A. Partial Withdrawal

Subscriber can withdraw up to 25% of the contribution deposited. In the entire life span, up to 3 withdrawals can be made – the first withdrawal can be exercised after 3 years of account opening. 2nd and 3rd withdrawals can be exercised any time after the previous withdrawal.

The partial withdrawal can opt for the specified reason such as higher education, marriage of children, construction of house, establishing own venture, skill development, medical and incidental expenses arising out of the disability or incapacitation suffered by the subscriber or treatment of specified illness.

B. Exit.

i. On attaining 60 years of age:

• Subscriber can withdraw 60% of the total accumulated amount as a lump sum which is completely tax free.
• At least 40% of the accumulated pension corpus will be utilised to purchase an annuity through which subscriber will get the monthly pension.
• In case, the total pension amount is less than or equal to Rs.5,00,000 on the date of retirement; subscriber can withdraw the entire amount as a lump sum.

ii. Before 60 years of age:

• Subscriber can withdraw 20% of the total accumulated amount as a lump sum.
• At least 80% of the accumulated pension wealth will be utilised to purchase an annuity through which subscriber will get the monthly pension.
• In case, the total pension amount is less than or equal to Rs.2,50,000 on the date of exit; subscriber can withdraw the entire amount as a lump sum.

iii. Death

• In case of unfortunate death of subscriber, the accumulated corpus will be given to the nominee.