SBI PENSION FUND SCHEME - CENTRAL GOVT - 26.008 as on 19-01-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 22.341 as on 19-01-2018 || SBI PENSION FUND SCHEME E - TIER I - 24.3269 as on 19-01-2018 || SBI PENSION FUND SCHEME C - TIER I - 24.4823 as on 19-01-2018 || SBI PENSION FUND SCHEME G - TIER I - 22.2851 as on 19-01-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.4346 as on 19-01-2018 || SBI PENSION FUND SCHEME C - TIER II - 22.416 as on 19-01-2018 || SBI PENSION FUND SCHEME G - TIER II - 21.2932 as on 19-01-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.1163 as on 19-01-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.5658 as on 19-01-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.5349 as on 19-01-2018 || SBI PENSION FUND SCHEME A - TIER I - 10.8665 as on 19-01-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.3299 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.5568 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.7054 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 22.1572 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 20.103 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 23.2572 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 21.1738 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.6172 as on 19-01-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.0243 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 19-01-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.9051 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.8314 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.3484 as on 19-01-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 22.6484 as on 19-01-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.8789 as on 19-01-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.6634 as on 19-01-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.8747 as on 19-01-2018 || LIC PENSION FUND SCHEME C - TIER I - 15.8643 as on 19-01-2018 || LIC PENSION FUND SCHEME G - TIER I - 16.0476 as on 19-01-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.7723 as on 19-01-2018 || LIC PENSION FUND SCHEME C - TIER II - 14.8653 as on 19-01-2018 || LIC PENSION FUND SCHEME G - TIER II - 15.9911 as on 19-01-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.8366 as on 19-01-2018 || LIC PENSION FUND SCHEME A - TIER I - 10.7902 as on 19-01-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 26.7029 as on 19-01-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 24.2989 as on 19-01-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 20.5071 as on 19-01-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 23.6228 as on 19-01-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 20.922 as on 19-01-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 19.2676 as on 19-01-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.4607 as on 19-01-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 10.8156 as on 19-01-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 26.8035 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 21.9964 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 20.0653 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.9103 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.486 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.4864 as on 19-01-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.741 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 28.5978 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.4305 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.6569 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.5365 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.7681 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.8044 as on 19-01-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.9031 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 21.0189 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.874 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.2777 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.2086 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.9682 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.6125 as on 19-01-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.8482 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.7161 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.722 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.2675 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.4389 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.689 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.4392 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 9.9147 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 19-01-2018

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Withdrawal

As per Pension Fund Regulatory & Development Authority (PFRDA) Exit Rules, following Withdrawal categories are allowed:
a) 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.

b) 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.

c) 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 POP/POP-SP

Type Of Withdrawal
RequestCentral/State GovernmentCorporate/All Citizens of India SectorSwavalamban (NPS-Lite) Sector
Superannuation101-GS301501
Premature Exit102-GP302502
Death103-GD303503

Withdrawal forms are available on the NSDL-CRA Corporate Website (http://www.npscra.nsdl.co.in). Subscriber can also send an email to "npsclaimassist@nsdl.co.in" or "info.cra@nsdl.co.in" to get the Withdrawal forms in their e-mail ID.

For any superannuating subscriber/attaining 60 years of age, CRA generates a Claim ID six months prior to the attaining 60 years of age. CRA intimates the generation of Claim ID to the subscriber / POP-SP vide e-mails, letters, SMS. POP/POP-SP 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 the associated POP-SP 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 birth is less than six months away, the concerned POP-SP should update the correct retirement date in the CRA system.

No, the Withdrawal forms should be submitted to the associated POP/POP-SP (through the POP in case of Corporate model subscriber) for onward submission at CRA. POP/POP-SP should stamp and authorise 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.

Following documents are to be submitted alongwith the completely filled Withdrawal form for Superannuation & Pre-mature Exit at CRA:

• Covering Letter from the associated POP/POP-SP 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 stating the reason for non-submission of PRAN card in case of Non submission of PRAN card
• KYC documents (address and photo-id proof) attested by mapped POP/POP-SP.
• ‘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.

