Exists & Withdrawals under the National Pension System (Sixth Amendment) Regulations, 2019

PFRDA : (Exists & Withdrawals under the National Pension System) (Sixth Amendment) Regulations, 2019 

(I). Second and Third proviso to Sub regulation (b) of Regulation 5 shall be substituted as below-

Provided further that, where the accumulated pension wealth does not exceed one lakh rupees or a limit to be specified by the Authority, the whole pension wealth shall be paid without annuitisation to the subscribers who have not availed any Swavalamban co-contribution, and also to the subscribers who though have availed Swavalamban co-contribution but are not eligible for auto migration to Atal Pension Yojana, after deducting the Government’s co-contribution with returns thereon without requiring them to continue in the scheme for minimum period of twenty-five years.

Explanation— The migration of a Swavalamban subscriber to any other pension scheme of Government of India, including Atal Pension Yojana, as approved by the Authority, shall not be deemed as an exit and withdrawal for the purposes of these regulations.

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