NPS New Rule: These Subscribers May be Able to Withdraw the Entire Contribution Soon
In a bid to provide relief to thousand of pensioners amid the second wave of coronavirus pandemic, the regulatory body may soon allow the retired people to withdraw their entire lifetime contributions. National Pension System subscribers will soon be permitted to withdraw their entire money at one go if pension corpus is up to Rs 5 lakh, news agency IANS reported. NPS Account Opening for New Subscribers The pension regulator has recently permitted Points of Presence and Central Record Keeping Agencies to on board new subscribers through the paper-less digital process. The NPS accounts opened digitally in CRA platform including eNPS, the soft copies of NPS subscribers’ applications will continue to be generated by CRAs. “For NPS accounts opened through POP, whether through digital, physical or net-banking mode, the soft copies of NPS applications shall be generated by CRAs, capturing all information about the subscribers as may be specified by PFRDA, which shall be furnished electronically by POPs to CRAs.
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