The Pension Fund Regulatory and Development Authority (PFRDA), on December 15, 2025, issued the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2025, to further amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015.
The following amendments have been stated namely: -
• In regulation 1, para under sub-regulation (1), the words “and purchase an annuity thereupon” shall be deleted.
• In regulation 1, after sub-regulation (1), the following sub-regulation shall be inserted, namely: - “(1A) These regulations shall apply to exits and withdrawals from the pension schemes under the National Pension System.”
• In regulation 2, clause (c) shall be omitted.
• In regulation 2, after clause (f), the following clause shall be inserted namely: - “(fa) ‘Defer’ or ‘Deferment’ means the postponement of withdrawal of lump sum or purchase of annuity, as the case may be, by a subscriber;”
• In regulation 2, clause (i) shall be omitted.
[Notification No. PFRDA/16/14/06/0009/2018-REG-EXIT]
