NPS account holder will be able to get rid of education and business for money

The decision to allow account holders to withdraw money has been taken in order to increase their qualifications.

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Account holders of National Pension System (NPS) can now withdraw money from their account for education and business. This announcement was made by the Pension Fund Regulatory and Development Authority (PFRDA) on Thursday. The PFRDA decided to allow the withdrawal of money from the account was taken in a meeting of the board held last week.

The decision to allow account holders to withdraw money has been taken in order to increase their qualifications. The PFRDA has issued an official statement and said, "At present, there are 2 crore 13 lakh account holders in the National Account System and Atal Pension Scheme and about Rs 2.38 lakh crore is deposited in their accounts."

These are the changes:

Account holders can withdraw money from their account for education or business. Also, if the account holder wants to start a new business then he can withdraw some part of his account for it.

- NPS account holders of Private Sector can put 75% of their investment in the active category in the equity segment. Earlier this limit was kept 50 percent.

The PFRDA Board has also accepted the proposal to convert 'grade A' from 'AA' to 'A'. A rating should not be more than 10 percent of the investment pension fund in the bond. Grade Rentings of the investment are also kept in the corporate bond of 'AA' pension fund.