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NATIONAL PENSION SYSTEM (NPS) Exit from National Pension System Due to Premature Exit Claim IDAx recent colour photograph of 3.5 cm 2.5 cm size / Passport sizeAcknowledgement NoTo, NPS Trust. Sir/Madam,.

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Follow the steps to fill out the form correctly.

  1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin filling out Section A - Subscriber’s Personal Details. Provide information such as your sector, organization name, PRAN, full name, father's name, and other required personal details.
  3. Complete the personal information fields accurately. Ensure all mandatory fields marked with an asterisk (*) are filled in.
  4. Proceed to fill out Section B - Subscriber's Bank Details. Provide your bank account number, bank name, branch address, and IFSC code. Attach a cancelled cheque or appropriate documentation to verify this information.
  5. Move to Section C - Subscriber’s Withdrawal Details. Indicate your withdrawal preference: if you wish to withdraw the full amount or make a normal withdrawal. Provide the required details according to your choice.
  6. If opting for a normal withdrawal, specify the percentage of the corpus for lump sum withdrawals and the purchase of annuity.
  7. Fill out Section D for Subscriber’s Annuity Details if not choosing complete withdrawal. Select your preferred annuity service provider and scheme, as well as the frequency of annuity payments.
  8. In Section E - Subscriber’s Nomination Details, provide details of nominees including name, relationship, and percentage share. This is crucial for financial settlements.
  9. Complete Section F if required, which includes information on family members for joint life policies or family income options.
  10. Review the Declaration by the Subscriber ensuring all information is correct before providing your signature or thumb impression.
  11. Finally, save your changes. You can download, print, or share the completed form for further processing.

Complete your documents online now and ensure a smooth withdrawal process.

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A subscriber can make partial withdrawal after joining the NPS after 10 years, not exceeding twenty-five per cent of the contributions made by him/her and excluding contribution made by employer, if any, at any time before exit from National Pension System subject to the terms and conditions, purpose, frequency and ...

Normal exit Complete (100%) Lump sum withdrawal is allowed if the corpus is less than or equal to ₹ 5 Lakh. If the corpus is more than ₹ 5 Lakh, at least 40% of the accumulated pension wealth of the Subscriber has to be utilized for purchase of an Annuity and the balance 60% is paid as lump sum.

The maturity period of NPS is 60 years. You must contribute to your NPS account till you attain 60 years.

If you do not wish to continue your NPS account or defer your Withdrawal, you can exit from NPS anytime. Log in to CRA system (.cra-nsdl.com) using your User ID (PRAN) and Password. Enter necessary details including choice of Annuity Service Provider (ASP) and Annuity Scheme which will provide you pension.

No, it is not possible to withdraw 100% of the accumulated corpus from the National Pension System (NPS) at once. The NPS is a retirement-focused investment product, which means that the money you invest in it is meant to provide you with a regular income after you retire.

If you do not wish to continue your NPS account or defer your Withdrawal, you can exit from NPS anytime.

In case of Pre-mature Exit- If total accumulated corpus is less thanor equal to Rs. 2.5 lakh, the Subscriber can avail the option of complete Withdrawal. However, you can exit from NPS only after completion of 5 years.

Normal exit - The NPS subscriber attains 60 years of age, or salaried NPS subscriber retires from employment, as per their employment terms . Premature exit - Subscriber voluntarily chooses to close their account. Death of the subscriber.

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