Right now, the subscribers have to fill the form by going to the point of presence or POP itself to get out of the NPS. They have to submit their withdrawal request to offline center
Subscribers of the National Pension System i.e. NPS can now exit from it online as well. The Pension Fund Regulatory and Development Authority i.e. PFRDA said on Wednesday that subscribers can now exit the NPS online as well as offline mode. Right now, the subscribers have to fill the form by going to the point of presence or POP itself to get out of the NPS. They have to submit their withdrawal request to offline center. Along with the NPS form, they have to submit other supporting documents. NPS can be withdrawn only after the form is approved.
To exit through online mode, the subscriber can submit the online form through a documentary document OTP or electronic signature. This process is paperless.
How to exit online
For this, the subscriber will have to submit an exit request to the Central Record Keeping Assembly. Enter login, ID and password first. After this, they will have to upload documents for corpus allocation, annuity service provider, annuity scheme, etc. along with the withdrawal documents for lumsum or annuity. KYC will also have to be uploaded. For this, Aadhar card and PAN card can be uploaded.
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Instructions to complete all preparations for implementing new rules
After this, the Instant Bank will identify the POP account through account verification and will verify the uploaded document. After processing the online withdrawal request, POP will charge 0.125% of the total corpus as fees. It can be minimum Rs 125 and maximum Rs 500. PFRDA has directed all POPs and CRAs to complete all technical preparations for this within a fixed time frame, so that the subscribers can get relief.
