Partial withdrawals from NPS Account towards treatment of COVID-19 | PFRDA permission

Partial withdrawals from NPS Account towards treatment of COVID-19 | PFRDA permission

Partial withdrawals from NPS Account towards treatment of COVID-19 | PFRDA permission

partial-withdrawals-from-nps-account-towards-treatment-of-covid-19

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.

Hence, in view of the above, the partial withdrawals shall be permitted to fulfil financial needs of the subscribers, if required to him/her against the request placed for partial withdrawals towards treatment of illness of subscriber, his legally wedded spouse, children, including a legally adopted child or dependent parents as mentioned in regulation 8(1)(A)(d) of the said regulations.

(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.

Read also |  महत्‍वपूर्ण खबर! हफ्ते में सिर्फ चार दिन काम और तीन दिन छट्टी का प्रावधान - मोदी सरकार बदल सकती है नियम

(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

partial-withdrawals-from-nps-account-towards-treatment-of-covid-19

Source: Click to view/download pdf

https://www.pfrda.org.in/myauth/admin/showimg.cshtml?ID=1704

COMMENTS