Following documents are to be submitted alongwith the completely filled Withdrawal forms at CRA:

• Covering Letter from the associated POP/POP-SP 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 stating the reason for non-submission of PRAN card in case of Non submission of PRAN card
• KYC documents (address and photo-id proof) attested by mapped POP/POP-SP.
• ‘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 the Nominee details 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 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 POP/POP-SP. Also an Indemnity bond needs to be obtained from the claimant stating the responsibility for claiming on behalf of all the legal heirs.
• POP/POP-SP has to submit the Death IRA compliance certificate if the subscriber’s PRAN is Non-IRA compliant.

Some of the major discrepancies observed at CRA in the withdrawal forms are listed below:

a) KYC documents (Photo-ID Proof and Address Proof) not attested by mapped POP/POP-SP.
b) Original PRAN card OR Affidavit in case of non-submission of PRAN card not submitted along with the Withdrawal form.
c) ‘Date of Retirement’ mentioned on the Withdrawal form does not match with date mentioned on the POP/POP-SP covering letter. Hence, POP/POP-SP confirmation is required for correct Date of Retirement.
d) Covering letter from the associated POP/POP-SP not submitted along with the Withdrawal form.
e) The associated POP/POP-SP has not authorized the Withdrawal form.
f) Withdrawal fund allocation percentage not provided in the Withdrawal form.
g) Nomination details/Witness (to nomination) details not provided in the Nomination form.
h) Address mentioned in the Withdrawal form is different from the Address Proof provided.
i) Name provided in the Withdrawal form is different from the name provided in the KYC documents (Photo ID and address proof).
j) Photograph is not ‘self attested’ by the subscriber/claimant.
k) In case of death, Withdrawal request not submitted by the registered nominee as per the CRA system.

If the subscriber is going to superannuate six months from now, the subscriber can submit his Withdrawal Form anytime after the generation of Claim ID, however the Withdrawal request will be processed only after completion of Superannuation age/ Date of Retirement (as per the CRA records).

In order to generate Claim ID for Withdrawal of NPS funds in case of Pre-mature Exit, the subscriber would have to contact the POP-SP 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’).

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.

Nominee(s) registered in the CRA system can submit the Withdrawal request to CRA through the subscriber’s associated POP/POP-SP (through the associated Corporate in case of Corporate model subscribers). If the 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.

The Withdrawal proceeds are credited electronically to the bank account of the subscriber or claimant (as per the bank details provided in the Withdrawal form).

No, Withdrawal proceeds are credited electronically to the bank account of the subscriber or the 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 email
• 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). POP/POP-SP and subscriber can also check the status under the menu ‘Exit Withdrawal Request’ by logging into website.

The subscriber can either send an email to info.cra@nsdl.co.in or npsclaimassist@nsdl.co.in case of any query pertaining to withdrawal or may get in touch with his/her associated POP/Corporate. Withdrawal related guidelines are also available on the PFRDA and CRA website.

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).

If a subscriber discontinues his/her investments under the scheme and the minimum contributions are not made as stipulated, the account will be frozen and can be reactivated only by paying the penalty alongwith the minimum contribution.
However, if a subscriber wishes to exit from NPS before attaining the age of 60, he/she can withdraw upto 20% of the sum accumulated till that point of time. The subscriber has to buy annuity with the rest of the money. The commencement of the annuity depends on the annuity plan / scheme offered by the ASPs.

An annuity is a financial instrument which provides for a regular payment of a certain amount of money on monthly/quarterly/annual basis for the chosen period for a given purchase price or pension wealth. In simple terms it is a financial instrument which offers monthly/quarterly/annual pension at a specified rate for the period you chose.

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.

Indian Life Insurance companies which are licensed by Insurance Regulatory and Development Authority (IRDA) are empanelled by PFRDA to act as Annuity Service Provider’s to provide annuity services to the subscribers of NPS.

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.

The mode and manner of payment of amount (if any available) will depend on the type of annuity plan / scheme selected by the subscriber while buying the annuity.

The units available in the Tier II account of the NPS subscriber 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 account provided by the subscriber in the Withdrawal form.

In order to withdraw from Tier II account, the subscriber needs to submit a duly filled UOS-S12 form to the associated POP-SP. If the request is entered and authorised in CRA system by the POP/POPSP before 11:45 PM, then it goes for same day's processing, or else it goes for the next business day. The redemption amount may vary due to the variation of NAV. Units are redeemed based on the NAV declared at the end of the processing day. On T+3 working 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.