How To Get NPS Partial Withdrawal Amount In Your Bank Account?

For the benefit of the subscriber, PFRDA has taken a number of digital steps to mitigate delivery window for most of its operations and functions. Selective withdrawal has now been rendered digitally and paperless, which were formerly physically treated, PFRDA has now allowed NPS subscribers to fulfill their individual needs, in this era of digital transition. Subscribers under NPS can now make partial withdrawal of 25 percent of their self-contribution after 3 years of entering the scheme as authorized by PFRDA after 3 years of entering the system to satisfy their particular needs. Currently, in order to validate the factors for their partial withdrawals, the eligible subscribers need to address their application for partial withdrawal to the relevant nodal officers/Points of Presence (POPs) along with the supporting documents.

This initiative was undertaken by PFRDA to streamline the self-declaration-based partial withdrawal process and guarantee smoother payment of the partially withdrawn amount into the bank account of the subscriber. In the Central Record Keeping Agency (CRA) system, partial withdrawal applications are submitted electronically and are processed directly. Although the electronic withdrawal facility is approved, the current offline withdrawal facility shall continue and the subscribers still have the freedom to submit offline applications to the relevant POPs/Nodal officers.

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