Partial Withdrawal All Citizen

 

Upon attaining the age of 60 years-Normal Exit

 

Annuitization – Minimum of 40% of accumulated pension wealth will be utilized for monthly annuity or pension. However, subscriber has the option to utilize more than 40% of accumulated pension wealth for purchase of annuity.

Lumpsum – Remaining 60% of accumulated pension wealth shall be paid to the subscriber

If the accumulated pension wealth is equal to or less than 5 lakhs then entire amount can be withdrawn as lumpsum

 

Exit before attaining the age of 60 (sixty) years – Premature Exit

 

Annuitization – Minimum of 80% of accumulated pension wealth will be utilized for monthly annuity or pension.

Lumpsum – Remaining 20% of accumulated pension wealth will be paid to the subscriber.

In case the total corpus in the NPS account is less than or equal to Rs. 2.5 lakh, the Subscriber can avail the option of complete (100%) Withdrawal.

 

Exit due to physical incapacitation or suffering bodily disability before the age of 60

(sixty) years – Normal Exit

 

A person is eligible for exit from NPS in case of physical incapacitation or suffering bodily disability leading to incapability to continue under NPS

A disability certificate from a Government surgeon or doctor (treating such disability or invalidation of subscriber) stating the nature and extent of disability and also certifying that:

(a). The affected subscriber shall not be in a position to perform his regular duties and there is a real possibility of the affected subscriber, being not able to work for the remaining period of his life.; and

(b). Percentage of disability is more than seventy-five percent in the opinion of such Government surgeon or doctor (treating such disability or invalidation of subscriber)

Exit norms are same as normal exit (upon attaining the age of 60)

 

Exit due to death before attaining the age of 60 years

 

The entire accumulated pension wealth of the deceased subscriber shall be paid to the nominee(s) or legal heir(s).

 

Exit provisions – for subscriber joined NPS between age of 60 to 70 year

 

•       You can exit at any point of time, before attaining age of seventy-five years. However, your benefits at exit may vary depending upon the subscribed period (before or after completing three years from the date of joining of NPS).

Exit after completing three years

•       Annuitization – Minimum of 40% of accumulated pension wealth will be utilized for monthly annuity or pension. However, subscriber has the option to utilise more than 40% of accumulated pension wealth for purchase of annuity.

•       Lumpsum – Remaining 60% of accumulated pension wealth shall be paid to the subscriber

Entire accumulated pension wealth can be withdrawn if the amount is equal to or less than a sum of five lakh rupees.

Exit before completing three years:

Annuitization – Minimum of 80% of accumulated pension wealth will be utilized for monthly annuity or pension. Lumpsum – Remaining 20% of accumulated pension wealth will be paid to the subscriber.

 

Exit provisions – for subscriber joined NPS between age of 60 to 70 year

 

Death:

The entire accumulated pension wealth of the subscriber is payable to the nominee or legal heirs.