NPS CPS 25% Partial Withdrawal Instructions Memo:3058

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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.

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 Officers PAOS for processing Online Partial Withdrawal request initiated by the subscriber in the CRA system:

1. 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. 

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. 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 Officer.2 (TOPAO) 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 Officer.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 toVerify the maintenance of watch registers of partial withdrawal during their annual inspection of Treasuries under their jurisdiction.

CPS 25% Partial Withdrawal Application

CPS 25 % Partial Withdrawal Self Declaration