NPS Exit Rules: Your PFRDA guide to exit the scheme

NPS Exit Rules: Want to know how to exit from the National Pension System (NPS)? Here is what you should know. A subscriber can exit from NPS only in accordance with rules prescribed under the PFRDA (Exits and Withdrawals under NPS) Regulations, 2015 which were notified on 11 May, 2015.  

Pension Fund Regulatory and Development Authority (PFRDA) is the regulator for the promotion and development of an organised pension system in the country. The said regulation is a comprehensive document giving details of all the benefits that can be withdrawn under the National Pension System and the applicable conditions thereof.   The said regulation is available on our website at www.pfrda.org.in.

Withdrawal Procedure
Under National Pension System (NPS), The Central Recordkeeping Agency (CRA) has been entrusted with the responsibility of receiving instructions related to all types of withdrawals, processing and settlement of all such claims from NPS account holders under National Pension System.  CRA has created a specific Claim Cell called NPS Claim processing cell (NPSCPC) for processing all claims under NPS and the contact details of the same are as given below whom the subscribers can contact for obtaining the information, forms and procedure pertaining to the Exit and withdrawal of benefits upon exit from National Pension System (NPS):

Communication Address of CRA Claim Cell

-- NPS Claim Processing Cell, NSDL e-Governance Infrastructure Limited, 10 th Floor, Times Tower, K amala Mills Compound, Senapati  Bapat Marg, Lower Parel, Mumbai - 4000013

-- Telephone Numbers
022-24994274/022-24994842/022-249904200 (Board)

-- E-mail npsclaimassist@nsdl.co.in
Contact Person / Persons: Manjiri Salvi / Mr. Dinesh Dalvi

Second or Senior Level Contact Person - Mandar Karlekar; mandark@nsdl.co.in

Subscribers / PAO / POP / AGGREGATOR can contact the personnel mentioned above in case of any doubt/queries on the withdrawal process or any other information pertaining to the withdrawal of benefits under NPS.

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In order to facilitate and expedite the process for settlement of the withdrawal claims of NPS subscribers, PFRDA has made it mandatory for all the nodal offices (PAOs/DTOs/POPs/Aggregators) to process the withdrawal claims of their underlying subscribers on the online platform being made available on the CRA system from 1 April, 2016. This functionality has been made available on CRA website.  Physical Withdrawal requests submitted by the POPs will not be processed by CRA.