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Aditya Birla Sun Life Pension Management Ltd.

Aditya Birla Group

NPS subscriber has various withdrawal options.

Withdrawal from NPS Tier I Account

  • Atleast 40% of the fund value (corpus) in NPS Tier I account on the date of retirement must be mandatorily utilised to purchase an annuity. The amount utilised for purchase of annuity is fully exempted from tax.
  • The subscribers have an option to defer the purchase of an annuity for a period of 3 years.
  • The Subscribers can withdraw upto 60% of the corpus as lumpsum. The lumpsum withdrawal amount is exempted from tax.
  • The subscriber can defer the withdrawal of the lumpsum amount and continue to stay invested in NPS upto 75 years
  • The subscriber is also permitted to withdraw lumpsum in 10 instalments. The annuity must be purchased before opting for phased withdrawal
  • If the corpus in the subscriber’s account is equal to or less than ₹ 5 Lakh, subscriber can withdraw the full amount.
  • The maximum amount of withdrawal cannot exceed 25% of the value of subscriber contribution.
  • The subscribers are eligible for partial withdrawal only after three years of participation in NPS from the date of opening the account.
  • The subscriber is entitled to partial withdrawals a maximum of three times during the tenure of the NPS account.
  • Partial withdrawal is permitted for specific purposes. Among these are included
    • Higher education
    • Marriage of children
    • Purchase/construction of residential houses, etc.
    • Medical expense
    • Expense toward establishment of own business venture, etc.

Withdrawal from NPS Tier II Account