Section 8(2) in The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015
(2)A subscriber having a valid and active Tier-II account of the Permanent Retirement Account can withdraw the accumulated wealth either in fill or part, at any time by applying for such withdrawal, on such application form and in such mode and manner as may be specified by the Authority in this behalf. There shall be no limit on such withdrawals till the account has sufficient amount of accumulated pension wealth to take care of the applicable charges and the withdrawal amount:Provided that the Tier-II account shall stand automatically closed at the time of exit of the subscriber from the National Pension System, even if an application so specified for the purpose has not been received from the subscriber and the accumulated wealth in such account shall be transferred to the bank account provided by the subscriber while submitting his application for exit from the National Pension System].
