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Partial Withdrawals in NPS Now Allowed for Subscribers for Setting up Business, Higher Education
May 08, 2018
The Pension Fund and Regulatory Development Authority (PFRDA) recently held a meeting during which it decided to allow the subscribers of the National Pension Scheme (NPS) to partially withdraw their funds for funding a business or for higher education.
PFRDA said that the NPS subscribers can avail partial withdrawals to “improve their employability or acquire new skills”. They are also granted partial withdrawals from their contributions if they wish to start a new business.
NPA is the top social security scheme provided by the government, right next to Atal Pension Yojana (APY). They currently have more than 2 crores subscribers combined.
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