Govt allows partial withdrawal from NPS fund for COVID-19 related illness by subscribers who apply with proper medical certificate and prescribed application
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan,
Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan,
Qutab Institutional Area,
Katwaria Sarai, New Delhi-110016
Circular
Circular No. PFRDA/2020/7/REG-EXIT/1.
Date:09.04.2020
To,All Stakeholders and subscribers under National Pension System (NPS).
SUBJECT: Permission of Partial withdrawals towards treatment of specified illnesses.
In continuation of the circular no. PFRDA/2018/47/Reg-Exit/4 dated 24.05.2018, issued on the applicability & handling of partial withdrawals, Authority is issuing this circular referring the terms of sub-regulation 8(1)(A)(d)(xv) of PFRDA(Exits and withdrawals under NPS) Regulations, 2015 and amendments thereunder, prescribes that-
(a). In view of the decision of Government of India, which has declared COVID-19 as a pandemic, It has been decided to declare “COVID-19” as a critical illness which is life threatening in nature.
(b). The other terms and conditions as prescribed under regulation 8 of the PFRDA(Exits and withdrawals under NPS) Regulations, 2015 and amendments thereto shall continue to be applicable regarding defining of limits and frequencies.
(c). Documentation
The Nodal Office/PoPs/Aggregators would ensure that the subscriber has provided the following document before authorising partial withdrawals.-
(1). Medical Certificate
(2). Formal request for partial withdrawal.
-s/d-
Vikas Kumar Singh
General Manager
Read / Download Circular No. PFRDA/2020/7/REG-EXIT/1 dated 09.04.2020Vikas Kumar Singh
General Manager