Business News Desk, Are you also taking advantage of the National Pension System? Have you also invested money in NPS? If yes, then from April 1, 2023, there is going to be a big change in the rules of NPS. PFRDA has informed about this. PFRDA has told that there is going to be a change in the rules for withdrawing money from the National Pension System Scheme.
New rules will be applicable from April 1
The new rules will come into effect from 1 April. Let us tell you that under the new rules some documents will have to be given. If a subscriber does not submit these documents then he will not be able to withdraw his money from NPS.
These instructions have been given to the officers
According to the circular issued by PFRDA, it will be necessary for the subscribers to provide these documents for KYC update. PFRDA has directed all the nodal officers to ensure that the documents of the subscribers are compulsorily uploaded. If any mistake is found in these documents, then the money of the NPS subscriber will be stopped.
As per the government circular, the NPS subscriber has to submit the following documents-
>> NPS Exit/Withdrawal Form
>> ID & Address Proof
>> Bank Account Proof
>> pran card copy
Partial withdrawal can be done only 3 times
With NPS, you can withdraw money before maturity for higher education of children, their marriage, construction or purchase of house and treatment of serious diseases. An investor in NPS can make partial withdrawals only 3 times during the entire tenure.