PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
No. PFRDA/2020/7/REG-EXIT/1 Date: 09.04.2020
All Stakeholders and subscribers under National Pension System (NPS).
Sub: Permission of partial withdrawals towards treatment of specified illnesss.
In connection of the circular no. PFRDA/2018/47/Reg-Exit/4 dated 24.05.2018, issued on the applicability & handling of partial withdrawals, authority is issuing this circular referring the term of sub-regulation 8(1)(A)(d)(xv) of PFRDA(Exits and withdrawals under NPS) Regulations, 2015 and amendments thereunder, prescribes that-
(a) In view of the decision of the Government of India, which has declared COVID-19 as a pandemic, it has been decided to declare “COVID-19” as a critical illness which is life-threatening in nature.
Hence, in view of the above, the partial withdrawals shall be permitted to fulfil financial needs of the subscribers, if required to him/her against the request placed for partial withdrawals towards treatment of illness of subscribers, his legally wedded spouse, children, including a legally adopted child or dependent parents as mentioned in regulation 8(1)(A)(d) of the said regulations.
(b) The other terms and conditions as prescribed under regulation 8 of the PFRDA(Exits and withdrawals under NPS) Regulations, 2015 and amendments thereto shall continue to be applicable regarding defining of limits and frequencies.
The Nodal Office/PoPs/Aggregators would ensure that the subscriber has provided the following document before authorising partial withdrawals:-
(1) Medical Certificate
(2) Format request for partial withdrawal.
Vikas Kumar Singh