NPS partial withdrawal rule changing for these subscribers from Jan 1

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic

When the coronavirus pandemic hit the world in 2020, authorities across countries reacted with urgency to ensure people have adequate amount of cash with them for sudden hospitalisation and other Covid-related expenses. One of the measures adopted in India was allowing National Pension System (NPS) subscribers to partially withdraw money online through self-declaration. This had come as an immense relief to the NPS subscribers.

NPS subscribers were no longer required to submit supporting documents to substantiate the reasons for partial withdrawal. However, as the pandemic subsided, the Pension Fund Regulatory and Development Authority (PFRDA) has decided to do away with