Conditions in withdrawal Partial National Pension System (NPS)

NPS Partial withdrawal Conditions

What are the conditions under which partial withdrawal can happen?

Conditions:Conditions:

1. NPS subscriber for atleast 3 years.

2. Withdrawal is allowed for some specific purposes only.

a) For the higher education of children

b) For the marriage of children

c) For the purchase/construction of residential house or flat in his or her own name or in a joint name with his or her legally wedded spouse. In case, the subscriber already owns either individually or in the joint name a residential house or flat, other than ancestral property, no withdrawal under these regulations shall be permitted.

d) Treatment for prescribed illnesses — suffered by subscriber, his legally wedded spouse, children including a legally adopted child and dependent parents.

Prescribed illnesses includes:

(i) Cancer;

(ii) Kidney Failure (End Stage Renal Failure);

(iii) Primary Pulmonary Arterial Hypertension;

(iv) Multiple Sclerosis;

(v) Major Organ Transplant;

(vi) Coronary Artery Bypass Graft;

(vii) Aorta Graft Surgery;

(viii) Heart Valve Surgery;

(ix) Stroke;

(x) Myocardial Infarction

(xi) Coma;

(xii) Total blindness;

(xiii) Paralysis;

(xiv) Accident of serious/ life threatening nature.

(xv) Any other critical illness of a life threatening nature as stipulated in the circulars, guidelines or notifications issued by the Authority from time to time.

SOURCE: http://govtstaffnews.in