Big news for pensioners! NPS withdrawal rules changed, check details here

Pension Fund Regulatory and Development Authority has now allowed NPS subscribers to withdraw the entire accumulated pension wealth without purchasing annuity if the pension corpus is less than Rs 5 lakh.

New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) has announced a major change NPS withdrawal rules. The fund regulator has now allowed NPS subscribers to withdraw the entire accumulated pension wealth without purchasing annuity if the pension corpus is less than Rs 5 lakh. In a gazette notification, the pension regulator also stated that the premature withdrawal limit on a lumpsum basis for NPS has been increased to Rs 2.5 lakh from Rs 1 lakh.