Wednesday, October 23, 2013

Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber

Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
 
23rd October, 2013
PFRDA/2013/17 /PDEX/10

Subject: Exit guidelines under National Pension System – Option for Complete withdrawal of accumulated pension wealth by subscriber
 
In partial modification of exit guidelines provided under master circular no: PFRDA/2013/2/PDEX/2 (at Serial no: 2 & 3) dt: 22/01/2013, it has been decided to provide an option to withdraw the entire accumulated pension wealth to subscribers other than the subscribers of NPS Lite – Swavalamban Scheme, subject to the condition that:

The accumulated pension wealth in the subscribers permanent retirement account is equal to or less than Rs.2,00,000/- at the time of superannuation for government employee subscribers or upon attaining the age of 60 years for subscribers falling under All citizen model and Corporate model.

The subscribers wishing to exercise this option shall have to fill the attached request form along with the NPS Withdrawal form while submitting the same to their
DDO/PAO/DTO/POP.
Sd/-
Venkateswarlu Peri
General Manager

CIRCULAR

National Pension System (NPS)

Request for withdrawal of Total Pension Wealth upon normal superannuation (for government employees) / Upon attaining the age of 60 years and where the total pension wealth is equal to or less than Rs.2,00,000/-
 
I _________________________________________ holding a Permanent Retirement Account with number (PRAN) ————————————————– do
hereby apply for the payment of the accumulated pension wealth in my NPS account being the full and final benefits receivable by me.

Date:
Place: Signature of the Subscriber

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