Partial Withdrawal Request under National Pension Scheme(NPS)-Govt Sector & "All Citizen"Sector Subscribers
Eligibility for Partial Withdrawal
You are eligible for making a partial withdrawal request only if you have been an NPS subscriber for at least 3 years (from the date of your joining the scheme).
Frequency and Limits of Partial Withdrawal
- You can withdraw up to a maximum of 3 times during the entire tenure of your NPS account.
- You can withdraw up to 25% of the own contribution in NPS at any time, excluding those made by your employer, if any.
Also, you can withdraw only 25% of the contributions made by you between two partial withdrawals.
Circumstances for Partial Withdrawal
The purposes for which you can make a partial withdrawal request include:
- Higher education for your children, including a legally adopted child
- Marriage of your children, including those legally adopted
- Purchase or construction of a residential house or flat in your name or a joint name with your legally wedded spouse
- Specified illnesses that involve hospitalization and treatment, either of yourself or your legally wedded spouse, your children (including those legally adopted), or dependent parents
- Meeting your medical and incidental expenses arising out of a disability or incapacitation suffered
- Meeting your expenses for skill development or re-skilling, or any other self-development activities, as permitted by PFRDA
- Establishment of your venture or start-up, as permitted under PFRDA guidelines(Only for All citizen sector Subscribers)
There are 14 specific diseases covered for partial withdrawal, including other critical illnesses of a life-threatening nature as may be mentioned in the circulars, notifications or guidelines issued by PFRDA at different points in time. These include:
- Cancer
- Primary pulmonary arterial hypertension
- Kidney failure (end-stage renal failure)
- Multiple sclerosis
- Major organ transplant
- Coronary artery bypass graft
- Aorta graft surgery
- Heart valve surgery
- Stroke
- Myocardial infarction
- Coma
- Total blindness
- Paralysis
- Accident of a serious or life-threatening nature.
Withdrawal Process
Subscriber will initiate online Partial Withdrawal request in CRA system(www.cra-nsdl.com) by
logging with PRAN as User ID & Password
Subscriber will select “Tier I Partial Withdrawal” option under “Continuation & Withdrawal”Menu. The eligible amount for Partial Withdrawal will be displayed to the Subscriber.
Subscriber will provide the required percentage and reason for partial withdrawal.During request initiation, the Bank Account of the Subscriber will be verified through online Bank
Account Verification. The Bank of the Subscriber should be empaneled for Online Bank Account Verification. Only if Bank Account verification is successful, then the Subscriber will be allowed to initiate Partial Withdrawal request.
Subscriber will accept the self-declaration for reason for Partial Withdrawal.
Subscriber is required to submit the request using OTP Authentication / eSign.
o In case of OTP Authentication, two separate One Time Password (OTP) will be sent on Mobile Number and email ID registered in CRA. In case of eSign, the OTP will be sent on Mobile Number registered with Aadhaar.
On successful submission, request will get executed in CRA. No supporting documents are required to be submitted to the associated POP. Also, request is not required to be verified by the POP.
Partial Withdrawal amount will be transferred to Subscriber’s Bank Account within stipulated
timeline.
What process to be followed if OTP Authentication / eSign is not possible or Subscriber
is not able to initiate online Partial Withdrawal Request?
If OTP Authentication / eSign is not possible or the Subscriber is not able to initiate online Partial Withdrawal request in CRA system for any reason, then the Subscriber is required to submit physical Partial Withdrawal Form (with self-declaration) to the associated POP.
Subscriber will accept self-declaration for reason of withdrawal and submit copy of Bank Proof for Bank Account registered in CRA.
The POP will initiate and authorize the Partial Withdrawal request in the CRA system with Maker-Checker User ID. No supporting documents (w.r.t. stated withdrawal reason) are required to be submitted by the Subscriber.
Partial Withdrawal Form (with self-declaration) is available under "Forms" section, which is available under respective sector on this website. The Standard Operating Procedure (SOP) on partial withdrawal request processing is available under “Point of Presence (POP) Corner” section, which is available under respective sector on this website.
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