PFRDA allows subscribers lump sum withdrawal on exit

Stakeholders informed PFRDA that subscribers be given a specific option to defer or time the entire lump sum withdrawal at the time of exit. New Delhi: Pension fund regulator PFRDA has allowed investors in the New Pension Scheme to withdraw lump sum amount at the time of their exit, as against the current practice of ‘phased withdrawals’ every year. Stakeholders informed PFRDA that subscribers be given a specific option to defer or time the entire lump sum withdrawal at the time of exit from NPS. Under the Deferred withdrawal facility, the subscribers at the time of exit from NPS can exercise the option to defer withdrawal of eligible lump sum withdrawal and stay invested in the NPS, according to PFRDA.