How To Delete NPS Account.
You are in this page because you want to know how to close, deactivate, cancel or delete your National Pension System (NPS) account.
If yes, then you are in the right platform.
Meanwhile, the National Pension System (NPS) is a voluntary defined contribution pension system in India. So the National Pension System, like PPF and EPF is an EEE instrument in India where the entire corpus escapes tax at maturity and the entire pension withdrawal amount is tax-free.
The scheme encourages people to invest in a pension account at regular intervals during the course of their employment. After retirement, the subscribers can take out a certain percentage of the corpus. As an NPS account holder, you will receive the remaining amount as a monthly pension post your retirement.
How To Delete NPS Account
NOTE: If you do not wish to continue your NPS account or defer your Withdrawal, you can exit from NPS anytime.
Follow these steps below to Exit from NPS:
Step 1. Log in to the CRA system (www.cra-nsdl.com) using your User ID (PRAN) and Password.
Step 2. Click on the “Exit from NPS” menu and click on the “Initiate Withdrawal request” option
Step 3. Enter necessary details including choice of Annuity Service Provider (ASP) and Annuity Scheme which will provide you a pension.
Step 4. Once the details are submitted, you need to print the system generated Withdrawal Form, paste photograph, sign across the photograph and against the declaration, and submit the form along with KYC documents to the respective Nodal Office, in case of the Government sector and from Point of Presence (POP), in case of All Citizens of India & Corporate sector.
Step 5. The Nodal Office will verify the form along with the attached documents and authorized the withdrawal request online in CRA.
Step 6. If you are not able to raise withdrawal requests online, you can fill up the physical Withdrawal Form and submit it to the respective Nodal Office/POP who will initiate the online withdrawal request on your behalf. You can download Withdrawal Form from the Forms section under the respective sector on this website.
Has this article helped you?
If Yes!, don’t forget to share your opinion in the comment box below.
Meanwhile, remember also to share this article on your social media handle…