The Pension Fund Regulatory and Development Authority (PFRDA) on Friday said that NPS account holders will be allowed partial removal of the Kovid-19’s expenses related to the expenditure. The PFRDA stated in a circular addressed to all shareholders and account holders under the National Pension Scheme (NPS) that in view of the decision of the Government of India, under which Kovid-19 has been declared an epidemic, Kovid-19’s decision to declare critical illness has been done, which is mortal.
PFRDA has stated in the circular that the account holders will be allowed partial withdrawal for the treatment of the disease. This permission will be given for the treatment of account holders, their spouse, children, and dependent parents if needed.
PFRDA has clarified that partial withdrawal facility will not be available to the account holders of Atal Pension Yojana (APY). PFRDA said that we want to clarify that at present there is no provision for partial withdrawal for account holders of APY.
NPS and APY are the two major pension schemes of PFRDA. The total number of account holders under NPS and APY was 3.46 crore as on 31 March. According to PFRDA data, out of this, the number of account holders of APY was 2.11 crore.