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

2nd April, 2014

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 to circular no. PFRDA/2013/17 /PDEX/10 issued on 23rd October, the ‘request form’ is being replaced with ‘request cum undertaking’ form, as attached along with.

The subscribers wishing to exercise this option shall have to fill the attached ‘request cum undertaking form’ along with the NPS Withdrawal form while submitting the same to their DDO/PAO/DTO/POP. The subscribers who have sent the requests earlier also need to send a fresh request on the amended form for processing of their claims.

Sd/
Venkateswarlu Peri
General Manager

REQUEST CUM UNDER TAKING FORM FOR WITHDRAWAL OF TOTAL PENSION WEALTH UPON SUPERANNUATION / UPON ATTAINMENT OF 60 YEARS OF AGE AND WHERE THE TOTAL PENSION WEALTH IS EQUAL TO OR LESS THAN RS. 200, 000/-

I, …………………………………………….S/D/W/O……………………………………, aged about ……….years, residingat……………………………………………………………………, do hereby solemnly affirm and declare as under:

1. That I am a subscriber of National Pension System, holding PRAN ………………..

2. That since the total amount receivable by me as the benefit receivable upon exit from NPS is Rs. …………………., which is less than/equal to the limit of Rs. 2,00,000/-, I understand that I am eligible to opt for withdrawal of the total pension wealth under NPS rules/guidelines, Basing on the above, I hereby opt to withdraw my complete pension wealth lying to my credit in my aforesaid PRAN account being the full and final benefits receivable by me.

I also understand that with the aforesaid withdrawal, I or my family members shall not be entitled to receive any other or further benefits under the National Pension System (NPS) including the benefits as provided under Government of India notification dt. 22nd Dec, 2003.

Date:
Place:

Signature of the Subscriber

Attested by:
Signature of the PAO/DDO/DTO/POP : …………………………………………………
Name of the designated Official: ……………………………………………………………
PAO/DDO/DTO/POP Registration Number …………………………………………..
Rubber Stamp of the
PAO/DDO/DTO/POP …………………………………………………………………………

Source: PFRDA
[http://www.pfrda.org.in/writereaddata/linkimages/ModifiedCircular2.pdf]