#NRImoneyclinic #NPS #NationalPensionScheme

WHEN CAN YOU WITHDRAW FROM NPS ?

A. At Maturity

Plan Reaches Maturity At Age 60
Minimum 40% Of Corpus Should Be Converted To Pension
Balance 60% Can Be Withdrawn As Lump Sum
Total Maturity Amount If Less Than 2 Lakhs, Can Fully Withdraw
You Can Extend Maturity Up To Age 70
You Can Continue To Contribute Up To 70 Years

WHEN CAN YOU WITHDRAW FROM NPS ?

B. Before Age 60 – Premature Withdrawal

Should Have Completed At Least 10 Years
80% Of Amount Should Be Used For purchase Of Annuity
If Total Is Less Than 1 Lakh, Can Withdraw Full Amount
Relaxation Available In The Event Of Disability

WHEN CAN YOU WITHDRAW FROM NPS ?

C. In The Event Of Death Of Subscriber

Full Amount Will Be Paid To Nominee

WHEN CAN YOU WITHDRAW FROM NPS ?

D. Can A Partial Withdrawal Be Made ?

YES- Max 25% Of Your Own Contribution
Maximum Three Times During Plan Term
Conditions:
After minimum 3 years Contributions
Proper Reason Required

Acceptable Proper Reason For Partial Withdrawal
Children’s Education
Children’s Marriage
Purchase Of House
Treatment Of Critical Illness
For Skill Development
To Fund A Startup

TAX EXEMPTIONS AT MATURITY

All Partial Withdrawals 100% Tax Free
Lump Sum Withdrawal Of 60% At Maturity 100% Tax Free
Lump Sum 40% Used For Buying Annuity 100% Tax Free
Annuity Cash Flows – Taxed At Marginal Rate Of Income Tax