Pension regulator Pension Fund Regulatory and Development Authority, PFRDA has sought tax parity for National Pension System, NPS with that of Employees Provident Fund and Public Provident Fund, particularly with respect of lumpsum withdrawal of fund up to 60 per cent on superannuation. <br/><br/>The PFRDA, which regulates NPS, has asked the government to include this tax parity in the forthcoming Budget. Addressing a CII event in Mumbai, PFRDA whole-time member (economics) B S Bhandari said, they are asking for parity with other competing products like Employees Provident Fund, EPF and Public Provident Fund, PPF, where total tax exemption is available for withdrawal amount at time of superannuation. <br/><br/>At present, NPS beneficiaries are allowed to withdraw only 40 per cent of the total fund on superannuation without tax. Another 20 per cent can be withdrawn by paying tax, while the remaining 40 per cent can be invested in annuities.