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TMI BlogUtilisation of Accumulated Pension Wealth on exit from the National Pension System for CorporatesX X X X Extracts X X X X X X X X Extracts X X X X ..... Utilisation of Accumulated Pension Wealth on exit from the National Pension System for Corporates - News and Press Release Dated:- 1-8-2014 - News - As per the rules regarding exit of government employees from the National Pension System (NPS) before the age of normal superannuation, at least 80% of the accumulated pension wealth of the subscriber needs to be utilised for purchase of annuity pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viding for monthly pension to the subscriber and the balance is to be paid as a lump-sum payment to the subscriber. A subscriber at the time of exit from NPS can lodge his claim through his/her nodal office at NPS Claims Processing Cell (NPSCPC) at Central Recordkeeping Agency (CRA). The Pension Fund Regulatory and Development Authority (PFRDA) settle the claims of the subscribers who have lodg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed their claims along with complete set of documents with NPS Claims Processing Cell through the CRA The details of the NPS account settled in Government Sector are: Sector No. of PRANs Total amount disbursed (Rs.) Central Government 431 27,890,438.19 State Governm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent 46 3,748,157.53 All contributions received from Government and employees are accounted for and invested once they are uploaded in the CRA System by the concerned Government department. This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today. - News - P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ress release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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