Jammu, Jan 11: Government sector subscribers will not have a facility to raise partial withdrawal, also termed conditional withdrawal, request through their Central Record-keeping Agency (CRA) system logins.
As per Pension Fund Regulatory and Development Authority (PFRDA) directives, all the subscribers of central, state government and their autonomous bodies will submit their requests through their associated nodal offices.
The directives have already come into force with effect from January 1, 2023
“As directed by PFRDA through its circular, after January 1, 2023, government sector subscribers desirous of availing partial withdrawal facility will be required to fill up the form (available on PCRA portal) and submit the same to their DDO for raising a request in CRA system on behalf of the subscriber,” read a communiqué issued to all Treasury Officers of Kashmir province by the Directorate of Accounts and Treasuries Kashmir of Finance Department.
“Once this request is raised, the same shall be displayed in the CRA system to the mapped Treasury (Nodal Office) for final authorization. After authorization by the concerned Treasury Officer (once received the requisite documents from the subscriber/DDO), the partial withdrawal funds shall be credited to subscribers’ registered bank account as per extant settlement timelines,” the communiqué has mentioned explaining the procedure.
PFRDA on January 1, 2021 had issued a circular on partial withdrawals under NPS through self-declaration for the benefit of subscribers as a special dispensation to cope with the COVID pandemic in order to protect the subscribers' interest and ease the burden of nodal officers including POPs from verification and authorization.