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Exit/Withdrawal from the NPS system can be of the following types:
  • Upon Normal Superannuation – At least 40% of the accumulated pension wealth of the Subscriber has to be utilized for purchase of annuity providing for monthly pension of the Subscriber and the balance (Maximum 60 %) is paid as lump sum to the subscriber.
  • Upon Death – The entire accumulated pension wealth (100%) would be paid to the nominees/legal heir(s) of the Subscriber and there would not be any purchase of annuity/monthly pension
  • Exit from NPS Before the age of Normal Superannuation – At least 80% of the accumulated pension wealth of the Subscriber should be utilized for purchase of an annuity providing the monthly pension of the Subscriber and the balance (maximum 20%) is paid as a lump sum to the Subscriber.
  • Tier II account – Subscribers can withdraw their accumulated wealth in Tier II account at any point of time. If a Subscriber has a Tier II account, Withdrawal for tier II will automatically happen if Tier 1 Exit request (except partial Withdrawal) has been received. Both accounts will be settled separately and as per instructions available in the account (in case there are different Nominees / bank accounts) Partial Withdrawal – This is allowed under special circumstances. For the detailed process, kindly refer the Withdrawal SOP


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