Pension Adalat Application Form,3,Pension faq,21,Pension revision,9,Pensioner,168,Pensioner associations,3,Pensioner Portal,12,pfrda,3,pgportal,3,pl bonous,12,PM Modi,26,PMAY,5,pmjay,1,PMUY,1,PMVVY,1,Policies,395,Politics,36,post graduate allowance,1,post office,3,prcp in railway,4,President,2,Project Allowance,2,Promotions,24,Promotions policy,28,provisional pension,2,puducherry,1,Railway,392,railway servants pass rules,1,rajasthan govt employees,2,rajasthan govt pensioners,1,rajbhasha,1,Rajya Sabha,39,Rashtriya Swasthya Bima Yojana,1,ration money allowance,2,RBI,11,re-enengagement,1,Real Madrid,1,Recruitment,6,recruitment rules,11,relhs,1,remote area allowance,1,remuneration,1,RERA Act,1,reservation criteria,13,rest rules,1,Result,5,retired saffs,1,retirement age,2,retirement benefits,2,review committee for nps,6,revised pay,26,revised pay matrix table,5,revised pension,4,revised vda,8,rilways,1,risk and hardship allowance,8,RS (RP) Rules,2,rsrp rules,2,running allowance,1,running staff,4,RUSA,1,s,1,SAARTHI App,1,SBI,11,SBI Rules,6,scholarship,1,Science,17,scova meeting,1,SEVA App,1,Seventh Central Pay Commission,149,SKILL INDIA Mission,1,small saving scheme,3,special allowance,3,Special LC Gate allowance,1,Sports,16,ssc jos,1,status of PPOs,4,storekeeping staff,1,strike,3,study allowance,1,study leave,1,Sukanya Samriddhi Account,2,Supreme Court,22,Supreme Court Judgement,17,Survey,1,syllabus,1,syndicate bank,1,Tarang Sanchar,1,Tax,22,tds deduction,3,teacher jobs,3,Tech,34,Telangana,1,telangana govt employees,1,Telcome,2,Telcome News,8,timely disposal of applications,1,TN Govt Employees,4,TN Govt Pensioners,3,tnusrb recruitment,1,Trade,1,trade unions,1,TRAI,1,training allowance,3,Transfer policy,27,transport allowance,4,Travelling Allowance,22,Trending Now,131,tripura govt employees,1,tripura govt pensioner,1,Trump,1,uan,1,Uber,1,ugc,1,uidai,2,UJALA Scheme,1,UP CM Yogi Adityanath,2,UP Govt Employees,1,upgradation of pay,2,uppsc,1,UPSC Jobs,2,USA,2,Uttar Pradesh,3,vrs,2,Weather,2,West Bengal,1,Whatsapp,2,Windows 10 OS,1,World,62,World Press Freedom Day,1,You Tube,2,
ltr
item
Param News: Central Government Employee News|Latest DOPT OM: Details of Norms for withdrawal of NPS | Purpose | Limits | Frequency
Details of Norms for withdrawal of NPS | Purpose | Limits | Frequency
The extent and purpose for which partial withdrawals from the Tier-I account under NPS are permissible. partial withdrawals for a maximum of three times, a period of three years
https://4.bp.blogspot.com/-50apAhp16Bw/XCGha9ee4JI/AAAAAAAAJDc/R_id_2V-kZE86tWikOwzQ8cExWejXe4KQCLcBGAs/s320/details-norms-for-withdrawal-of-nps.png
https://4.bp.blogspot.com/-50apAhp16Bw/XCGha9ee4JI/AAAAAAAAJDc/R_id_2V-kZE86tWikOwzQ8cExWejXe4KQCLcBGAs/s72-c/details-norms-for-withdrawal-of-nps.png
Param News: Central Government Employee News|Latest DOPT OM
https://www.paramnews.com/2018/12/details-norms-for-withdrawal-of-nps-purpose-limits-frequency.html
https://www.paramnews.com/
http://www.paramnews.com/
http://www.paramnews.com/2018/12/details-norms-for-withdrawal-of-nps-purpose-limits-frequency.html
true
2671314941044517342
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy