PFRDA changes rules for National Pension Scheme with drawl

It has now become easier to make full/ partial with drawl from the National Pension Scheme corpus.

The Pension Fund Regulatory and Development Authority (PFRDA) has issued a notification on 27th July 2023. Making the partial/ full with drawl easier from NPS In which the rules for ending the National Pension Scheme (NPS).

It will be beneficial for crores of NPS subscribers. It was said in the notification that now the NPS subscribers could opt out of the NPS and choose any other plan.

The good thing in this is that the subscribers will not have to pay any charges for making premature with drawls.
If a person wants to leave the scheme, then he can do it easily. PFRDA has make the rules easier for everyone.

PFRDA has asked the government, Points of Presence (POP) and nodal officers of National Pension System Trust that they help the NPS subscribers to choose the scheme according to their needs so that they will not have to face any kind of problem in future.

PFRDA also said that the customers could choose any kind of annual service and they will not have to pay any extra charges for it.

The reason behind this is that the customers are already paying taxes to the government so no additional charges will be taken from them.

Insurance companies have been instructed that they can only take the premium amount from the subscriber. Apart from this, they should not be pressurized for any other kind of fee.

According to the rules of PFRDA if the total amount and interest deposited by a subscriber in NPS is less than Rs5 lakh then he can withdraw all the amount in one go.

If it is more than Rs5 lakh, then the subscriber can withdraw 60% amount in one go but rest 40% will be with the NPS.