Pension Fund Regulator PFRDA has introduced new online facilities for NPS subscribers.
National Pension System subscribers (NPS Subscribers) can now exit online with offline mode. For this, subscribers can apply for exit from NPS by logging on to the Central Record Keeping Agency (CRA) system and entering their ID and password.
- January 11, 2021, 7:56 PM IST
Important documents will be submitted through OTP or e-signature
Pension fund regulator said that with offline, now subscribers can also exit online from NPS. Under this, subscribers can submit their documents online through OTP or Electronic Signature (e-sign). This will help people get out of NPS. For this, they will not have to go around the POP. To exit online from NPS, subscribers have to submit Exit Request to Central Record Keeping Assembly (CRA). For this, they will have to fill in the information sought by entering the login ID and passlard.
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Subscribers have to upload the corpus allocation for lumpsum or annuity, annuity service provider, document of annuity scheme along with the withdrawal document. They also have to upload KYC. For this, they can upload Aadhaar card and PAN card. After this, under the POP penny drop, the bank account of the subscriber will be identified through instant bank account verification and will verify the uploaded document. After processing the online withdrawal request, POPs will charge 0.125 per cent of the total corpus as fees, which can be a minimum of Rs 125 and a maximum of Rs 500. This service has started for subscribers.