Home / Money / Personal Finance /  PFRDA reduces timelines for withdrawal of various transactions under NPS

The intermediaries of Pension Fund Regulatory and Development Authority (PFRDA) -- Central Recordkeeping Agencies (CRAs), Pension Funds (PFs) and Custodian -- have improved the system interface and enhanced their IT capabilities to reduce the timelines of various transactions under NPS to provide a better subscriber experience to fulfil their evolving needs.

The withdrawal requests of subscribers will now be reduced from T+4 to T+2 days. The regulator PFRDA, said, “The withdrawal requests of subscribers at the time of exit were hitherto executed on T+4 working/settlement days (T being the day of authorization of withdrawal request by Nodal office/PoP/Subscriber) and the timeline has been reduced to T+2."

The reduced timelines of final exit from NPS, which would benefit the subscribers associated with the respective CRAs are provided below:

Subscribers associated with Protean eGov Technologies CRA, for them any request will have to authorized up to 10:30 AM will be settled on T+2 basis. Subscribers associated with KFin Technologies Ltd & CAMS CRAs, for them any requests authorized up to 11 AM will be settled on T+2 basis, said the regulator.

Navneet Dubey
Navneet Dubey is a personal finance writer and artist. Over the past decade, he has written feature stories on insurance, financial planning, lending and borrowing.
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