New NPS partial withdrawal rule: All you need to know

PFRDA allows subscribers to make partial withdrawals from National Pension System for specific purposes

Subscribers can make partial withdrawals for:
- Children's higher education- Marriage of the subscriber's children
- ⁠Purchase or construction of a residential property in the subscriber's name or in joint name with spouse
- ⁠Treatment of specified illnesses
- ⁠Medical & incidental expenses arising from disability or incapacitation suffered by subscriber
- ⁠Expenses incurred by the subscriber for skill development/re-skilling 
- ⁠Expenses incurred by subscriber for establishment of her/his own venture or any start-ups

Eligibility criteria for partial withdrawal: 
- Subscriber should have been NPS member for at least 3 years from the date of joining 
- ⁠Partial withdrawal amount should not exceed 25% of subscriber's total contributions in their individual pension account
- ⁠Returns generated on contributions shall not be eligible for partial withdrawal
- ⁠A subscriber is allowed to make a maximum of 3 partial withdrawals during their entire subscription tenure under NPS