Exit & Withdrawal
Exit & Withdrawal
Partial Withdrawal Conditions (For Tier I Account)
- After 3 years of opening an NPS account, subscribers can make partial withdrawals for specific emergencies like buying house, higher education or marriage of children, treatment of critical illness for self, spouse or parents, etc.
- The limit for partial withdrawals is restricted up to 25% of the self-contributed amount to date.
- A maximum of three partial withdrawals are allowed.
Exit on Superannuation/Maturity
Subscribers can withdraw up to 60% of accumulated pension corpus as lumpsum or withdraw it in phases through the Systematic Lump Sum Withdrawal (SLW) facility on a periodical basis viz. monthly, quarterly, half-yearly or annually for a period till 75 years of age as per the choice opted at the time of normal exit.
Balance 40% of the accumulated pension corpus has to be mandatorily utilised towards annuity purchase.
If the accumulated pension corpus is less than or equal to ₹ 5 lakh, the subscriber can withdraw the entire amount as lumpsum.
Exit From NPS Before Superannuation
Subscribers can withdraw up to 20% of accumulated pension corpus as lumpsum.
Balance 80% of the accumulated pension corpus has to be mandatorily utilised towards annuity purchase.
If the accumulated pension corpus is less than or equal to ₹ 2.5 lakh, the subscriber can withdraw the entire amount as lumpsum.
Exit due to death
In case of death of the subscriber during investment tenure, nominee(s) or legal heir(s) can withdraw the entire accumulated corpus.
In the case of death of a government subscriber, 80% of the accumulated pension corpus has to be mandatorily utilised towards the default annuity plan purchased for dependents -spouse, mother, or father (in respective order) and balance has to be paid to the nominees. If no dependents, the amount is returned to nominee(s) or legal heir(s). But if the accumulated corpus is less than or equal to ₹ 5 lakh, the entire accumulated corpus is paid to the nominee(s) or legal heir(s).
Pension Projector