Coronavirus: You can withdraw from your pension if you’re in hardship – NPRA

The National Pensions Regulatory Authority (NPRA) has issued guidelines for persons who will want to withdraw some funds from a provident fund or personal personal scheme before their retirement age due to the hardship COVID-19 has brought on them.

According to the Authority anyone who wants to withdraw from provident fund schemes as a result of lose of job due to COVID-19 can withdraw only 15 per cent of total accrued benefits.

However, members of personal pension schemes can withdraw all the amounts in their savings accounts.