{"id":194498,"date":"2018-03-28T15:31:45","date_gmt":"2018-03-28T10:01:45","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=194498"},"modified":"2018-03-28T15:31:45","modified_gmt":"2018-03-28T10:01:45","slug":"relaxation-of-norms-for-national-pension-scheme","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/03\/28\/relaxation-of-norms-for-national-pension-scheme\/","title":{"rendered":"Relaxation of Norms for National Pension Scheme"},"content":{"rendered":"<div>\n<p style=\"text-align: justify;\">The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:<\/p>\n<ul>\n<li style=\"text-align: justify;\"><strong>Partial withdrawal during the service<\/strong>: The Pension Fund Regulatory and Development Authority (PFRDA), with an objective to meet the subscriber\u2019s sudden financial requirement enrolled under NPS, has liberalized norms for partial withdrawals which also include reduction of requirement of minimum years of being enrolled under NPS from 10 years to 3 years from the date of joining. Suitable amendments were made through \u201cPension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017 and the same has been notified on 10.08.2017.<\/li>\n<li style=\"text-align: justify;\"><strong>Increase in the joining age under NPS<\/strong>: With an objective to allow individuals (under NPS-All Citizen Model and Corporate Sector Model) who are in the age bracket between 60 years and 65 years to join NPS system. Suitable amendments were made through \u201cPension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Second Amendment) Regulations, 2017 and the same has been notified on 06.10.2017.<\/li>\n<li style=\"text-align: justify;\"><strong>Exit in case of disability and incapacitation of the subscriber<\/strong>: With an objective of facilitating easy exit &amp; withdrawal in case of disability and incapacitation of the subscriber covered under NPS, PFRDA has made suitable amendments through \u201cPension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Third Amendment) Regulations, 2018 and the same has been notified on 02.02.2018.<\/li>\n<\/ul>\n<p style=\"text-align: right;\">Ministry of Finance<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as <\/p>\n","protected":false},"author":91,"featured_media":46431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[29667,29666],"class_list":["post-194498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business_news","category-news","tag-national-pension-scheme","tag-norms"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Relaxation of Norms for National Pension Scheme | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2018\/03\/28\/relaxation-of-norms-for-national-pension-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Relaxation of Norms for National Pension Scheme\" \/>\n<meta property=\"og:description\" content=\"The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. 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