Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Research
      • Point Of View
      • Case In Point
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • Rising Star Leadership Awards
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»News»Compensation & Benefits»NPS withdrawal rules altered to cater to unexpected financial needs of subscribers
    Compensation & Benefits

    NPS withdrawal rules altered to cater to unexpected financial needs of subscribers

    HRK News BureauBy HRK News BureauDecember 24, 2018Updated:December 24, 20182 Mins Read3063 Views
    Share LinkedIn Twitter Facebook
    Share
    LinkedIn Twitter Facebook

    The Pension Fund Regulatory and Development Authority (PFRDA) has altered the withdrawal rules for subscribers of the National Pension System (NPS), so that they can deal with sudden financial requirements.

    Earlier, the minimum period under NPS for availing partial withdrawal from Tier-I account of the subscriber was ten years. This has now been brought down to three years, with effect from August 10, 2017.

    Earlier a minimum gap of five years was necessary between two partial withdrawals. Now, a subscriber can make three partial withdrawals during the period of subscription under NPS. No minimum time gap between two partial withdrawals is required.

    Each withdrawal may however, not exceed 25 per cent of the contributions made by the subscriber, excluding the employer’s contribution. However, in case of Tier-II account, there is no withdrawal restriction.

    The partial withdrawals from the Tier-I account under NPS are allowed in case of: higher education; marriage children (including a legally-adopted child); for the purchase or construction of a residence in subscriber’s name or in a joint name with legally-wedded spouse (not permissible if individual already has such a residence); for treatment of specific illnesses of the subscriber, legally-wedded spouse or children or dependent parents; for skill development/ self-development/re-skilling courses or activities; for establishment of own venture or any start-ups, and so on.

    The facility can only be availed if the subscriber has been in the NPs for at least three years from the date of joining.

    National Pension System Withdrawal
    Share. LinkedIn Twitter Facebook
    HRK News Bureau

    Leave A Reply Cancel Reply

    seven − one =

    Related Posts

    Why are Genpact employees unhappy?

    June 18, 2025

    Agilisium gifts Hyundai Creta cars to all its long-serving employees

    June 16, 2025

    Retirement benefits of govt staff can be forfeited under certain conditions

    May 30, 2025

    Emirates posts record profit; shares success with employees

    May 11, 2025

    QUICK HR INSIGHTS

    EDITOR'S PICKS

    How corporate prejudices are strangling innovation in the workplace

    June 19, 2025

    Psychological safety: the new superpower in winning the talent war

    June 18, 2025

    How entitlement is quietly reshaping the modern workplace

    June 18, 2025

    How Raymond stitched tradition to transformation

    June 17, 2025
    Latest Post

    How corporate prejudices are strangling innovation in the workplace

    Exclusive Features June 19, 2025

    In the gleaming conference rooms of corporate India, a familiar drama unfolds. The candidate speaks…

    Welspun Living and NSDC collaborate to upskill Indian textile workforce

    Diversity Equity & Inclusion June 19, 2025

    Welspun Living (WLL), the global home textiles firm and a part of the global conglomerate…

    Swiggy elevates Saurav Goyal to SVP-driver and delivery product & ops

    Movement June 19, 2025

    Swiggy, the Indian on-demand convenience platform has promoted Saurav Goyal to senior vice president-driver and…

    Pocket Entertainment elevates Umesh Bude to CTO

    Movement June 19, 2025

    Umesh Bude has been promoted to the position of chief technology officer (CTO), Pocket Entertainment,…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2025 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.