Psu

Pension Fund Regulatory to make big change in withdrawal Scheme

  • by Psu Connect
  • Date: 17-06-23
Pension Fund Regulatory to make big change in withdrawal Scheme

New Delhi: The statutory body, Pension Fund Regulatory and Development Authority (PFRDA) is going to introduce a plan during the second half of the financial year 23-24.

According to the reports it is mentioned that the plan will allow National Pension Scheme (NPS) subscribers to withdraw 60% of the accumulated corpus in a systematic manner.

Currently, the system gives a one-time withdrawal.

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“We are planning to introduce systematic withdrawal plan from the second half of this year. The amount can be fixed by the subscriber any number of times and it can be withdrawn in lumpsum or in monthly, quarterly, half yearly or annually basis. It is applicable to those in the age group of 60 to75.” said Deepak Mohanty, chairperson, PFRDA.

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