CPS NEW WITHDRAWAL REGULATIONS 2021

 PFRDA వారు DT:14/06/2021 న ఇచ్చిన నూతన గజెట్ ను అనుసరించి CPS ఉద్యోగులకు సంబంధించిన EXIT&WITHDRAWALS నిబంధనల తో గతంలో ఇచ్చిన GO:62, DT:07/03/2014 ను సవరించి నూతన నిబంధనలతో కూడిన  Cir.Memo.No.D4/3058/2013, DT:27/07/2021 ని జారీ చేసిన సంచాలకులు,DTA, ఇబ్రహీంపట్నం.

Cir. Memo No. D4/3058/2013 Dated:27/07/2021

O/o The Director of Treasuries and Accounts, Andhra Pradesh :: Ibrahimpatnam.

 Sub:- NATIONAL PENSION SYSTEM – PFRDA’s (Exit and Withdrawals under the National Pension System) (Amendment) Regulations,2021 – Instructions to all stake holders in the State – for taking necessary action – Requested- Reg.

Ref:- 01). GO Ms. No. 62, Dated 07/03/2014 of Finance (Pen.I) Department.

         02).PFRDA’s Gazette Notification published on 11.05.2015.

         03). This Office Circular Memo Even No., Dated 04.04.2016 2 21.04.2016. 04). PFRDA’s Gazette Notification published on 14.06.2021.

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Personal attention of all the Treasury Officers / PAOs / Nodal Officer.2 in the State is invited to the subject cited. They are informed that, vide reference 4th cited, the PFRDA have issued Gazette Notification as PFRDA’s (Exit and Withdrawals under the National Pension System) (Amendment)  Regulations,2021 by amending the PFRDA’s regulation issued vide reference 2nd cited where 100% withdrawal eligibility is allowed in the following cases;

i. Sub _ Regulation (a) (V) of Regulation 3 as: The  accumulated  pension wealth in the Permanent Retirement Account of the subscriber is equal to or less than a sum of five lakh rupees, or a limit as specified by the Authority, the subscriber shall have the option to withdraw the entire accumulated pension wealth without purchasing annuity and upon such exercise of this option, the right of such  subscriber to receive any pension or other amount under the National Pension System or  from  the government or employer, shall extinguish;

ii. Proviso 3 of sub-regulation (b) of Regulation 3 as: If the  accumulated pension wealth of the subscriber is equal to or less than two lakh fifty thousand rupees or a limit to be specified by the Authority, such subscriber shall have the option to withdraw the entire accumulated pension wealth without purchasing any annuity and upon such exercise of this option the right of the subscriber to receive any pension or other amounts under the National Pension System shall extinguish and any such exercise of  this option by the subscriber, before the notification of this provision, shall be deemed to have been made in accordance with this regulation;

iii. Sub-regulation (c)(ii) of Regulation 3 as: if the accumulated pension wealth in the permanent retirement account of the subscriber at the time of his death is equal to or less than Five lakh rupees or a limit to be specified by the Authority, the nominee or legal heir(s) as the case may be, shall have the option to withdraw the entire accumulated pension wealth without requiring to purchase any annuity and upon such exercise of this option the right of the family members to receive any pension or other amounts under the National Pension System shall extinguish.

And according to the New Withdrawal Regulations made by the PFRDA, 100% withdrawal eligibility limits are enhanced for the following issues:

Withdrawal Type	Old Limit on NPS Corpus (Less than or equal to)	New Enhanced Limit on NPS  Corpus (Less than or equal to)
Superannuation	Rs.2Lakhs	Rs.5  Lakhs
Death Withdrawal	Rs.2Lakhs	Rs.5  Lakhs
Premature Exit	Rs.1Lakh	Rs.2.5Lakhs

They are also informed that , the above said 100% withdrawal eligibility limits are made functional in NSDL CRA system. Hence, all the officers in the address entry are requested to go through the instructions  while processing the withdrawal requests of the subscriber.

N. Mohana Rao

Encl: As Above                             Director of Treasuries and Accounts

/ State Nodal Officer.

To

01). The Principal Secretary to Government, Finance Dept. for favour of information.

02). All the Deputy Directors of District Treasuries in the State (through FTP), with a request to direct the District Treasury Officers / Assistant Treasury Officers / Sub Treasury Officers to communicate the same to the Drawing and Disbursing Officers under their jurisdiction by prominently displaying in their Notice Board as well as by way of any other possible communication.

03). The Assistant Treasury Officer, AP Capital Region Treasury, Amaravati @ Ibrahimpatnam (through FTP).

04). The Pay and Accounts Officer, Sri Anjaneya Towers, D. No. 7-57, I Floor, C-Block, VTPS Road, Ibrahimpatnam, Vijayawada – 521456, Andhra Pradesh, with a request to communicate the same to all the Drawing and Disbursing Officers under their jurisdiction.

Copy to the following Unit Offices (through FTP/eMail):-

 

01). The Joint Director (Accts), O/o the Director General of Police, Amaravati @ Mangalagiri.

02). The Chief Accounts Officer (Accts),

a.) O/o the Commissioner 2 Director of Agriculture, Amaravati @ Guntur. b.) O/o the Commissioner of Collegiate Education, Amaravati @

Prasadampadu.

c.) O/o the Commissioner 2 Director of School Education, Amaravati @ Ibrahimpatnam.

03). The Assistant Director, Directorate of Treasuries and Accounts, Amaravati @ Ibrahimpatnam.

04). The Accounts Officer (Accts),

a.) O/o the Director General 2 Inspector General of Prisons, Amaravati @ Vijayawada.

b.) O/o the Commissioner of Printing, Stationery 2 Store Purchases,

Amaravati @

c.) O/o the Commissioner of Civil Supplies, Amaravati @ Gollapudi. d.) O/o the Commissioner of Social Welfare, Amaravati @ Vijayawada.

e.) O/o the Commissioner of Information 2 Public Relations, Amaravati @ Vijayawada.

f.) O/o the Commissioner of Tribal Welfare, Amaravati @ Vijayawada.

g.) O/o the Commissioner of Employment 2 Training, Amaravati @ Vijayawada.

h.) O/o the Commissioner of Horticulture, Amaravati @ Guntur. i.) O/o the Commissioner of Fisheries, Amaravati @ Vijayawada.

j.) O/o the Director of Backward Classes Welfare, Amaravati @ Vijayawada.

k.) O/o the Director of National Cadet Corps, Guntur.

l.) O/o the Director of Intermediate Education, Amaravati @ Guntur.

m.) O/o the Director of Public Health 2 Family Welfare, Amaravati @ Gollapudi.

n.) O/o the Director of Medical Education, Amaravati @ Vijayawada.

 

o.) O/o the Director of Andhra Pradesh Police Academy, Secunderabad.

05). The Assistant Accounts Officer (Accts),

a.) O/o the Controller, Legal Metrology, Amaravati @ Vijayawada. b.) O/o the Director of Animal Husbandry, Amaravati @ Vijayawada. c.) O/o the Director of Industries, Amaravati @ Vijayawada.

06). The Junior Accounts Officer (Accts),

a.) O/o the Director of Tourism, Amaravati @ Vijayawada.

b.) O/o the Director of Youth Services, Amaravati @ Vijayawada.

c.) O/o The Director of Juvenile Welfare, Correctional Services 2 Welfare of Street Children, Amaravati @ Vijayawada.

07). All the Resource Persons of NPS at District Treasuries in the  State  for their personal attention and to educate the treasury officers under their jurisdiction.

08). The Junior Accounts Officer, B – Section of this office. Copy to the Stock File / Spare (05).