CPS WITHDRAWALS

EXIT RULES FOR STATE GOVT EMPLOYEES

1. Withdrawal on Superannuation for Government Employees. 2. Withdrawal before the Age of Normal Superannuation for Government Employees. 3. Withdrawal by Claimant due to Death of Government Employees.

WITHDRAWAL ON SUPERANNUATION FOR GOVERNMENT EMPLOYEES

Documents to be enclosed with the application  

• PRAN card in original. In case PRAN card is not available, the subscriber needs to submit a duly notarized Affidavit as to the reasons of non-submission of the PRAN card.
• Cancelled cheque (containing subscriber name, Bank account number and IFS Code) or Bank Certificate Containing Name, Bank Account Number and IFSC code for dirct credit or electronic transfer.
• A PRE-SIGNED receipt acknowledging the receipt of the proceed under NPS by the subscriber.
• In addition to the PRAN card any other Identification and address proof of the subscriber. 

FOR IDENTIFICATION AND ADDRESS PROOF are as mentioned below:

1. Ration card
2. Bank pass book
3. Credit card with photograph, latest telephone bill, electricity bill
4. Passport
5. Aadhar Card
6. Voter ID card
7. Driving license
8. PAN card
9. Final relieving certificate from government service on superannuation, if the application for withdrawal is submitted through the Points of Presence (POP) 
10. Certificate of identity with photograph signed by MP or MLA or MUNICIPAL COUNCILOR or GAZETTED OFFICER

GENERAL INSTRUCTIONS

Percentage of allocation for amount to be withdrawn as Lump-sum and amount to purchase life annuity. Subscriber can withdraw maximum 60% of pension wealth and is required to transfer minimum 40% of pension wealth to annuity. For example, for a total corpus of Rs.1000, if subscriber wants Rs.300 as Lump-sum and Rs.700 for annuitisation, subscriber to select 30% and 70%. Please select the type of lump-sum withdrawal as one-time or phased. For example, a total corpus of Rs1000/- subscriber has selected Rs. 300/- as lump-sum amount. For one time withdrawal subscriber will be given Rs. 300/- as lump-sum amount on processing of withdrawal request. For phased withdrawal subscriber will be given minimum of 10% i.e., Rs 30 for the period of 10 years, at the age of 70 years, subscriber would compulsorily withdraw any amount lying to their credit.

WITHDRAWAL FORMS ON SUPERANNUATION FOR GOVERNMENT EMPLOYEES

Contd. WITHDRAWAL BEFORE THE AGE OF NORMAL SUPERANNUATION WITHDRAWAL CLAIMANT DUE TO DEATH