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Pension Fund Regulatory and Development Authority (PFRDA) has permitted partial withdrawal under the National Pension System (NPS) for specified expenses such as purchase/construction of residential premises, higher education of children, and marriage of children and treatment of critical illness. This relaxation of partial withdrawal (up to 25%) is applicable only to those who have contributed for _____ years?
  • a)
    2
  • b)
    3
  • c)
    4
  • d)
    5
  • e)
    6
Correct answer is option 'B'. Can you explain this answer?
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Pension Fund Regulatory and Development Authority (PFRDA) has permitte...
Pension Fund Regulatory and Development Authority (PFRDA) has permitted partial withdrawal under the National Pension System (NPS) for specified expenses such as purchase/construction of residential premises, higher education of children, and marriage of children and treatment of critical illness. This relaxation of partial withdrawal (up to 25%) is applicable only to those who have contributed for three years. However, a subscriber fulfilling the above condition is permitted partial withdrawal only three times during the tenure of the subscription. This relaxation does not apply in case if a subscriber already owns a residential house or a flat (either individually or in the joint name), other than ancestral property. NPS is a government-sponsored pension scheme, which has been made available to all India citizens since 2009.
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Pension Fund Regulatory and Development Authority (PFRDA) has permitted partial withdrawal under the National Pension System (NPS) for specified expenses such as purchase/construction of residential premises, higher education of children, and marriage of children and treatment of critical illness. This relaxation of partial withdrawal (up to 25%) is applicable only to those who have contributed for _____ years?a)2b)3c)4d)5e)6Correct answer is option 'B'. Can you explain this answer?
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