Simplification of Withdrawal Process- Grameen Dak Sevaks (GDS) covered under NPS-Lite Swavalamban

Simplification of withdrawal process - Documentary requirements for subscribers belonging to Grameen Dak Sevaks (GDS) who are covered under NPS-Lite-Swavalamban

PFRDA
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A,Chhatrapati Shivaji Bhawan
Qutab Institutlona Area,
Katwaria Sarai, New Delhi-110016

CIRCULAR

PFRDA/2016/12/Exit/04
08.06.2016

To,
NPS Trust/CRA/Aggregators & other stakeholders

Simplification of withdrawal process - Documentary requirements for subscribers belonging to Grameen Dak Sevaks (GDS) who are covered under NPS-Lite-Swavalamban

This is with reference to feedback received from the concerned stakeholders comprising the subscribers belonging to NPS-Lite-Swavalamban including Grameen Dak Sevaks (GDS) on simplification of the procedural requirements basing on the low contribution levels and the level of awareness and literacy among the target segment of population covered under this category. The Authority has examined the matters pertaining to this category basing on the withdrawal applications received and the feedback from the withdrawal processing of these applications in order to identify the difficulties being faced and with a view to reduce the procedural burden in the interest of the subscribers.

Based on the examination of the issues concerned, the Authority has decided to simplify some of the documentary requirements and processes which are detailed as below in order to streamline the withdrawals processing of applications received under NPS-Lite-Swavalamban including the subscribers of GDS.

The following documents would be accepted as acceptable documents for processing of such withdrawal claims:

1) Certification by Nodal office - as acceptable proof of Know Your Customer (KYC) norms and Other Details - as per Annexure l

2) Revised Request cum Undertaking form for exercising the option to withdraw the entire accumulated corpus in terms of Regulation 5 (a) (ii) of PFRDA (Exits and Withdrawals under NPS) Regulation , 2015 - as per Annexure II

3) Further, the requirement of self-attestation of photograph by the subscriber for NPS-Lite- Swavalamban subscribers including GDS subscribers has been waived off. However, the requirement of photograph shall continue to apply.

Yours faithfully,

Sd/-
(Venkateswarlu Peri)
General Manager

Click here to view Certificate and Form

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