NPS Pension Wealth contribution

Following the New Pension Scheme and NPS Tier 2 offerings, if you have invested in the scheme, here are details on how you can withdraw your investment and know about your contribution (balance) and more…

Exiting NPS (Withdrawal case)

Note that unless there is a case of Death, one may not withdraw 100% of the pension contribution.

Exiting before 60 years of age: In this case you have to invest at least 80% of the Pension wealth to purchase annuity plan in any IRDA regulated Insurance company. The rest 20% can be withdrawn in a Lump sum amount.

Exiting the Scheme after attaining 60 years: In this case you have to invest at least 40% of your pension contribution to purchase an annuity plan in any IRDA regulated Insurance company. Rest can be withdrawn as a lump sum amount.

Note that you may also invest more than 40% into annuity if you may wish to. In addition to that you can choose to withdraw the remaining amount in a phased manner till attaining 70 years instead of one time Lump sum amount.

In case of death: In this case, the nominee would be able to take 100% of the NPS pension wealth in Lump sum amount.

Know Balance and get Statement of Transaction

To know your contribution till date or to know any further information about NPS, you may call the toll free number 1800 222 080 and register your request. You will need to have your T Pin ready to authenticate yourself. The Statement of Transaction (SOT) will then be sent to your registered email address, free of charge.

Or, you can also create a member subscribers’ account here and know your balance.

Using any of the above above two ways, you can get SOT’s for last 3 years. In case you need to get a official physical copy of your SOT, you can get it from the Point of Presence (POP) where you make your contributions.

Note: If you have recently applied for a PRAN and want to know its status, you can get it by registering yourself as a member at the same link given above. You will need a receipt number provided by your POP while applying (if you are a Government employee, please contact your employer). On average, it takes about 3 weeks to setup one’s PRAN and once a number is generated, you will get it to your mobile and your registered email address.