Simplification of withdrawal process -
Documentary requirements for subscribers belonging to Grameen Dak Sevaks (GDS)
who are covered under NPS-Lite-Swavalamban
PENSION
FUND REGULATORY
AND
DEVELOPMENT AUTHORITY
B-14/A,Chhatrapati
Shivaji Bhawan
Qutab
Institutlona Area,
Katwaria
Sarai, New Delhi-110016
CIRCULAR
PFRDA/2016/12/Exit/04
08.06.2016
To,
NPS Trust/CRA/Aggregators & other stakeholders
NPS Trust/CRA/Aggregators & other stakeholders
Simplification of withdrawal
process - Documentary requirements for subscribers belonging to Grameen Dak
Sevaks (GDS) who are covered under NPS-Lite-Swavalamban
This is with reference to feedback received
from the concerned stakeholders comprising the subscribers belonging to
NPS-Lite-Swavalamban including Grameen Dak Sevaks (GDS) on simplification of
the procedural requirements basing on the low contribution levels and the level
of awareness and literacy among the target segment of population covered under
this category. The Authority has examined the matters pertaining to this
category basing on the withdrawal applications received and the feedback from
the withdrawal processing of these applications in order to identify the
difficulties being faced and with a view to reduce the procedural burden in the
interest of the subscribers.
Based on the examination of the issues
concerned, the Authority has decided to simplify some of the documentary
requirements and processes which are detailed as below in order to streamline
the withdrawals processing of applications received under NPS-Lite-Swavalamban
including the subscribers of GDS.
The following documents would be accepted as
acceptable documents for processing of such withdrawal claims:
1) Certification by Nodal office - as
acceptable proof of Know Your Customer (KYC) norms and Other Details - as per
Annexure l
2) Revised Request cum Undertaking form for
exercising the option to withdraw the entire accumulated corpus in terms of
Regulation 5 (a) (ii) of PFRDA (Exits and Withdrawals under NPS) Regulation ,
2015 - as per Annexure II
3) Further, the requirement of self-attestation
of photograph by the subscriber for NPS-Lite- Swavalamban subscribers including
GDS subscribers has been waived off. However, the requirement of photograph
shall continue to apply.
Yours faithfully,
(Venkateswarlu Peri)
General Manager
ANNEXURE I
CERTIFICATION BY NODAL OFFICE
- KYC AND OTHER DETAILS
Certified that Shri/Smt.... .... .... .... ....
.... .... ... Son/Wife of Shri .... .... .... .... ... who is an
employee of (office address) .... .... .... .... ... from (date) .... ....
.... .... ... and is at present holding the post of .... .... .... .... ... and
his/her identity is certified as provided in the NPS withdrawal application
form along with the address as provided.
Further, the name and Bank account details as
provided in the withdrawal application form by the subscriber shall be accepted
as final.
Date ....
.... .... .... ...
Signature of the certifying officer
Name:
Designation:
Address & Tel No:
of the certifying officer
Designation:
Address & Tel No:
of the certifying officer
Annexure II
(As per Regulation 5(a)(ii)
of PFRDA (Exists & withdrawals) Regulations, 2015
REQUEST
CUM UNDER TAKING FORM FOR WITHDRAWAL OF TOTAL PENSlON WEALTH AETER ATTAlNlNG
THE AGE OF 60 YEARS AND WHERE THE TOTAL PENSION WEALTH IS EQUAL TO OR RS.
100,000/-
I, ........ .... .... .... ... .... .... .... ... S/D/W/O .... .... .... .... .... .... .... ... aged about ..........years, residing at .... .... .... .... ....... .... .... .... ....... .... .... .... ....... .... .... .... ....... .... .... .... ....... .... .... do hereby solemnly
affirm and declare as under:
1. That I am a subscriber of National Pension System, holding PRAN
I, ........ .... .... .... ... .... .... .... ... S/D/W/O .... .... .... .... .... .... .... ... aged about ..........years, residing at .... .... .... .... ....... .... .... .... ....... .... .... .... ....... .... .... .... ....... .... .... .... ....... .... .... do hereby solemnly
affirm and declare as under:
1. That I am a subscriber of National Pension System, holding PRAN
2. That since the accumulated pension wealth in
my retirement account being less than Rs.1,00,000/-, I would like to exercise
my option for withdrawing the entire accumulated pension wealth without going
for the mandatory annuitisation in terms of Regulation 5(a) (ii) PFRDA (Exits
and Withdrawals under the National Pension System) Regulations 2015.
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).
Date:
Place:
Signature/Thumb Impression of
the Subscriber*
*in case of female, Right Thumb Impression and in case of males Left Thumb Impression may be taken