NPS Latest News: Processing of Partial Withdrawal request
Public Notice – Processing of Partial Withdrawal requests in system latest by 31.12.2018 National Pension System Trust (NPS Trust)
Are you an NPS subscriber who has applied for partial withdrawal from PRAN but has yet to receive the funds?
If yes, please read and act upon the following message immediately:
An NPS subscriber is permitted to make partial withdrawal for specified purpose after three years of joining. If the subscriber has applied for partial withdrawal, the completed hard copy form and documents are also required to be submitted to the concerned nodal office for verification and authorization.
In absence of submission of the hard copy form and documents to the nodal office, the online partial withdrawal request will remain pending in the system and the subscriber will not receive the funds.
As per advisories issued by the Pension Fund Regulatory & Development Authority (PFRDA) on 06 December 2018, in case of all partial withdrawal requests captured in the system till 30 November 2018, the required forms, information and documents need to be submitted to the respective nodal offices immediately so that verification and authorization can be completed
latest by 31 December 2018.
The nodal offices will be: Pay & Accounts Office (PAO) / District Treasury Office (DTO) / Drawing & Disbursing Office (DDO) for the government sector subscribers and Points of Presence (PoPs) for subscribers in other sectors.
If a request for partial withdrawal is not authorized in the system by 31 December 2018, it will be treated that the subscriber is no longer interested to seek partial withdrawal and the application / request will be considered as withdrawn.
You are therefore requested to liaise with your nodal office to ensure your online partial withdrawal request, supported by hard copy application and other documents, is duly processed by them well before 31 December 2018.
In case you face any issues with your nodal office in the above matter, you can approach NPS Trust (along with your Permanent Retirement Account Number – PRAN and your own & your nodal office’s contact details) via email: [email protected]
Source: NPS Trust