NPS Withdrawal Rules: Do you want to withdraw your money from NPS? What are the rules regarding this?

NPS (National Pension System) is a special kind of scheme. Through this, you get the option of saving along with investment. Earlier, people used to invest in this scheme because they also got the benefit of tax benefits. But now people are moving towards the new tax regime. So now they want to withdraw their money from NPS.

But there are different rules for withdrawal from NPS, which are important for us to understand. Let's know.

NPS Withdrawal Rules: How much money can be withdrawn

Under NPS, you can withdraw money in three ways -
Some amount (Partial Withdrawal)

Premature Withdrawal

Normal Withdrawal

Partial Withdrawal - Under this, you can withdraw only 25 percent of the deposited amount. Under Partial Withdrawal, money can be withdrawn three times.

Premature Withdrawal - Under this, if the beneficiary is 60 years old, then they can withdraw up to 20 percent of the deposited money. Along with this, he will receive the remaining 80 percent of the money in the form of a pension. In this case, the deposit amount should be less than Rs 2,50,000.

Normal Withdrawal- If the beneficiary joins the scheme after the age of 60 years. With this, he completes 3 years. So in such a situation, he can withdraw up to 40 percent of the deposit amount. For this, the deposit amount should not be more than 5 lakhs.

What are the rules regarding withdrawal?

Partial Withdrawal- Withdrawal can be done only after three years.

Premature Withdrawal- Can be withdrawn after completion of 5 years or after completion of 3 years.

Normal Withdrawal- After three years, but the age should be 60 years.

Up to what age can one apply?

Under this scheme, investment can be made till 75 years. Before 75 years, the beneficiary can withdraw 60 percent of the deposit amount and the remaining 40 percent as pension.

Now, let's know the answers to some such questions, which often arise in the mind of investors.

Question and Answer

Question) Can I make a full withdrawal from NPS?

Answer) Yes, but the deposit amount should be 1 lakh or less.

Question) Can NPS money be transferred to another government scheme?

Answer) No

Question) I have not yet received money from the government. Can I withdraw in such a situation?

Answer) Yes, but the deposit amount should be 1 lakh or less.

Question) If a beneficiary dies before the age of 60, will there be a withdrawal in such a situation?

Answer) In such a situation, the beneficiary's money goes to the nominee. If there is no nominee, then it is given to a family member.

Question) When can I make the first withdrawal in Partial Withdrawal?

Answer) You can make the first withdrawal only after three years of investment. Under Partial Withdrawal, money can be withdrawn three times.

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