NPS / CPS Partial Withdrawal - Latest
Instructions
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Cir.Memo. No. F2/3058/2013,
Dated:02/08/2024
Comp No:327906
Sub: NATIONAL PENSION SYSTEM – Option of
partial withdrawal from PRAN Account at Subscriber level - Instructions issued
- Reg.
Ref:
1.Cir. Memo. No F2/3058/2013, Dated
29/10/2018.
2.Cir. Memo. No F2/3058/2013, Dated
19/07/2021.
3.Cir.Memo.No.FIN02-160134/6/2020-F-SEC-DTA;
Dated:21.05.2020.
4. A mail received from NSDL-CRA,
Dated.30.07.2024.
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Attention of the all DTAOs / PAOs /
Treasury Officers in the state is invited to the subject and references cited.
They are informed that in the reference of 1st cited, this office has issued procedural
and comprehensive guidelines to all stake holders of NPS in the state for
availing partial withdrawal under National Pension System as per the provision
of regulation no. 8 of the Pension Fund Regulatory and Development Authority
(Exit and withdrawal under National Pension System) Regulations 2015.
Recently, the Protean eGov Technologies
Ltd., has enabled the facility of partial withdrawal in the subscriber login
where the subscriber himself shall initiate withdrawal through OTP authentication
/ eSIGN verification at Subscriber level. For clarifying this procedure, this office
has contacted the Protean Authorities and in response vide reference 4th cited,
the Protean-CRA authorities have informed that partial Withdrawal Initiation
Functionality was enabled in the subscriber’s Login and shared a Standard
operating procedure with a request to share the SOP to the Treasury Offices.
Accordingly, the following steps are to
be followed by the Treasury Ofcers / PAOs for processing Online Partial Withdrawal
request initiated by the subscriber in the CRA system:
I. After generation of online Partial
withdrawal 601 form in the CRA by subscriber, the concerned DDO have to verify and
submit the counter signed form to concerned Treasury along with self-declaration
form.
II. On receipt of the forms, the user
(1st level at CRA) has to verify Mandatory upload of documents and Acceptance
of Self-declaration of the Subscriber for the purpose of withdrawal.
III. If details entered or uploaded
documents are not correct, then the user has to click on “Reject” radio button
and specify the reason for rejection of request. Rejected withdrawal request
has to be authorized by the User (2nd Level) in CRA login.
IV. If details entered or uploaded
documents are correct, then the user (1st Level) has to click on “Confirm”
button and then CRA system verifies partial withdrawal request and populates in
the user (2nd Level) login at CRA for Authorization or Rejection. If rejected
subscriber partial withdrawal request gets cancelled.
V. On authorization of the withdrawal in
online mode, the Central Record Keeping Agency shall process the request in the
CRA system and respective amount will be directly transferred to the
Subscribers Bank Account on electronic mode in T+3 basis.
VI. The Treasury officer / PAO shall
record withdrawal information in the Watch register maintained at their level for
Partial withdrawal as instructed in the reference 1st cited.
VII. Physical Partial Withdrawal Form
and supporting documents are not required to submit by Nodal Ofcer.2 (TO / PAO)
to the Protean-CRA for storage purpose initiated by Subscriber through online
in CRA through digital signature (OTP Authentication / eSign).
VIII. In case of partial withdrawal
request is directly initiated and authorized by the Treasury Officer / PAO in
the CRA system, the Nodal Ofcer.2 (TO / PAO) should upload scanned PW form and
supporting documents in CRA and these forms are not required to submit to the
CRA in physical mode.
Hence, all the District Treasury and
Accounts Officers in the State shall take necessary action to communicate these
instructions to all the Divisional Sub Treasuries / Sub
Treasuries / Drawing and Disbursing Officers
under their jurisdiction for strict compliance. They further instructed to verify
the maintenance of watch registers of partial withdrawal during their annual
inspection of Treasuries under their jurisdiction.
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