– New Pension System account are having certain set of rules with condition for withdrawal and closure of account. There are different rule for closure of tier I as well as tier II account separately.
The subscriber who wishes to close or withdraw from the existing NPS need to follow the instruction as mention below :
- Subscriber need to fill the withdrawal application form which will be available to any of the POP-SP or may be downloaded here for Tier II
- Following documents are required to be submitted along with the withdrawal forms :
- PRAN card in original
- Attested copy of proof of identity (e. g. Passport, Aadhar Card, PAN Card, valid Driving License, Voter ID Card etc.)
- Attested copy of proof of address (e. g. Passport, Aadhar Card, Valid Driving License, Voter ID Card etc.)
- Cancelled cheque (containing Subscriber Name, Bank Account Number and IFSC Code) or Bank Certificate containing Name, Bank Account Number and IFSC code, for direct credit to the account through NEFT or RTGS or ECS.
Read : How To Transfer Funds To NPS Account ?
Once the withdrawal request received correctly by the Service Provider or your bank, it will be sent to respected POP for verification. Once the POP authenticate the document and withdrawal request then it will be forwarded to Central Record-keeping Agency (CRA) the National Security Depository Limited (NSDL).CRA will register and settle the claim.