Covid fallout: Govt allows partial withdrawal from NPS

New Delhi, April 10

The PFRDA today said NPS subscribers will now be allowed partial withdrawal for covering expenses related to treatment of Covid-19.

In a circular addressed to all stakeholders, the PFRDA said, “In view of the decision of the Government of India, which has declared Covid-19 as a pandemic, it has been decided to declare Covid-19 as a critical illness which is life threatening in nature.” The partial withdrawals shall be permitted to fulfil financial needs of the subscribers, if required to him/her against the request placed for partial withdrawals towards treatment of the illness of subscriber, his legally wedded spouse, children, including a legally adopted child or dependent parents, as per the regulations, the circular said. — PTI