a subscriber shall submit the withdrawal application along with the required documents, for the purpose of withdrawing the benefits upon exit as provided in these regulations, on or before the expected date of exit from the National Pension System to the National Pension System Trust or the central recordkeeping agency, acting on behalf of it or any other entity authorized by the Authority.
central recordkeeping agency or National Pension System Trust may on receipt of such an application for exit or withdrawal from a subscriber in the specified form and subject to fulfillment of conditions so specified, may allow exit or withdrawals from the National Pension System in the mode and manner permitted under these regulations and guidelines, circulars, orders or notifications issued by the Authority for the purpose:
21 Inserted by PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017 w.e.f. 10.08.2017 22 Substituted by PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017 w.e.f. 10.08.2017. Prior to the substitution, it read as “Conditions of withdrawals under National Pension System.- The National Pension System Trust or the central recordkeeping agency acting on behalf of the National Pension System Trust or any other entity authorized by the Authority for the purpose , may on receipt of an application for withdrawal from a subscriber in the specified form and subject to fulfillment of conditions so specified may allow withdrawal from the National Pension System in the mode and manner permitted under these regulations, guidelines, circulars, orders or notifications issued by the Authority from time to time:”
Provided that the subscriber shall be required to submit the application form for withdrawal, specified for the purpose, along with documents, so specified and comply with the requirements contained in the operational guidelines issued by the Authority with respect to the permissible withdrawals under the National Pension System.
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