NPS | National Pension System (New Pension Scheme) with effect from 01/04/2013 - PRAN Registration - Guidelines - Forms Etc...
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Eligibility for Partial WithdrawalYou are eligible for making a partial withdrawal request only if you have been an NPS subscriber for at least 3 years (from the date of your joining the scheme). Frequency and Limits of Partial WithdrawalYou can withdraw up to a maximum of 3 times during the entire tenure of your NPS account. You can withdraw up to 25% of the contribution in NPS at any time, excluding those made by your employer, if any. Also, you can withdraw only 25% of the contributions made by you between two partial withdrawals. Circumstances for Partial WithdrawalThe purposes for which you can make a partial withdrawal request include: Higher education for your children, including a legally adopted child Marriage of your children, including those legally adopted Purchase or construction of a residential house or flat in your name or a joint name with your legally wedded spouse Specified illnesses that involve hospitalization and treatment, either of yourself or your legally wedded spouse, your children (including those legally adopted), or dependent parents Meeting your medical and incidental expenses arising out of a disability or incapacitation suffered Meeting your expenses for skill development or re-skilling, or any other self-development activities, as permitted by PFRDA Establishment of your venture or start-up, as permitted under PFRDA guidelines There are 14 specific diseases covered for partial withdrawal, including other critical illnesses of a life-threatening nature as may be mentioned in the circulars, notifications or guidelines issued by PFRDA at different points in time. These include:1) Cancer 2) Primary pulmonary arterial hypertension 3) Kidney failure (end-stage renal failure) 4) Multiple sclerosis 5) Major organ transplant 6) Coronary artery bypass graft 7) Aorta graft surgery 8) Heart valve surgery 9) Stroke 10) Myocardial infarction 11) Coma 12) Total blindness 13) Paralysis 14) Accident of a serious or life-threatening nature Withdrawal ProcessSubmit the filled applications along with required documents with DDO covering letter in one copy to Treasury office. Once the process is completed, the treasury will directly credit the amount to the concerned employee's account. Necessary documents1] Application Form- FORM 601 PW 2] Self Declaration Form 3] Pan card copy ( self attested) 4] Aadhar card copy (self attested) 5] NPS Registration card copy (self attested) 6] Bank account copy (self attested) |
