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[Cites 0, Cited by 0] [Section 2(1)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(1)(k) in The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015

(k)[ "Exit" for the purpose of this regulation shall mean closure of individual pension account of the subscriber under National Pension System, upon and on the date of happening of any of the following events, as may be applicable: [Added by Notification No. PFRDA/12/RGL/139/8, dated 10.8.2017 (w.e.f. 11.5.2015)]
(i)a subscriber having superannuated/retired from employment, as per the terms of such employment;
(ii)[ a subscriber having attained the age of sixty years and where so specifically permitted has not exercised a choice in writing to continue to remain subscribed to such system till such further period as is permissible, with or without making contributions or in respect of a subscriber who has joined National Pension System after attaining the age of sixty years (but before attaining sixty five years of age) upon attaining the maximum age permitted to be subscriber to such scheme or any date prior thereto, based on the specific request for closure received from subscriber;]
(iii)[ death of the subscriber before attaining the age of superannuation or the age of sixty years, or in cases where an option has been exercised by subscriber to continue to remain subscriber to a certain permissible time period, death before expiry of such period or death of a subscriber who has joined National Pension System after attaining the age of sixty years (but before attaining sixty five years of age) at any time prior to attaining the maximum age permitted to be subscribed to such scheme;] [Substituted by Notification No. PFRDA/12/RGL/139/8, dated 6.10.2017 (w.e.f. 11.5.2015)]
(iv)voluntary closure of the account by the subscriber, in cases where so permitted and on the date on which such closure is effected in the system;