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राष्ट्रीय निवृत्तीवेतन योजनेंतर्गत withdrawal(परतावा) संबधी FAQ (नियमित प्रश्नावली )
राष्ट्रीय निवृत्तीवेतन योजनेंतर्गत withdrawal(परतावा) संबधी FAQ (नियमित प्रश्नावली )
What types of Withdrawals are allowed under the National Pension System?
As per Pension Fund Regulatory & Development Authority (PFRDA) Exit Rules, following Withdrawal categories are allowed:
- Upon Normal Superannuation – At least 40% of the accumulated pension wealth of the Subscriber has to be utilized for purchase of annuity providing for monthly pension of the Subscriber and the balance is paid as lump sum to the subscriber.
In case the total corpus in the account is less than Rs. 2 Lakhs as on the Date of Retirement (Government sector)/attaining the age of 60 (Non-Government sector), the Subscriber (other than Swavalamban subscribers) can avail the option of complete Withdrawal. - Upon Death – The entire accumulated pension wealth (100%) would be paid to the nominee/legal heir of the Subscriber and there would not be any purchase of annuity/monthly pension.
- Exit from NPS Before the age of Normal Superannuation – At least 80% of the accumulated pension wealth of the Subscriber should be utilized for purchase of an annuity providing the monthly pension of the Subscriber and the balance is paid as a lump sum to the Subscriber.
Based on the different types of Withdrawal request, following forms are required to be submitted to the concerned Nodal Office
| Type of Withdrawal | Central / State Government | Corporate / All Citizens of India | Swavalamban Sector |
| (NPS-Lite) Sector Superannuation | 101-GS | 301 | 501 |
| Premature Exit | 102-GP | 302 | 502 |
| Death | 103-GD | 303 | 503 |
Withdrawal forms are available on the NSDL-CRA Corporate Website (http://www.npscra.nsdl.co.in). Subscriber can also send an e-mail to npsclaimassist@nsdl.co.in orinfo.cra@nsdl.co.in to get the Withdrawal forms on their e-mails.
For any superannuating Subscriber/attaining 60 years of age, CRA generates a Claim ID six months prior to the date of retirement or attaining 60 years of age. CRA intimates the generation of Claim ID to the subscriber / Nodal Office vide e-mails, letters, SMS. Nodal Office can also view the Claim IDs generated for underlying Subscribers at ‘Welcome Page’ in CRA site.
For Pre-mature Exit and Death cases, the Claim IDs will be generated by subscribers’ mapped Nodal Office or CRA when the Withdrawal request for the same is received.
If the Claim ID is not generated for a Subscriber even if the date of retirement is less than six months away, the concerned Nodal Office should update the correct retirement date in the CRA system.
PAO will perform verification checks, such as whether name is mentioned, photograph is attached, signature is present, other mandatory fields are properly filled, before accepting the form. In case the application form is not filled with all the required details, CRA- FC will not accept the registration form. CRA-FC will intimate the PAO regarding rejection of forms.
In order to generate Claim ID for Withdrawal of NPS funds in case of Pre-mature Exit, the Subscriber would have to contact the Nodal office for generation of Claim ID.
Subscriber can capture the online Withdrawal request six months in advance from the date of superannuation/ attaining the age of 60. Subscriber can submit the request by logging into the CRA website (www.cra-nsdl.com) under the menu 'Exit Withdrawal Request'.
No, the Withdrawal forms should be submitted to the associated Nodal Office for onward submission at CRA. Nodal Office should stamp and authorised the form after performing the necessary due diligence for the form and the supporting documents. The duly authorised forms and the documents can be then be forwarded to CRA for further processing.
A Non-IRA compliant Subscriber can submit the Withdrawal request at CRA. However, the Subscriber would also have to submit the Form - S1 (Subscriber Registration Form) alongwith his Withdrawal request.
In case of Pre-mature Exit, 100% is not allowed. However, in case of Superannuation, a Subscriber can claim 100% Withdrawal if the total accumulated corpus is less than Rs. 2,00,000 at the time of Superannuation/attaining age of 60 years.
