The scheme provides structured withdrawal and exit options while ensuring long-term retirement income security. These provisions allow subscribers to access funds at various stages of the account lifecycle, subject to prescribed conditions and regulatory guidelines. 


Partial Withdrawal:


• Subscribers are allowed to withdraw after 3 years of account opening

• Up to 25% of Contributed amount can be withdrawn

• In the entire life span, 3 withdrawals are permitted


Partial Withdrawal:


• Subscribers are allowed to withdraw after 5 years of account opening

• Up to 20% of Corpus is allowed for withdrawal, however minimum 80% must be invested in Annuity

• Balance amount gets invested in annuity


Exit on Maturity Death Benefit:


• Exit at the age of 60 years is treated as exit on maturity*

• Up to 60% of Corpus is allowed for withdrawal

• Minimum 40% of Corpus to be invested in annuity


Death Benefit:


• Entire Corpus can be claimed by nominee / legal heir

• The corpus is completely tax free


SLW on Maturity:


• Upon maturity, Dual cash flow with lump sum withdrawal option

• Flexible withdrawal intervals: Choose monthly, quarterly, half-yearly, or annual withdrawals

• Option to choose Asset Class and pension fund manager during deferment as well


Frequently Asked Questions (FAQs):


1. What withdrawal and exit options are available under the scheme?

The scheme offers multiple withdrawal and exit options, including Partial Withdrawal, Premature Exit, Exit on Maturity, Death Benefit, and Systematic Lump Sum Withdrawal (SLW), designed to balance liquidity needs with long-term retirement income security.


2. When can a subscriber opt for Partial Withdrawal?

A subscriber can opt for Partial Withdrawal after completion of 3 years from the date of account opening, subject to prescribed conditions.


3. How much amount can be withdrawn under Partial Withdrawal?

Up to 25% of the total contributed amount can be withdrawn. A maximum of three partial withdrawals is allowed during the entire tenure of the account.


4. What is Premature Exit and when is it allowed?

Premature Exit is allowed after 5 years from account opening. Under this option:

  • Up to 20% of the total corpus can be withdrawn.
  • A minimum of 80% of the corpus must be invested in an annuity to ensure regular pension income.


5. What happens on Exit at Maturity?

Exit at the age of 60 years is treated as Exit on Maturity.

  • Up to 60% of the total corpus can be withdrawn as a lump sum.
  • At least 40% of the corpus must be invested in an annuity to receive a regular pension.


6. What are the benefits available in case of the subscriber’s death?

In the event of death:

  • The entire accumulated corpus is payable to the nominee or legal heir.
  • The amount received is completely tax-free, as per prevailing tax laws.


7. What is Systematic Lump Sum Withdrawal (SLW) on Maturity?

SLW allows subscribers to withdraw funds systematically after maturity while keeping the remaining corpus invested.


8. What withdrawal frequency options are available under SLW?

Subscribers can choose flexible withdrawal intervals, such as:

  • Monthly
  • Quarterly
  • Half-yearly
  • Annually


9. Can subscribers choose their asset allocation and pension fund manager during deferment?

Yes. During the deferment period, subscribers have the flexibility to choose the Asset Class and Pension Fund Manager, enabling better customization based on risk appetite and retirement planning needs.


10. How does the scheme ensure long-term retirement income security?

By mandating annuity investment at exit stages and offering structured withdrawal options, the scheme ensures a steady and sustainable retirement income while still providing liquidity when required.