New Delhi, Dec. 20 -- The Pension Fund Regulatory and Development Authority (PFRDA) has changed the rules for how people can take money out of their National Pension System (NPS) accounts. These updates apply to the PFRDA (Exits and Withdrawals under the National Pension System) Regulations, 2015. The main goal of these changes is to help people manage their money better for when they retire.

According to a press release from the Ministry of Finance, these new rules focus mostly on people who do not work for the government. This includes people in the corporate sector and those in the "All Citizen Model." The changes work the same way for different types of pension plans. The PFRDA also simplified some rules for government workers. These...