National Pension System (NPS) is a government-backed, market-linked retirement savings scheme in India, regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

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The scheme is broadly categorized into two sectors: government and private.

NPS account holders can choose from a mix of equity, corporate bonds, and government securities for their retirement portfolio.

The NPS aims to provide financial security post-retirement by promoting systematic savings during an individual's working years.

This scheme is open to all Indian citizens. NPS offers several benefits, including tax savings and a diversified investment portfolio.

Rules and regulations regarding loans and withdrawals in NPS.

1. Can subscribers avail a loan against their NPS account?
No, NPS subscribers cannot avail a loan against their NPS account, as per the NPS' official website. However, subscribers may opt for partial withdrawals from their account, subject to certain conditions.

2. Can subscribers opt for withdrawals during their service period?
Yes, partial withdrawal facilities are available for NPS subscribers, allowing them to withdraw a certain amount from their contributions under specific conditions.

3. Conditions for availing partial withdrawal
The subscriber must have been in NPS for at least three years from the date of joining (for government and corporate subscribers) or the date of PRAN generation (for the 'All Citizens' sector).
   - Subscribers are allowed to withdraw a maximum of three times during the entire tenure of their subscription.
   - The withdrawal amount must not exceed 25 per cent of the subscriber's contributions.

4. Reasons for availing partial withdrawal
   - Higher education of children.
   - Marriage of children.
   - Purchase or construction of a residential house.
   - Treatment of specified illnesses for the subscriber, spouse, or children.
   - To meet medical and incidental expenses arising out of disability or incapacitation suffered by the subscriber.
   - Skill development, re-skilling, or any other self-development activities.
   - Establishment of an own venture or start-up (only for 'All Citizens' sector subscribers).

5. What tax benefits are available in case of partial withdrawal?
The amount received by employees under the NPS is tax-exempt.