10 new rules you should know before withdrawal from NPS Accountadmin
National Pension System (NPS) launched by the Government of India on January 1, 2004. It is a defined contribution based pension scheme, which aims to provide regular income during old age and generates market-based returns over the long term.
Many investors see NPS as a Retirement Product and cannot withdraw in case of any urgency. It may be noted that partial withdrawal benefit is also available in NPS under certain circumstances. Recently PFRDA (Pension Fund Regulatory and Development Authority) said that NPS subscribers can also partially withdraw funds from their NPS account for the purpose of higher education or setting up new business.