• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • DoPT
  • MACP
  • OROP
  • CSD

CENTRAL GOVERNMENT ORDERS

All about Central Government Employees Orders. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more.

  • 7th CPC
  • Railways
  • Pension
    • Retirement Age
  • Expected DA
    • Dearness Allowance
    • Dearness Relief
  • Defence
    • CGDA
  • EPFO
    • Employees News
      • KV School
      • Promotion
      • Maternity Leave
      • Reservation
      • LTC
    • ESIC
  • CGHS
  • MACP
  • Postal Dept
You are here: Home / Employees News / Exposure Draft on Guidelines for withdrawal of 25% accumulated contributions by NPS Subscribers

CENTRAL GOVERNMENT HOLIDAYS IN 2025

50% DA Order for Central Government Employees wef 1st Jan 2024 PDF
CGHS Updated Rate Card PDF Download
Latest List of KV Schools in India
7th Pay Commission Latest News 2024
MACP for the Central Government Employees

Exposure Draft on Guidelines for withdrawal of 25% accumulated contributions by NPS Subscribers

January 16, 2014 by admin 2 Comments

Exposure Draft on Guidelines for withdrawal of 25% accumulated contributions by NPS Subscribers

 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

EXPOSURE DRAFT

ON GUIDELINES FOR WITHDRAWAL OF 25 % OF ACCUMULATED CONTRIBUTIONS BY NPS  SUBSCRIBERS

Issued on: 15th January, 2014
Last date to accept Comments: 15th February, 2014

As per Chapter VI, Sec 20 (2b) of the PFRDA act, 2013 it has been provided that withdrawals, not exceeding twenty-five percent (25%) of the contribution made by the subscriber, may be permitted from the individual pension account subject to the conditions, such as purpose, frequency and limits as may be specified by the regulations.

Keeping the above in perspective, the draft guidelines for withdrawal of 25 % of accumulated contributions by NPS subscribers are proposed and comments from the public and all concerned are invited. It may also be noted that suggestions on addition/alteration in the proposed guidelines can also be given. Comments/Feedback may be forwarded by email to the e-mail id k.sumit@pfrda.org.in latest by 15.02.2014.

Comments should be given in the following format:

Name of entity/ person
Sr.No. Pertains to which Section/sub-section and Page number Proposed/ suggested changes Rationale

Written comments in the above format may be addressed to:

Mr. Sumit Kumar
Dy. General Manager
Pension Fund Regulatory & Development Authority
1st Floor, ICADR Building, Vasant Kunj Institutional Area Phase – II
Vasant Kunj, New Delhi – 110070
 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
INTRODUCTION
As per Chapter VI, Sec 20 (2b) of the PFRDA act, 2013 it has been provided that withdrawals, not exceeding twenty-five percent (25%) of the contribution made by the subscriber, may be permitted from the individual pension account subject to the conditions, such as purpose, frequency and limits as may be specified by the regulations. In order to finalise the regulations for withdrawals, it becomes imperative to develop the formal aspects of the permitted withdrawals allowed under the Act for the benefit of NPS subscribers.

EXISTING EXIT / WITHDRAWAL GUIDELINES UNDER NATIONAL PENSION SYSTEM (NPS)

The current exit / withdrawal guidelines under NPS are framed in such a manner that the subscriber has a long period of accumulation of corpus for providing him with a decent accumulated pension wealth when he retires or he moves out of the regular work routine due to age. Also, it lets the subscriber have the freedom to move out of the scheme at any point of time, irrespective of cause or reason which determines the complete exit from the scheme.

The following are the current rules/guidelines for withdrawals under NPS as approved by PFRDA:

a) Exit from NPS upon attaining the age of Normal superannuation (for govt. employees only) or upon attaining the age of 60 years (for all subscribers other than govt. employees): At least 40% of the accumulated pension wealth of the subscriber needs to be mandatorily utilized for purchase of an annuity providing for the monthly pension of the subscriber and the balance is paid as a lump sum payment to the subscriber.

b) Exit from NPS before attaining the age of Normal superannuation (for govt. employees only) or before attaining the age of 60 years (for all subscribers other than govt. employees): At least 80% of the accumulated pension wealth of the subscriber needs to be utilized for purchase of an annuity providing for the monthly pension of the subscriber and the balance is paid as a lump sum payment to the subscriber.

c) Upon Death: The entire accumulated pension wealth (100%) would be paid to the nominee / legal heir of the subscriber.

For Swavalamban withdrawals under (a) & (b) in the previous page, there is an overriding condition on the lump sum payment payable due to which the entire accumulated pension wealth would be annuitised in case if the monthly pension obtained by using the 40%/80% of the pension wealth is below Rs.1000/- per month. Also, these exit/withdrawal rules as applicable to NPS can be modified/altered from time to time by the Authority as the NPS progresses.

