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Latest about Bank updates, Bank wage revision news, Bank Exams, Financial results, Loan and Deposit rates in India. GOOD NEWS FOR THE NPS SUBSCRIBERS! WITHDRAWAL NORMS CHANGED; HERE’S ALL YOU NEED TO KNOW. Good news for the NPS subscribers. The Pension Fund Regulatory and Development Authority (PFRDA) has recently changed the withdrawal norms for the NPS (National Pension System). Keeping in view the possibility of sudden financial needs of the subscribers, the requirement of minimum period under NPS for availing the facility of partial withdrawal from the mandatory Tier-I account of the subscriber has been reduced from 10 years to 3 years from the date of joining, w.e.f. 10th August, 2017. The minimum gap of 5 years between the two partial withdrawals has also been removed w.e.f. 10th August, 2017. A subscriber is eligible for three partial withdrawals during the period of subscription under NPS, each withdrawal not exceeding 25% of the contributions made by the subscriber and excluding contributions made by the employer. There is, however, no restriction on withdrawals from the Tier-II account of The extent and purpose for which partial withdrawals from the Tier-I account under NPS are permissible are as under: # For higher education and marriage of his or her children, including a legally-adopted child. # For the purchase or construction of a residential house or flat in his or her own name or in a joint name with his or her legally wedded spouse. In case the subscriber already owns either individually or in the joint name a residential house or flat, other than ancestral property, no withdrawal under these regulations shall be permitted. # For treatment of specified illnesses: If the subscriber, his legally wedded spouse, children, including a legally adopted child or dependent parents suffer from any specified illness, which shall comprise of hospitalization and treatment in respect of the following diseases: (b) Kidney Failure (End Stage Renal Failure); (c) Primary Pulmonary Arterial Hypertension;