Premature exit of NPS Lite Swavalamban Subscribers

Document text

Circular Cir. No. PFRDA/2021/21/SUP-NPST/1 July 02, 2021 To, All NPS Swavalamban Subscribers and associated Stake holders Subject – Premature exit of NPS Lite Swavalamban Subscribers. Please refer PFRDA Exit and Withdrawal Regulations 6th Amendment, 2019. The copy enclosed for ready reference. 2. As per the 6th Amendment of Exit Regulations, the Swavalamban Subscribers whose accumulated pension wealth do not exceed one lakh rupees and if they are not eligible to migrate to Atal Pension Yojana (APY), can opt to prematurely exit with lump sum payment. 3. Those eligible Subscribers as mentioned above are not required to continue in the Swavalmban scheme for minimum period of twenty-five years irrespective of the receipt of Govt of India (GoI) co-contribution under Swavalamban by them. However, if GoI’s co-contribution was availed by those eligible Subscribers and the same shall be deducted along with the returns generated from the corpus at the time of their exit. 4. The accumulated corpus of those Swavalamban Subscribers as mentioned in point no (2) is to be calculated after deducting Government's co-contribution, if any, and the returns thereon. 5. For example, a Swavalamban Subscriber who is aged 43 Years ( who could not be migrated to APY) has a corpus of Rs 1,04,000 in his Swavalamban PRAN and out of which, GoI’s co-contribution and returns constitute Rs 4500. The Subscriber shall be eligible for premature exit since the accumulated corpus in the PRAN would be Rs 99500( Rs 104000-Rs 4500=Rs 99500). 6. Those Swavalamban Subscribers who fulfill the above criteria, and if they wish to prematurely exit, can submit their withdrawal claims to the associated POPs/Aggregators. Central Record Keeping Agency (CRA) is advised to communicate to the eligible Swavalamban Subscribers and POP/Aggregators about the clarification thus provided above. This circular is issued under section 14 of PFRDA Act 2013 and is available at PFRDA's website (www.pfrda.org.in) under the Regulatory framework in "Circular" section. Yours sincerely K. Mohan Gandhi General Manager k.mohangandhi@pfrda.org.in 4935 GI/2019 (1) jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99 vlk/kj.k EXTRAORDINARY Hkkx III—[k.M 4 PART III—Section 4 izkf/dkj ls izdkf'kr PUBLISHED BY AUTHORITY la- 331] ubZ fnYyh] lkseokj] flrEcj 23] 2019@vkf'ou 1] 1941 No. 331] NEW DELHI, MONDAY, SEPTEMBER 23, 2019/ ASVINA 1, 1941 पशन िनिध िविनयामक और िवकास ािधकरण पशन िनिध िविनयामक और िवकास ािधकरण पशन िनिध िविनयामक और िवकास ािधकरण पशन िनिध िविनयामक और िवकास ािधकरण अिधसूचना अिधसूचना अिधसूचना अिधसूचना नई दली, 20 िसत बर, 2019 पशन िनिध िविनयामक और िवकास ािधकरण (राीय पशन णाली के अंतगत िनकास और याहरण) (छठा संशोधन) पशन िनिध िविनयामक और िवकास ािधकरण (राीय पशन णाली के अंतगत िनकास और याहरण) (छठा संशोधन) पशन िनिध िविनयामक और िवकास ािधकरण (राीय पशन णाली के अंतगत िनकास और याहरण) (छठा संशोधन) पशन िनिध िविनयामक और िवकास ािधकरण (राीय पशन णाली के अंतगत िनकास और याहरण) (छठा संशोधन) िविनयम िविनयम िविनयम िविनयम, 201 201 201 2019 सं.पीएफआरडीए/ सं.पीएफआरडीए/ सं.पीएफआरडीए/ सं.पीएफआरडीए/12 /आरजीएल/ /आरजीएल/ /आरजीएल/ /आरजीएल/139/8.–पशन िनिध िविनयामक और िवकास ािधकरण अिधिनयम, 2013 (2013 का 23) क धारा 52 क उपधारा (2) के खंड (छ), (ज) तथा (झ) के साथ प$ठत उसक उपधारा (1) 'ारा द( शि)य* का योग करते -ए, पशन िनिध िविनयामक और िवकास ािधकरण एतद् 'ारा पशन िनिध िविनयामक और िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) िविनयम, 2015 म संशोधन करते -ए िन5 िविनयम बनाता है, नामत: - 1. इन िविनयम* का नाम पशन िनिध िविनयामक और िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) (छठा संशोधन) िविनयम, 2019 है I 2. यह िविनयम शासकय राजप7 म उनके काशन क ितिथ से वृ( ह*गे I 3. पशन िनिध िविनयामक और िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) िविनयम, 2015 म:- (I) िविनयम 5 के उप-िविनयम (ख) के दूसरे और तीसरे ावधान को िन5ानुसार ित?थािपत कया जायेगा :- पर@तु यह क जहां संिचत पशन धन एक लाख Cपए से अिधक नहD है या ािधकरण 'ारा िविनFद2G क जाने वाली कोई सीमा के अंतग2त है, सपूण2 पशन धन को वाIष2ककृत कए िबना ऐसे अिभदाताM को, िज@ह*ने ?वावलंबन सह- अंशदान नहD िलया है या िजसने ?वावलंबन के तहत सरकारी सह-अंशदान का लाभ तो उठाया है लेकन लेकन अटल 2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4] पशन योजना म ?वतःवसन के िलए अयोPय है, सरकार के सह-अंशदान को उस पर जिनत $रट@स2 क कटौती के पRात्, योजना म @यूनतम 25 वषS क अविध तक जारी रहने क आवUयकता के िबना, वापस कर दया जाएगा I "प#ीकरण "प#ीकरण "प#ीकरण "प#ीकरण- ?