new Delhi. During the Corona period, PFRDA is constantly making various changes in the National Pension System (NPS). Previously, the facility of opening accounts at home was provided through OTP. At the same time, some other facilities have also been added to it. Till now pension fund Regulatory and Development Authority (PFRDA) had the facility to exit NPS scheme only in offline mode. But with the new changes, pensioners can now apply for online exit at home. For this, they will not have to visit NPS center again and again.
In order to exit the NPS scheme, the first subscriber had to physically attend the center. Also, many types of documents had to be submitted, but now these rules have also been made easier by PFRDA. Now there will not be much documentation required for online exit. Subscriber can submit documents online through withdrawal document OTP or electronic signature. Through this, they can easily get out of NPS.
This will be the process of exit
To exit from the scheme, the subscribers have to send the exit request to the Central Record Keeping Agency (CRA). For this, they can apply online. Subscriber will have to upload the corpus allocation for NUT along with the NUT service provider and the withdrawal document of the annuity scheme. During this time, his KYC will also be sought. In which the pensioner will have to upload their Aadhar card and photo copy of PAN card. After this, the subscriber’s bank account will be identified under POP penny drop. After document verification, the subscriber will have to pay the processing fee for the Vidral request. This will be 0.125 percent of the total corpus. That is, you have to pay a minimum fee from ₹ 125 to a maximum of ₹ 500.