BACKGROUND
The withdrawal of 25% of accumulated contributions under NPS is in addition to the withdrawal permitted at the time of exiting from NPS by the subscriber as specified above. The subscriber can continue to contribute in the scheme while using such withdrawal facility. These guidelines shall determine the circumstances under which the NPS subscriber can avail such withdrawal functionality under different time frames and thereby putting certain limits to which shall be adhered by him/her.

The guidelines are framed taking into the purpose and object of NPS i.e., to ensure a decent accumulated pension wealth in the accounts of the subscribers at the time of exit.

FEEDBACK /COMMENT PERIOD
The Feedback /Comments on this exposure draft received till 15th February, 2014 would be considered for evaluation by PFRDA. The decision of PFRDA on all and any matters related to the subject matter is final and binding on all stakeholders.

PROPOSED GUIDELINES FOR WITHDRAWAL OF 25 % OF ACCUMULATED CONTRIBUTIONS BY NPS SUBSCRIBERS
As per Chapter VI, Sec 20 (2b) of the PFRDA act, 2013 it has been provided that withdrawals, not exceeding twenty-five percent (25%) of the contribution made by the subscriber, may be permitted from the individual pension account subject to the conditions, such as purpose, frequency and limits as may be specified by the regulations. As the decision in this regard has to form part of the regulations to be made
under Sec 52 of PFRDA Act, we need to arrive at a decision on the matter purpose, frequency and limits of such withdrawals which would be allowed.

Posts examining the various aspects of the probable needs and duration, following aspects have been proposed in respect of the aforesaid guidelines:

(a) Purpose:

This withdrawal may be treated as partial withdrawal and whereby the subscriber can withdraw not exceeding twenty-five percent (25%) of the contribution made by the subscriber, may be permitted from the individual pension account for any of the following purposes only:

i) For Higher education of his/her children including a legally adopted child.

ii) For the marriage of his/her children, including a legally adopted child.

iii) For the purchase/construction of residential house or flat. However, if the subscriber already owns a residential house or flat, the same is not allowed as a ground for the withdrawal.

iv) Treatment for prescribed illnesses – suffered by subscriber or his legally wedded spouse and children. For this purpose, the prescribed illness referred above consists of hospitalization and treatment for the following diseases/illnesses:

1. Cancer
2. Kidney Failure (End Stage Renal Failure)
3. Primary Pulmonary Arterial Hypertension
4. Multiple Sclerosis
5. Major Organ Transplant
6. Coronary Artery Bypass Graft
7. Aorta Graft Surgery
8. Heart Valve Surgery
9. Stroke
10. Myocardial Infarction (First Heart Attack)
11. Coma
12. Total blindness
13. Paralysis

b) Limits:

It has been proposed that there should be limitation on eligibility as well as the maximum limit for each withdrawal that can be permitted till the person stays invested in National Pension System. We propose the following eligibility criteria and limit for availing the benefit:

1. The subscriber should have been in NPS for at least ten years and contributing to the scheme.
2. Subscriber can withdraw accumulations not exceeding twenty-five percent (25%) of the contributions made by him and standing to his credit in his NPS account, as on the date of application for withdrawal.

c) Frequency:
It is recommended that the subscriber may be allowed to withdraw at the most three (3) times from the scheme during the tenure and should have a gap of at least 5 years before availing the withdrawal facility for the next time. However, the mandatory requirement of 5 years gap between two successive permitted withdrawals would not be applicable in case of “treatment for above prescribed illnesses”.

We are proposing the above frequency in order to make sure that the subscriber should be left with a decent and considerable accumulated pension wealth at the time of superannuation/age of 60 years enabling him to purchase sustainable annuity.

The request for withdrawal should be sent along with relevant document through the Nodal Office/POP/Aggregator to Central Record Keeping Agency for processing of the withdrawal claim.

Source:  www.pfrda.org.in

[http://www.pfrda.org.in/writereaddata/linkimages/Exposure%20Draft%20withdrawal.pdf]

Filed Under: Employees News, Latest News, Pension Tagged With: Central Government Employees News, Central Government News, Central Government Staff, National Pension System, New Pension Scheme, NPS Subscribers, Swavalamban

Reader Interactions

Comments

  1. Anuj Sharma says

    January 20, 2014 at 11:07 pm

    Employee ke liye good news .

