Regulation, 2018

Text

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EXTRAORDINARY

PART III—Section 4

PUBLISHED BY AUTHORITY

No. 40] NEW DELHI, FRIDAY, FEBRUARY 2, 2018/MAGHA 13, 1939

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

NOTIFICATION

New Delhi, the 2nd February, 2018 Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Third Amendment) Regulations, 2018 No. PFRDA/12/RGL/139/8.— In exercise of the powers conferred by sub-section(1) of Section 52 read with sub-clause(g), (h), and (i) of sub-section 2 of Section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act No.23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority(Exits and Withdrawals under the National Pension System) Regulations, 2015 namely,-

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Third Amendment) Regulations, 2018.

2. These shall come into force on the date of their publication in the official gazette.

3. In the Pension Fund Regulatory and Development Authority(Exits and Withdrawals under the National Pension System) Regulations, 2015:- ( I ) . In regulation 3, in sub-regulation (a), new sub-regulation (vii) shall be added as follows:

(vii) provided that if the employer certifies that the subscriber has been discharged from the services of the concerned office on account of invalidation or disability, the exit shall be determined as specified under sub- ( II ) . In regulation 4, in sub-regulation (a), new sub-regulation (v) shall be added as follows:

(v) provided that a subscriber is physically incapacitated or has suffered a bodily disability leading to his incapability to continue with his individual pension account under National Pension System, the exit in such cases shall be determined as per the provisions of sub regulation (a) subject to the subscriber submitting a disability certificate from a Government surgeon or Doctor (treating such disability or invalidation of subscriber) stating the nature and extent of disability and also certifying that:

a. the affected subscriber shall not be in a position to perform his regular duties and there is a real possibility of the affected subscriber, being not able to work for the remaining period of his life.; and b. Percentage of disability is more than seventy five percent. in the opinion of such Government surgeon or doctor (treating such disability or invalidation of subscriber). ( III ) In regulation 5, in sub-regulation (a), new sub-clause (iii) shall be added as follows:

(iii) provided that a subscriber who is physically incapacitated or has suffered a bodily disability leading to his incapability to continue with his individual pension account under National Pension System, the exit in such cases shall be determined as per the provisions of sub-regulation (a) subject to the subscriber submitting a disability certificate from a Government surgeon or doctor (treating such disability or invalidation of subscriber) stating the nature and extent of disability and also certifying that: a. the affected subscriber shall not be in a position to perform his regular duties and there is a real possibility of the affected subscriber, being not able to work for the remaining period of his life.; and b. Percentage of disability is more than seventy-five percent. in the opinion of such Government surgeon or doctor (treating such disability or invalidation of subscriber). ( IV ). In regulation 8, in sub-regulation (1) (A), a new sub-clause (e) shall be added as follows: (e ) to meet medical and incidental expenses arising out of the disability or incapacitation suffered by the subscriber.

HEMANT G. CONTRACTOR, Chairperson Footnote:

1. The Principal Regulations ,The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) Regulations, 2015 were published in the Gazette of India on 11th May, 2015 vide No. PFRDA/12/ RGL/139/8.

2. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (First Amendment) Regulations, 2017 were published in the Gazette of India on 10 th August 2017 vide No. PFRDA/12/RGL/139/8

3. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (Second Amendment) Regulations, 2017 were published in the Gazette of India on 06 th October 2017 vide No. PFRDA/12/RGL/139/8 and Published by the Controller of Publications, Delhi-110054.

ALOK KUMAR

Provisions this regulation answers to

Read out of the instrument itself: an enabling provision is one it says it was made under, which is the power it rests on. The rest it names without resting on.

Other instruments under the same Act

All of the The Pension Fund Regulatory and Development Authority Act, 2013