Following documents are to be submitted alongwith the completely filled Withdrawal form for Superannuation & Pre-mature Exit at CRA:
- Covering Letter from the associated Nodal Office to be submitted alongwith the Withdrawal form
- Advanced stamped receipt needs to be duly filled and cross-signed on the Revenue stamp by the subscriber.
- Original PRAN card OR affidavit in case of Non submission of PRAN card
- KYC documents (address and photo-id proof) attested by mapped Nodal Office.
- 'Cancelled Cheque' (having subscriber’s Name, Bank Account Number and IFS Code) or ‘Bank Certificate’ on Bank Letterhead having subscriber’s name, Bank Account Number and IFS Code required to be submitted as bank proof. ‘Copy of Bank Passbook’ can be accepted, however, it should have Subscriber’s photograph on it and should be self attested by the Subscriber.
Nominee(s) registered in the CRA system can submit the Withdrawal request to CRA through the Subscriber’s associated Nodal Office. If the Subscriber was Non – IRA (Non-Individual Retirement Account) or Nominee was not registered with CRA, legal heir(s) can submit the Withdrawal request.
Withdrawal form needs to be submitted by all the nominees registered in CRA system. In case the nominee is a minor, Withdrawal form has to be submitted by the guardian along with the birth certificate of the minor.
What are the documents to be submitted while requesting for Withdrawal due to death of a subscriber?
Following documents are to be submitted alongwith the completely filled Withdrawal forms at CRA:
- Covering Letter from the associated Nodal Office to be submitted alongwith the Withdrawal form
- Advanced stamped receipt need to be duly filled and cross-signed on the Revenue stamp by the Subscriber.
- Original PRAN card OR affidavit in case of Non submission of PRAN card
- KYC documents (address and photo-id proof) attested by mapped Nodal Office.
- 'Cancelled Cheque' (having subscriber’s Name, Bank Account Number and IFS Code) or ‘Bank Certificate’ on Bank Letterhead having claimant’s name, Bank Account Number and IFS Code required to be submitted as bank proof. ‘Copy of Bank Passbook’ can be accepted, however, it should have claimant’s photograph on it and should be self attested by the claimant.
- Original Death Certificate issued by the Local Authority.
- In case of Nomineesdetails are not available in the CRA system, a legal heir certificate OR a certified copy of family member’s certificate issued by Executive Magistrate is required indicating the relationship of the claimant with the deceased as well as supporting documents is to be provided. If the all the legal heirs are not claiming the pension funds, Relinquishment deed to be submitted from all the legal heirs (except the Claimant) on a Stamp paper of Rs. 100/-alongwith the KYC documents (Photo ID proof and Address proof) of all the legal heirs duly attested by the mapped Nodal Office. Also an Indemnity bond needs to be obtained from the claimant stating the responsibility for claiming on behalf of all the legal heirs.
- Nodal Office has to submit the Death IRA compliance certificate if the subscriber’s PRAN is Non-IRA compliant.
Nodal Office and Subscriber can send an e-mail to info.cra@nsdl.co.in or npsclaimassist@nsdl.co.in for any query.
The major reasons why a Withdrawal request is‘rejected’ or kept ‘on hold’:
- KYC documents (Photo-ID Proof and Address Proof) not attested by mapped Nodal Office.
- Original PRAN card OR Affidavit in case of non-submission of PRAN card not submitted along with the Withdrawal form.
- ‘Date of Retirement’ mentioned on the Withdrawal form does not match with date mentioned on the Nodal Office covering letter. Hence, Nodal Office confirmation is required for correct Date of Retirement.
- Covering letter from the associated Nodal Office not submitted along with the Withdrawal form.
- The associated Nodal Office has not authorized the Withdrawal form.
- Withdrawal fund allocation percentage not provided in the Withdrawal form.
- Nomination details/Witness (to nomination) details not provided in the Nomination form.
- Address mentioned in theWithdrawal form is different from the Address Proof provided.
- Name provided in the Withdrawal form is different from the name provided in the KYC documents (Photo ID and address proof).
- Photograph is not ‘self attested’ by the Subscriber/Claimant.
- In case of death, Withdrawal request not submitted by the registered nominee as per the CRA system.
The Withdrawal proceeds are credited electronically to the bank account of the Subscriber/Claimant (as per the bank details provided in the Withdrawal form).
