Are you planning to withdraw your pension? Understanding the process, eligibility, and tax implications can save you time and ensure you receive your benefits without hassle. At TaxPro Experts, we guide you through the pension withdrawal process, making it simple and stress-free.
Pension withdrawal refers to the process of withdrawing the funds accumulated in a pension scheme after retirement or under certain conditions. Various pension schemes like EPF (Employees’ Provident Fund), NPS (National Pension System), and others provide benefits that can be withdrawn as per government rules.
Eligible after retirement or as per the specified age.
Requires no more than X number of years in service (as per specific plans).
Allows withdrawal of a part of the pension fund before retirement under certain conditions like medical emergencies or personal needs.
we at tax pro experts go through our client’s needs and situation. we provide you:
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EPF Pension: Can be fully withdrawn at the age of 58, with a part available for withdrawal earlier under specific conditions.
NPS Withdrawal: A portion of the pension corpus can be withdrawn, and the remaining must be used to purchase an annuity.