PENSION FUND REGULATORY AND DEVELOPMENT
AUTHORITY
PFRDA/2015/07/EXIT/02
25 th February, 2015
To,
All Govt depts./PAO’s/PrAO’S/DDO’S/DTO’S &
CRA
Dear Sir/ Madam,
SUB: Simplification of Withdrawal process –
Documentary requirements
Currently, the following documents are
required to be submitted by the subscribers for processing a withdrawal request
by CRA / NPS Trust for various types of withdrawals and which are common across
all the sectors of National Pension System.
1. Original PRAN Card or In the absence of
PRAN card, notarized affidavit
2. Photo ID proof*
3. Address proof of the Claimant*
4. Cancelled cheque (containing claimant’s
Name, Bank Account Number and IFS Code) or Bank Certificate
* If a document contains both identification
and address for compliance with KYC requirements, it would be sufficient for
processing the withdrawals. Ex: Passport,Aadhar, Driving license, Ration
card etc.
Additionally, the following documents are
asked for exits arising out of death of the subscriber
5. Death certificate in original issued by
local authorities
6. Legal Heir Certificate/Succession
Certificate as applicable in case if nominationis not registered by
the subscriber
However, feedback has been received at various
meetings conducted by PFRDA with Government officials, subscribers and other
stakeholders that the burden of documentation is too heavy and needs to be
reduced for a smooth operation of the system. The Authority based on the
feedback and also upon reexamination of the procedural requirements at various
levels and has decided to simplify the documentary requirements for the
Government subscriber sector to begin with. However, the long run
goal is to minimise the documentary requirements for all sectors.
The following are the revised requirements
for the Government sector subscriber for the Exit and withdrawal
requests submitted to CRA / NPS Trust:
1. KYC documents, Bank Passbook/cancelled
cheque/bank certificate and Name mis-match certification: The
certification provided by the PAO/PrAO/DDO/DTO that
- the
KYC requirements of proper identification of the subscriber has
been done (as per Annexure I)
- that
the name as provided in the withdrawal application form be
accepted as final.
- Bank
account details as provided in the application form be accepted
as final.
Would be accepted and claims dealt
accordingly.
2. Nomination – If already existing in
CRA system – there is no further requirement to fill in the details,
unless the subscriber wishes to change the nomination already
provided
3. Original PRAN card or In the absence
of PRAN card, notarized affidavit: Not required to be submitted
henceforth.
4. Death certificate – Copy of the
death certificate duly attested by the concerned PAO/PrAO/DDO/DTO with a
specific certification that it is a true copy of the original death certificate
and such certificate shall be dated and subscribed by such officer with his
name, title and seal of office would be accepted as adequate for the purpose of
establishing the death of the subscriber.
Yours faithfully,
Sd/-
Venkateswarlu Peri
General Manager
Venkateswarlu Peri
General Manager
ANNEXURE I
1. KYC CERTIFICATION
Certified that Shri/Smt …………. Son/Wife of Shri
…………………, who is an employee of (office address) ……………. from (date) ……. and is
at present holding the post of ……………….. and his/her identity is certified as
provided in the NPS withdrawal application form along with the
address as provided.
Further, the name and Bank account details as provided in the withdrawal application form by the subscriber shall be accepted as final.
Further, the name and Bank account details as provided in the withdrawal application form by the subscriber shall be accepted as final.
Date ……………..
Name, Designation, Address & Tel
No Of the certifying officer
