The Pension Fund Regulatory and Development Authority (PFRDA) on January 12, 2023, issued a notification regarding the master circular on Partial Withdrawal of Accumulated Pension Wealth under the National Pension System (NPS).
The following has been stated-
•The subscriber should submit the withdrawal request along with a self-declaration stating the purpose for the withdrawal to the central recordkeeping agency through their respective Government Nodal Office or Point of Presence, as the case may be. In the case where a subscriber is suffering from any illness specified in para 6(d) of this master circular, the withdrawal request may be submitted by any family member of such subscriber.
•The compliance obligation of the intermediary/entity shall not be confined merely to the Master Circular but, also the applicable laws.
•This Master Circular shall take effect from February 01 2024 but shall be without prejudice to their operation and effect, for the period when they were in force until their being subsumed under the Master Circular.
[Notification No. PFRDA/MASTERCIRCULAR/2024/01/CRA-01]
