PFRDA extends on-line exit course of choice to authorities sector subscribers

The Pension Fund Regulatory and Development Authority (PFRDA) has prolonged the choice of on-line, paperless strategy of exit to subscribers within the authorities sector. Earlier, solely non-government sector subscribers loved the end-to-end facility of the web exit course of.

National Pension Scheme (NPS) subscribers in non-government sectors are at the moment empowered with complete end-to-end digitally enabled options to meet their evolving wants.

PFRDA in a launch mentioned, “The online exit would be integrated with Instant Bank Account Verification as per the existing guidelines as part of enhanced due diligence in the interest of Subscribers. The facility would also be available to the employees of Autonomous Bodies of Central/State Government who are covered in NPS.”

Further, the Central Record Keeping Agencies (CRAs) must allow the required technical functionalities earlier than 30 October, 2021.

“Nodal Officers of Government Sector will play a larger role to educate their employees about the process of online exit which not only benefit Subscribers but also the nodal officers by freeing them from handling paper-based documents and dispatching those papers to the associated CRA for record keeping,” it mentioned

NPS subscribers are inspired to make the most of the choice of on-line exit which ensures well timed strategy of exit and seamless difficulty of annuity-by-Annuity Service Providers (ASP).

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