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NPS Online Withdrawal Process - Superannuation and Premature Exit

Learn about the online withdrawal process for the National Pension System (NPS) for superannuation and premature exit requests. Find out how to initiate and authorize withdrawal requests, submit necessary documents, and view and print withdrawal forms.

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NPS Online Withdrawal Process - Superannuation and Premature Exit

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  1. Online Withdrawal Process applicable from April 1, 2016 Capturing of Superannuation / Premature exit request by Nodal Office

  2. Exit Process A subscriber can exit from National Pension System (NPS) Upon attainment of the age of 60 years (Retirement / Superannuation) At any time before attaining the age of 60 years (Premature Exit) Death of the subscriber

  3. Superannuation Up to 60% of total corpus can be withdrawn as lump sum & Minimum 40% to be used for Purchase of Annuity If corpus is less than Rs. 2,00,000, the entire amount can be withdrawn Employer to stop deduction at least three months prior to the date of Superannuation

  4. Pre-mature Exit Up to 20% of total corpus can be withdrawn as lumpsum& Minimum 80% to be used for Purchase of Annuity If corpus is less than Rs. 1,00,000, the entire amount can be withdrawn Applicable only after subscriber resigned from Government job

  5. Annuity Quotes To get the Annuity Quotes, click here To view annuity quotes, visit our website www.cra-nsdl.com

  6. To view Annuity Quotes for various pension plans, “Click Here”

  7. Enter necessary details to get the corresponding pension amount

  8. Process Flow Subscriber Online Withdrawal request & submission of documents If rejected Nodal Office Verification of Online Withdrawal request and authorisation of documents Processing of Withdrawal Request in CRA system Subscriber Transfer of funds by Trustee Bank

  9. Initiating the request Claim ID is generated six months in advance for the subscriber who are attaining 60 years of age Claim IDs intimated to subscriber through Email, SMS and Letter List of Claim IDs awaiting action is available in Nodal Offices login

  10. Required Document Subscriber has to submit following documents for processing of Withdrawal request Duly filled Withdrawal Form KYC Documents (ID Proof & Address Proof) Bank proof

  11. This video demonstrates how Nodal Offices would capture a withdrawal request (Superannuation / Pre-Mature) in CRA System to exit from NPS

  12. https://cra-nsdl.com/CRA/ To initiate withdrawal process, the user needs to go to

  13. Enter your user ID and password Nodal Office has two user ID’s. One can be used to initiate the withdrawal request and the other to authorise withdrawal request

  14. 1001028800 **********

  15. Initiating the request

  16. Click on “Exit Withdrawal Request” Click on “Initiate Withdrawal Request” to initiate withdrawal request of subscriber

  17. Enter the 12 digit PRAN of the subscriber 110051132967

  18. Select withdrawal option

  19. Once you select withdrawal option, you need to select withdrawal type ‘Full Withdrawal’ or ‘Deferred Withdrawal’

  20. If User is selecting, deferred withdrawal, these three options are available

  21. If the total corpus amount is below 2 lakhs at the time of retirement, subscriber can opt for 100% withdrawal User needs to enter withdrawal percentage. 60 100 40

  22. Verify the details entered by you and click “Proceed” to continue. In case user wish to edit any details, please click “Cancel”

  23. User need to select transaction type “Electronic”

  24. Nodal Office has to enter last drawn salary bank account details of subscriber Click “Edit” to change subscriber bank details if required. Subscriber withdrawal amount will be transferred to this bank account.

  25. Select transaction type “Electronic”

  26. Please enter subscriber bank detailsalong with his/her email ID and mobile number 20357921459 ALLA0212162 ALLAHABAD BANK DRM OFFICE NEW DELHI 110031 110010059 9004088036 yogesha@gmail.com

  27. Click “Edit” button to enter/update subscriber nomination details

  28. Enter nomination details such as Name, Relationship with nominee, Major/Minor, % Share and in case of minor, Guardian Name. Fields marked by * are mandatory Click “Add” button if subscriber wants to add additional nominees. Maximum 3 nominees can be added.

  29. Click confirm button to submit nomination details

  30. User need to select these two documents

  31. User will click on “submit” button to complete subscriber withdrawal request

  32. You can verify all the submitted details and then click on “Confirm” button

  33. Click on “Confirm” button

  34. Once the withdrawal request is captured successfully, an Acknowledgement Number will be generated. You can view and print subscriber withdrawal form by clicking on the highlighted link.

  35. Thank you for viewing the demonstration. In case of any assistance, please contact CRA.

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