NPS Pension Rules Undergo Major Overhaul: Millions to be Affected by New Withdrawal Norms

• A special committee formed by PFRDA is drafting new rules for NPS withdrawals and pension payments to protect subscriber interests.
• The committee, led by Dr. M.S. Sahoo, aims to provide stable and reliable guaranteed pensions under NPS, aligning with 'Self-Reliant India' vision.
• New guidelines will simplify fund transfers, secure market-determined pension payments, and clarify withdrawal limits during the NPS lock-in period.
• The committee will also focus on capital rules for risk reduction, tax regulations for pension sales, and robust customer protection measures.
• These changes are a crucial step to strengthen NPS, ensuring a secure and reliable income for millions during retirement.

Why It Matters: PFRDA is revamping NPS rules to ensure stable, reliable, and secure pension income for subscribers post-retirement.