- LATEST
- WEBSTORY
- TRENDING
PERSONAL FINANCE
New NPS rules: Withdraw pension scheme money with just one form, know how
PFRDA made special changes under NPS. Now only one form can be filled for withdrawal of pension scheme money.
Updated : Nov 21, 2022, 01:43 PM IST | Edited by : Raunak Jain
 "NPS, PFRDA, Pension plan, nps rule changed, nps subscribers, NPS update, NPS System, pension scheme, Central Government")
TRENDING NOW
)
AR Rahman, Saira Banu's daughter Raheema opens up on parents' divorce being linked to Mohini Dey: 'Always remember...'
)
Riddhima Kapoor Sahni reveals Rishi Kapoor's last two wishes: 'He wanted to see Ranbir Kapoor getting...'
)
Sana Khan, former Bigg Boss contestant, actress announces 2nd pregnancy with Anas Saiyad: 'Only Allah has power to..'
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
'Your dance lightens up...': Little girl's dance on 'Tere Bina na Guzara E' steals hearts online, WATCH viral video
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
After breakup with Malaika Arora, Arjun Kapoor dedicates his new tattoo to this special person in his life
)
32-year-old superstar forcibly kissed 15-year-old co-star; left her traumatised, crying; later laughed about it saying..
)
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
)
Amid Aishwarya Rai-Abhishek Bachchan divorce rumours, Jaya Bachchan says 'not my daughter' in viral video
)
Telecom rules to change from January 1, Mukesh Ambani's Jio, Airtel, Vi, BSNL will be affected due to...
)
Gandii Baat, XXX actress Aabha Paul sets Instagram on fire with hot photos
)
Meet Mathira Khan, Pakistani influencer whose private video leaked after Minahil Malik, Imsha Rehman
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
NPS: The lengthy process of withdrawing funds from the National Pension System, or NPS, has been streamlined as a result of an agreement between the Insurance Regulatory and Development Authority (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA). Now, all that is required to withdraw the invested funds is to complete a withdrawal form. Investors won't need to fill out a separate annuity form for this.
The NPS subscriber will not be needed to complete a separate annuity proposal form for NPS withdrawal, per the circular issued on September 13, 2022. You can fill out this form online. The NPS withdrawal form must be filled out completely with all information pertaining to the plan and withdrawal. Any missing information could prevent you from receiving NPS funds.
What is the current withdrawal procedure?
Forms for withdrawal under NPS are currently submitted to the nodal office both online and offline. Detailed information must also be provided regarding the amount in this form, in addition to the amount itself. They must fill out the form provided by the insurance firms with all the necessary information once they have chosen a plan.
A PFRDA letter dated November 14, 2022, states that the incentives accessible to subscribers have multiplied as a result of the merger of the two financial organisations. Additionally, NPS subscribers will gain a lot from this choice. Tell us about the advantages of this.
What will be the advantages:
Annuities are now simpler to obtain and will be issued more quickly.
The issuance of annuities and lump sum payments will follow a standard procedure.
The sum will be distributed as a monthly pension and retirement fund after the subscriber retires.
The exit form, KYC, and all necessary papers must be uploaded by Subscribers to the CSR system, per the PFRDA circular. On the other hand, NPS retirees and older people must enrol on the Jeevan Pramaan portal in order to have their lives verified using Aadhaar.
