NPS New Rules: Are you also taking advantage of the National Pension System… Have you also invested money in NPS? If yes, then from April 1, 2023, there is going to be a big change in the rules of NPS.
NPS Rule Change: Are you also taking advantage of the National Pension System… Have you also invested money in NPS? If yes, then from April 1, 2023, there is going to be a big change in the rules of NPS. PFRDA has given information about this. PFRDA has told that there is going to be a change in the rules for withdrawing money from the National Pension System Scheme.
New rules will be applicable from April 1
The new rules will come into force from 1 April. Let us tell you that under the new rules, it will be necessary to give some documents. If any subscriber does not submit these documents then he will not be able to withdraw his money from NPS.
These instructions given to the officers
According to the circular issued by PFRDA, it will be necessary for the subscribers to provide these documents for KYC update. PFRDA has instructed all the nodal officers that the documents of the subscribers should be compulsorily uploaded and it should be ensured. If any kind of mistake is found in these documents, then the money of NPS subscriber will be stopped.
As per the government circular, the NPS subscriber will have to submit the following documents-
>> NPS Exit / Withdrawal Form
>> ID & Address Proof
>> Bank Account Proof
>> PRAN card copy
Partial withdrawal can be done only 3 times
You can withdraw money from NPS before maturity for children’s higher education, their marriage, construction or purchase of house and treatment of serious diseases. An investor in NPS can make partial withdrawals only 3 times during the entire tenure.
Who can open account
People from the age of 18 to 60 years can invest in NPS. This is a scheme started by the Central Government. In this, investors can invest in both equity and debt. Apart from this, you can also select the option of 75 percent equity investment in it. At the same time, after the completion of the scheme period, you can withdraw 60 percent of the total deposit amount. At the same time, you can keep 40 percent of the money as an annuity, so that after 60 years you can get pension.
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