Post Office NPS Partial Withdrawal Form
The National Pension Scheme (NPS) was established by the Indian government to provide citizens with a secure future after they retire. Enrolling in a plan is frequently noted to be simpler and easier than quitting a program.
The National Pension Scheme, on the other hand, offers a variety of withdrawal choices. Following a few simple guidelines will make withdrawing funds from your National Pension Scheme account as straightforward as the post-retirement lifestyle you envision.
Withdrawal Rule
- During the duration of his or her subscription, a subscriber can only withdraw three times.
- A minimum of 5 years should pass between any two withdrawals for a subscription. Only in medical emergencies can this chasm be bridged.
- A subscriber can only withdraw up to 25% of his or her contributions to this plan.
- To be eligible for partial withdrawal, a subscriber must have been a member of this scheme for at least three years.
- Only in extraordinary circumstances, such as the education of his or her children, wedding expenses, house construction, or medical emergency, is partial withdrawal permitted.
Amount For Partial Withdrawal
Partially withdrawing from the NPS was previously prohibited, but thanks to regulation changes, contributors can now withdraw up to 25% of their assets. Only the principal amount is eligible for a partial withdrawal. The interest collected on the account is non-transferable. As a result, only 25% of the money contributed to the NPS account can be withdrawn, not the entire account value.
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