Section 24(b) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
(b)For all group Unit Linked pension products with the defined contributions subscribed to by an employer, where the scheme maintains individual member accounts:(i)The insurer shall make payments from such individual member funds only subject to the availability of funds in the respective unit fund of the respective member of the group policyholder.(ii)Except for exits as per the scheme rules, no other withdrawals shall be allowed.
