A subscriber on the date of submission of the withdrawal form, shall be permitted to withdraw not exceeding twenty-five percent of the contributions made by such subscriber to his individual pension account, for any of the following purposes only:-A.) Purpose:-
On examination of the procedures envisaged by the Pension Fund Regulatory and Development Authority in such matters, the following comprehensive guidelines are issued to all the Subscribers / Nodal Officer.3 (000) / Nodal Officer.2 (Treasury / PAO), for seamless process:
a.) Employee / Subscriber, who is completed three (03) years' of service, shall submit Partial Withdrawal request, to the Nodal Officer.3 (DDO) concerned, through Online CRA System.
b.) Subscriber shall specify certain mandatory information, viz., Percentage of Partial Withdrawal (Max. 25%), Purpose of Withdrawal along with documents / proof for the same.
c.) Subscriber / Employee shall key-in correct bank account details along with proof (Cancelled cheque / Attested copy of Bank Passbook / Attested copy of Bank account statement/ Bank certificate).
d.) Subscriber shall affix his / her signature / Thumb impression on the form at the designated place and submit the same to the Nodal Officer.3 (Drawing and Disbursing Officer) concerned.
e.) The Nodal Officer.3 (Drawing and Disbursing Officer) shall check the request submitted by the Subscriber with respect to completeness. He / She shall verify the details of bank account of subscriber with the pay-rolls and also verify the veracity of the claim with respect to purpose of the partial withdrawal request along with supporting documents.
f.) After satisfying with the request of Subscriber / Employee, the Nodal Officer.3 (DDO) shall forward the request along with covering letter to the mapped Treasury / PAO (Nodal Officer.2) in duplicate.
g.) On receipt of physical copy of Partial Withdrawal request from the Nodal Officer.3 (Drawing and Disbursing Officer) in duplicate, the Treasury Officer / PAO (Nodal Officer.2) shall check the information captured in CRA System with physical documents, viz., Name of the Claimant / Subscriber / Employee, Date ofentry into Service, Registered Contact No. and Register mail-ID with CRA, Signature of the Subscriber / Employee, authenticity of the claim, etc. and "Authorize" or "Reject" the request; and send the physical documents to the Central Record-keeping Agency, without any delay, for further processing. Extra copy will be stored by Nodal Officer.2 (Treasury / PAO).
h.) He / She shall maintain watch register in the proforma prescribed (annexed herewith) and update it at different stages of the withdrawal process. The Deputy Director, District Treasury concerned shall verify this register and watch the status of the withdrawals and updation of records at periodical intervals.
i.) On receipt of Partial Withdrawal request from the Nodal Officer.2 (Treasury / PAO) in physical mode and Online mode, Central Record keeping Agency will process the request in CRA System and funds will be directly transferred to Subscribers' bank account through electronic mode on T + 3 basis, as mentioned in the Partial Withdrawal request.
j.) In case the Subscriber is unable to submit such request due to illness, the family member of the Subscriber / Employee can apply for Partial withdrawal request. Nodal Officer.3 (DDO) must satisfy themselves about the genuineness of such claim and ensure that the bank account provided is that of the Subscriber only.
Based on different types of partial withdrawal requests, the following documents have been prescribed for the convenience of the Subscribers / Nodal Officer.3 (DDO) / Nodal Officer.2 (Treasury / PAO) and for seamless process of such requests:-
NPS - CPS - Partial Withdrawals - Documents to be submitted for partial withdrawal