Government has restored the new pension system of employees, know what will be the benefit?

New Pension Restored: There is big news for the central and state government employees. The government has restored the rules related to the New Pension System (NPS). Now, from January 1, 2023, central and state government employees linked to the New Pension System (NPS) will have to request for partial withdrawal from their NPS corpus only through their respective nodal offices. Due to this, it will be necessary for the employees to contact the nodal officers to withdraw their pension. Whereas during Kovid the employees themselves could appeal for it.

The Pension Fund Regulatory and Development Authority (PFRDA) relaxed the rules during the Covid pandemic and allowed self-declaration withdrawals under NPS. The regulator said in a circular that the matter has been looked into with the resolution of the problem related to the Covid pandemic. Considering everything, it has been decided that it will be mandatory for the public sector stakeholders to send their requests through the concerned nodal offices. There was a lot of profit during the restrictions imposed. But now the old rule has been restored by the government.