How To Make Partial Withdrawal From NPS Account?

The Pension Fund Regulatory and Development Authority (PFRDA) has rendered partial withdrawals from the National Pension System (NPS) account available by an online mechanism as well apart from offline procedure. With different rules applied in the event of different forms of withdrawals, you can withdraw your NPS contributions both prematurely and after maturity. That being said, unless there is an emergency, it is recommended that one must not make withdrawal of his or her corpus from the retirement fund. And since partial withdrawal is also open, depositors can only withdraw partially from their NPS fund after 3 years of account issuance. There is also, in fact, a withdrawal cap which is up to 25 per cent. Prior NPS does not authorize partial withdrawals, but now partial withdrawals should only be made for personal purposes, such as marriage or schooling of children, serious illness or disability, property acquisition, etc. And, note that there are restrictions to the number of times it is possible to make partial withdrawals. Currently, 3 partial withdrawals can be rendered in an account's overall duration. In addition, there must be a break of 5 years between the two withdrawals. If, though, the withdrawal is rendered for the cure of a stated disease, then that gap requirement will not exist.

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