वावलंबन अिभदाताM अथवा अिभदाताM का भारत सरकार क कसी अ@य पशन योजना, िजसम अटल पशन योजना भी शािमल है, म ािधकरण क अनुVा से कये गए वसन को इन िविनयम* के योजनाथ2 िनकास नहD माना जाएगा I रिव िम$ल रिव िम$ल रिव िम$ल रिव िम$ल, , , , अ%य& अ%य& अ%य& अ%य& [िव-III/4/असा. /219/19] पादलेख: पादलेख: पादलेख: पादलेख: 1. मूल िविनयम, पशन िनिध िविनयामक तथा िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) िविनयम, 2015, भारत के राजप7 म 11 मई 2015 को, सं.पीएफआरडीए/12 /आरजीएल/139/8 के मा]यम से कािशत कये गए थे I 2. पशन िनिध िविनयामक तथा िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) (थम संशोधन) िविनयम, 2017, भारत के राजप7 म 10 अग?त 2017 को, सं. पीएफआरडीए/12 / आरजीएल / 139/8 के मा]यम से कािशत कये गए थे I 3. पशन िनिध िविनयामक तथा िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) (दूसरा संशोधन) िविनयम, 2017, भारत के राजप7 म 6 अ`टूबर 2017 को, सं. पीएफआरडीए/12 /आरजीएल/139/8 के मा]यम से कािशत कये गए थे I 4. पशन िनिध िविनयामक तथा िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) (तीसरा संशोधन) िविनयम, 2018, भारत के राजप7 म 02 फरवरी 2018 को, सं. पीएफआरडीए/12 / आरजीएल/139/8 के मा]यम से कािशत कये गए थे I 5. पशन िनिध िविनयामक तथा िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) (चौथा संशोधन) िविनयम, 2018, भारत के राजप7 म 18 मई 2018 को, सं. पीएफआरडीए/12 /आरजीएल/139/8 के मा]यम से कािशत कये गए थे I 6. पशन िनिध िविनयामक तथा िवकास ािधकरण (रा0ीय पशन णाली के अंतग2त िनकास और 3याहरण) (पांचवा संशोधन) िविनयम, 2018, भारत के राजप7 म 19 फरवरी 2019 को, सं. पीएफआरडीए/12 / आरजीएल/139/8 के मा]यम से कािशत कये गए थे I PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION New Delhi, the 20th September, 2019 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (EXITS AND WITHDRAWALS UNDER THE NATIONAL PENSION SYSTEM) (SIXTH AMENDMENT) REGULATIONS, 2019 No. PFRDA/12/RGL/139/8.— In exercise of the powers conferred by sub-section (1) of Section 52 read with sub-clause(g), (h), and (i) of sub-section 2 of Section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act No.23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following ¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3 regulations to amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015 namely, - 1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Sixth Amendment) Regulations, 2019. 2. These shall come into force on the date of their publication in the official gazette. 3. In the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015:- (I). Second and Third proviso to Sub regulation (b) of Regulation 5 shall be substituted as below- Provided further that, where the accumulated pension wealth does not exceed one lakh rupees or a limit to be specified by the Authority, the whole pension wealth shall be paid without annuitisation to the subscribers who have not availed any Swavalamban co-contribution, and also to the subscribers who though have availed Swavalamban co-contribution but are not eligible for auto migration to Atal Pension Yojana, after deducting the Government's co-contribution with returns thereon without requiring them to continue in the scheme for minimum period of twenty-five years. Explanation— The migration of a Swavalamban subscriber to any other pension scheme of Government of India, including Atal Pension Yojana, as approved by the Authority, shall not be deemed as an exit and withdrawal for the purposes of these regulations. RAVI MITAL, Chairperson [ADVT-III/4/Exty./219/19] Footnote: 1. The Principal Regulations ,The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) Regulations, 2015 were published in the Gazette of India on 11th May, 2015 vide No. PFRDA/12/ RGL/139/8. 2. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (First Amendment) Regulations, 2017 were published in the Gazette of India on 10th August 2017 vide No. PFRDA/12/RGL/139/8 3. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (Second Amendment) Regulations, 2017 were published in the Gazette of India on 06th October 2017 vide No. PFRDA/12/RGL/139/8 4. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (Third Amendment) Regulations, 2018 were published in the Gazette of India on 02nd February 2018 vide No. PFRDA/12/RGL/139/8. 5. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (Fourth Amendment) Regulations, 2018 were published in the Gazette of India on 18th May 2018 vide No. PFRDA/12/RGL/139/8. 6. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals Under the National Pension System) (Fifth Amendment) Regulations, 2019 were published in the Gazette of India on 19th Feb 2019 vide No. PFRDA/12/RGL/139/8. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. ALOK KUMAR Digitally signed by ALOK KUMAR Date: 2019.09.24 14:55:17 +05'30'