Question

What is the mandatory subscription period after which a non-government subscriber under NPS, can withdraw in case of voluntary retirement?

Q: Answer-What is the mandatory subscription period after which a non-government subscriber under NPS, can wit...

Non-Government Sector Pre-mature Exit applicable in case of voluntary closure of PRAN by the subscriber, subject to subscriber having been registered under NPS for 5 years. If the corpus on the date of initiation of the pre-mature exit request is equal to or less than 2.50 lakh, entire corpus can be withdrawn as lump sum. If the corpus on the date of initiation of the pre-mature exit request is higher than 2.5 lakh, at least 80 of the corpus has to be mandatorily utilized for purchase of Annuity providing periodical pension to the Subscriber. The balance corpus after utilization for purchase of annuity is payable as lump sum to the Subscriber.