No, Withdrawal proceeds are credited electronically to the bank account of the Subscriber/Claimant, as the case maybe. It is necessary for the Subscriber /Claimant to have a bank account.
Following communications are sent to the Subscribers during the Withdrawal process:
- E-mail, letter and SMS alert to NPS Subscribers at the time of generation of Claim ID
- E-mail & letter is sent to the Claimant for any discrepancy observed
- At the time of acceptance of request, Transaction Statement is sent to the Subscriber through e-mail
- E-mail to Subscriber intimating the Fund Transfer Details of the credit remitted to Claimant/ASP bank account.
Withdrawal status can be checked through the ‘Limited access View’ functionality which is available at CRA website (www.cra-nsdl.com). Nodal Office and Subscriber can also check the status under the menu ‘Exit Withdrawal Request’ by logging into website.
In the context of NPS, Annuity refers to the monthly sum received by the Subscriber from the Annuity Service Provider (ASP). A percentage of the pension wealth as decided by the Subscribers (minimum 40% & 80% is to be invested with ASP in case Withdrawal is due to Superannuation & Pre-mature Exit respectively) is utilized for purchase of Annuity from the ASP.
In order to withdraw from Tier II account, the Subscriber needs to submit a duly filled UOS-S12 to the associated POP-SP. On T+3 days, (T being the date of processing) the funds are transferred from the Trustee Bank to Subscriber’s bank account as registered in the CRA system and the onus of tax payment on the withdrawal lies with the Subscriber since NPS system does not deduct any tax at source.
The units available in the Tier II account of the NPS Subscriber (for Subscriber holding a Tier II account) who has submitted a Withdrawal request for Tier I at CRA (provided the request stands approved from the concerned authority) are redeemed alongwith the Tier I balance. The funds redeemed are transferred to the bank account provided by the Subscriber in the Withdrawal form.
Subscribers exiting NPS on account of Superannuation can opt for deferring the Withdrawal of their lumpsum share (maximum 60%) to a maximum period of 10 years or 70 years of age (whichever is earlier).
As per PFRDA Exit Rules, Subscribers exiting NPS on account of Superannuation or Pre-mature Exit can defer purchase of Annuity (minimum 40% & 80% is to be invested with ASP in case Withdrawal is due to Superannuation & Pre-mature Exit respectively) for a maximum period of 3 years.
Once Withdrawal form is submitted by the Subscriber at the Nodal Office, following procedure to be followed:
a) Withdrawal form has been completely filled up
b) Required documents have been submitted by the Subscriber/claimant
c) Should attest the Withdrawal form & the KYC documents (Proof of Identify and Proof of Address)
d) Should capture the online Withdrawal request through maker and checker concept
Detailed checklist as per Withdrawal type is available at www.cra-nsdl.com. Nodal Office should attach its covering letter with the Withdrawal form & required documents and forwards the same to CRA for further processing.
a) Withdrawal form has been completely filled up
b) Required documents have been submitted by the Subscriber/claimant
c) Should attest the Withdrawal form & the KYC documents (Proof of Identify and Proof of Address)
d) Should capture the online Withdrawal request through maker and checker concept
Detailed checklist as per Withdrawal type is available at www.cra-nsdl.com. Nodal Office should attach its covering letter with the Withdrawal form & required documents and forwards the same to CRA for further processing.
The Withdrawal form needs to be submitted at the following address for further processing:
NPS Claim Processing Cell
Central Recordkeeping Agency,
NSDL e-Governance Infrastructure Limited,
1st Floor, Times Tower, Kamala Mills Compound,
Senapati BapatMarg, Lower Parel,
Mumbai-400013.
NPS Claim Processing Cell
Central Recordkeeping Agency,
NSDL e-Governance Infrastructure Limited,
1st Floor, Times Tower, Kamala Mills Compound,
Senapati BapatMarg, Lower Parel,
Mumbai-400013.
CRA on receipt of Withdrawal form scrutinizes the Withdrawal form. In case discrepancy is observed in the form, same is intimated to the Nodal Office and Subscriber. If the Withdrawal request is accepted at CRA, the request is forwarded
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