    Reply
  2. Bonam Venky says

    April 1, 2014 at 5:46 pm

    As your propose "The subsciber should have been at least ten years contribution in NPS to partial withdrawl of 25% amount ''…is very difficult eligibility criteria… so it may be proposed five years contribution instead of ten years and 50% amount instead of 25%.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Latest DoPT Orders 2025


CENTRAL GOVT HOLIDAY LIST 2025

Indian Railway Holiday List 2025 PDF | Postal Holidays List 2025 India Post | Bank Holidays List 2025 India | LIC Office Holiday List 2025 PDF Download | EPFO Holiday List 2025 PDF Download | ESIC Holiday List 2025 PDF Download | CGHS Holiday Calendar List 2025 | Post Office Holidays 2025 | Railway Holidays CG Office Holidays 2025 | TN Govt Holidays 2025 | KVS Holiday List 2023-2025 PDF

Primary Sidebar

Important Central Government Employees Orders

  • MACP Scheme
  • 7th Pay Commission Revised Pay Matrix Table for Central Government Employees – Pay Matrix Level 12
  • Latest CSD Canteen Price List
  • CSD Latest Price List of Samsung Electronics items
  • Latest CSD Military Canteen Products List
  • CSD - Eligibility to buy cars
  • FAQ - Central Government Employees - CCS
  • FAQ - Indian Air Force Pensioners
  • FAQ - About NPS

Archives – CG News

7th CPC DA Arrears Ready Reckoner Tables for all Level

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-1 (GP 1800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-2 (GP 1900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-3 (GP 2000)

  • 7th CPC DA DA Arrears Ready Reckoner Tables for Level-4 (GP 2400)

  • 7th CPC DA DA Arrears Ready Reckoner Tables for Level-5 (GP 2800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-6 (GP 4200)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-7 (GP 4600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-8 (GP 4800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-9 (GP 5400)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-10 (GP 5400)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-11 (GP 6600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-12 (GP 7600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-13 (GP 8900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-13A (GP 8900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-14 (GP 10000)

Pay Matrix Table for Air Force PBORs

7th Pay Commission Option Form Ready Reckoner For All Grade pay

Follow us on : facebook-central-government-news twitter-central-government-news pinterest-central-government-news

Categories

  • 6CPC (176)
  • 7CPC (2,062)
  • 8th Pay Commission (21)
  • Additional DA (5)
  • AICPIN (165)
  • Allowance (379)
  • Bonus (246)
  • BSNL (98)
  • CCS (199)
  • Central Government Jobs (180)
  • Central Govt Holiday Homes (6)
  • CGDA (124)
  • CGHS (492)
  • CPSE (74)
  • CSD (73)
  • CSS (116)
  • DA Over 50% (124)
  • Dearness Allowance (733)
  • Dearness Relief (104)
  • Defence (650)
  • Directorate of Estates (65)
  • DOPT Orders (1,537)
  • ECHS (20)
  • Employees News (2,505)
  • EPFO (227)
  • ESIC (30)
  • Expected DA (428)
  • expected da january 2020 (9)
  • Fin Min Order (5)
  • General news (2,012)
  • GFR (2)
  • GST (49)
  • Holidays (208)
  • HRA (89)
  • Income Tax (242)
  • IT Exemption (90)
  • KV School (314)
  • Latest News (1,311)
  • LDC-UDC (73)
  • Leave Rules (20)
  • Loan (16)
  • Lok Sabha Elections 2019 (15)
  • LTC (235)
  • MACP (262)
  • Maternity Leave (10)
  • NPS (126)
  • OROP (167)
  • Pension (1,349)
  • Postal Department (547)
  • Promotion (215)
  • Railways (1,668)
  • Rank Pay (57)
  • Reservation (109)
  • Retirement Age (187)
  • TDS (2)
  • Uncategorized (1)
  • Wages (1)

Recent Comments

  • JOHN M.S. on Government approves 8th pay commission for central government employees
  • Gouranga Sarkar on Extending the benefit of financial upgradation under MACPS to Railway School Teachers
  • Naresh Choudhary on Admissibility to travel by Vande Bharat Express and Humsafar Express Trains on Official Tour – DoE
  • Dr Ayyagari Prabhakara Rao on Steps to complete the pension case as prescribed in in CCS Pension Rules, 1972
  • PUSHPARAJAN N on Confederation – Request for Constitution of 8th CPC for Central Government employees and pensioners

Footer

Central Government Orders | Central Government Latest  News | Central Government Employees News | Central Government News | Central Govt Employees News | central government employees news latest update | expected pay central govt employees | latest news macp central govt employees | Central govt employees news 7th pay commission

7th CPC | CGDA | CGHS | CPSE | CSD | CSS | Dearness Allowance | Dearness Relief | Defence | DOPT Orders |
EPFO | ESIC | Expected DA | GST | Holidays | HRA | Income Tax | KVS | Leave Rules | LTC | MACP |
Maternity Leave | NPS | OROP | Pension | Postal Department | Promotion | Railways | Rank Pay | Reservation | Retirement Age

 

Latest Central Government Orders

Copyright © 2025 · Magazine Pro on Genesis Framework · WordPress · Log in