• These amendments, primarily targeting the Non-government sector (All Citizen Model and Corporate Sector), are now applied uniformly to Common Schemes (CS) and the Multiple Scheme Framework (MSF), while also streamlining certain provisions for government subscribers.

Key Changes Under Revised Regulations:
Removal of Lock-in Period: For all citizen models (including CS and MSF), PFRDA has now removed the mandatory 5-year lock-in period, a minimum subscription time period before becoming eligible for premature exit.
Change in Vesting Period: For the All Citizen Model, the vesting period, the minimum subscription duration required to qualify for a normal exit, is 15 years or until the subscriber reaches 60 years of age, whichever comes first.
Lump sum and Annuity: For both the All Citizen Model and the Corporate Sector (CS & MSF), subscribers can withdraw up to 80% of their corpus as a lump sum (from previous 60%), while the remaining minimum 20% must be used to purchase an annuity.
Maximum Age to Stay in NPS: PFRDA has also increased the maximum age limit to stay in NPS from existing 75 years to 85 years, and has also clarified that this new age limit is applicable to both non-government and government subscribers.
Automatic Continuation: The requirement of 15-day prior intimation has been removed across all sectors, allowing subscribers to continue seamlessly under NPS without additional formalities.
Withdrawal Limit:

• Before 60 years/superannuation (whichever is later): Up to 4 withdrawals allowed, with a minimum gap of 4 years between two withdrawals.
• After 60 years/superannuation (whichever is later): No limit on frequency, subject to a minimum interval of 3 years between withdrawals.