National Pension Scheme Death Benefits

These steps and the documents required are mentioned below.

1. Choose and fill the relevant withdrawal form. Different forms are present for different categories of employees and a nominee should choose the form which matches the employee data of the subscriber. Form 101 GD is to be used if the deceased was an employee of the central/state government, form 303 needs to be filled if the deceased was an employee of the corporate sector and form 503 would need to be filled if the employee was protected under the Swavalamban sector.
2. PRAN card – The original PRAN card needs to be submitted along with the relevant form. If the PRAN card is unavailable, a notarized affidavit needs to be submitted.
3. A cancelled cheque – This cheque should include details about the claimant like name, bank account number and IFSC code. If an individual wishes to have the amount transferred electronically, then he/she would have to give a bank certificate containing details like name, account number and IFSC code.
4. The death certificate of the subscriber should be attached with the form.
5. A succession certificate/legal heir certificate should be provided as proof of claimant being the legal heir.
6. Address and ID proof of nominee/legal heir. This could be any valid government approved ID card like passport, driving license, Aadhar card, etc.

Death Benefits provided under NPS

The NPS is primarily designed to offer financial stability to individuals during their retirement phase of life, but also doubles up as a source to secure the future of a subscriber’s family if he/she happened to pass away. In the unfortunate event of a subscriber passing away before the scheme is encashed, his/her nominee/legal heir can withdraw the amount accumulated in the account. This amount can be withdrawn in its entirety, as a lump sum and there would be no option to purchase annuity or monthly pension after the death of the subscriber.

Grievance Redressal as per Regulation 31 of  PFRDA (Redressal of Subscriber Grievance) Regulations, 2015: 

The details of the Ombudsman appointed are available on the PFRDA website – https://www.pfrda.org.in/. 

At present, Shri Narender Kumar Bhola has been appointed as the new Ombudsman in terms of the PFRDA (Redressal of Subscriber Grievance) Regulations, 2015. 

Details of the ombudsman are as given below: 

Shri Narender Kumar Bhola 

Pension Fund Regulatory and Development Authority  

B-14/A, Chatrapati Shivaji Bhawan,  

Qutab Institutional Area, Katwaria Sarai, New Delhi- 110016  

Chhatrapati Shivaji Bhawan,  

Email ID: ombudsman@pfrda.org.in  

Landline No.: 011 -26517507 (Ext : 188)