National Pension System (NPS): Withdrawal Rules Explained
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Under the NPS, an exit is defined as closure of individual pension account of the subscriber. NPS also allows partial withdrawal from the mandatory Tier-I account under certain conditions
Popular long-term investment plan for retirement - the National Pension System (NPS) allows premature withdrawal or even exit under certain conditions. While, a Tier-1 account allows the subscriber to make a premature withdrawal or even exit under certain conditions, a Tier II account offers greater flexibility in terms of withdrawal, as it enables the subscriber to withdraw funds any time without any restrictions.
Under the NPS, an exit is defined as closure of individual pension account of the subscriber. NPS also allows partial withdrawal from the mandatory Tier-I account under certain conditions, according to the National Securities Depository Limited (NSDL) - the central record keeping agency for the National Pension System. Here's all you need to know about the exit/withdrawal rules of the NPS: