PFRDA Allows Partial Withdrawal From NPS Amid Coronavirus Crisis

Roshni Agarwal

Now after pandemic advance facility has been allowed to EPF subscribes, pension fund regulatory body PFRDA has stepped to aid NPS investor community during current financial crisis when they may be cash crunched.

But the withdrawal facility against deposits in the NPS account is offered for Covid 19 treatment whose toll in India has reached 200 mark and number of positive cases has scaled to 6400 patients.

This is because the covid 19 treatment falls under the critical illness category.

The partial withdrawals shall be permitted to fulfil financial needs of the subscribers, if required to him/her against the request placed for partial withdrawals towards treatment of the illness of subscriber, his legally wedded spouse, children, including a legally adopted child or dependent parents, as per the regulations, PFRDA said in the circular.

For making the claim of partial withdrawal you would need to place partial withdrawal as well as produce a medical certificate.

"We would like to clarify that presently, there is no provision for subscribers to make partial withdrawals under APY," PFRDA added.

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