Systematic withdrawal plans govern pension scheme exits, requiring minimum corpus allocation while permitting specified lump-sum withdrawals. Pre-retirement partial withdrawals are permitted after a five-year lock-in for specified purposes, subject to a limit based on the Subscriber's ... Summary
Systematic withdrawal plans govern pension scheme exits, requiring minimum corpus allocation while permitting specified lump-sum withdrawals.
Pre-retirement partial withdrawals are permitted after a five-year lock-in for specified purposes, subject to a limit based on the Subscriber's contribution; critical-illness withdrawals have no lock-in. Retirement, superannuation or vesting exits require a Systematic Withdrawal Plan after the applicable contribution period or age threshold. A minimum portion of the corpus must be used for the plan, with the balance payable as a lump sum, subject to a threshold-based full lump-sum exception. Early exits require a higher minimum allocation to the plan, while death benefits are fully payable to nominees or legal heirs.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.