The Pension Fund Regulatory and Development Authority on 28th December, 2021 has issued the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Second Amendment) Regulations, 2021. The amendment provides that subscriber shall have an option to exit from the National Pension System at any point of time and frequency by submitting a request to National Pension System Trust or any intermediary or entity authorized by the Authority for this purpose. In case of death of subscriber during the period of deferment, such deferred amount of the subscriber shall be paid in the preferential order of nominee.
