NPS subscribers can make partial withdrawal to cover coronavirus expenses

PFRDA declared Covid-19 as a critical illness which is life threatening in nature

The Pension Fund Regulatory and Development Authority of India (PFRDA) on Friday said NPS subscribers will now be allowed partial withdrawal for covering expenses related to treatment of Covid-19.
 

In a circular addressed to all stakeholders and subscribers under the National Pension System (NPS), PFRDA said, “In view of the decision of the Government of India, which has declared Covid-19 as a pandemic, it has been decided to declare Covid-19 as a critical illness which is life threatening in nature.”

The partial withdrawals shall be permitted to fulfil financial needs of the subscribers, if required to him/her against the request