Par­tial With­drawal Made Easy

Business Today - - IMPACT SNIPPETS -

The Pen­sion Fund Reg­u­la­tory De­vel­op­ment Author­ity (PFRDA) has re­laxed the norms to al­low par­tial with­drawals from NPS ac­counts. “Par­tial with­drawals will now be al­lowed to NPS sub­scribers who wish to im­prove their em­ploy­a­bil­ity or ac­quire new skills by pur­su­ing higher ed­u­ca­tion/ac­quir­ing pro­fes­sional and technical qual­i­fi­ca­tions,” PFRDA said in a state­ment. Its board has also cleared 25 per cent in­crease in the eq­uity in­vest­ment cap (from 50 to 75 per cent) for pri­vate sec­tor sub­scribers in the ac­tive choice cat­e­gory. How­ever, sub­scribers can only avail the op­tion un­til the age of 50.

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