Systematic Lumpsum Withdrawal for NPS Subscribers

1. If the amount that is available in the account is up to Rs.5 lakh, 100% of the amount can be withdrawn as a lumpsum. 
2. In the case of Superannuation, 60% of the amount can be withdrawn, while the remaining 40% is needed for pension. 
3. The periodic intervals that the amount can be withdrawn are yearly, half-yearly, quarterly, or monthly. 
4. The scheme is available only for Lumpsum NPS corpus. 
5. Individuals can opt for the facility under Superannuation Exit. 

1. Once the Superannuation Exit has been authorised, there will be a 5-day gap for the scheme to start. 

Benefits of Systematic Lumpsum Withdrawal 

The main benefits of the SLW facility are mentioned below: 

1. In the case of SLW withdrawals, individuals can avail tax benefits. 
2. In case any corpus is still available, returns will be accumulated. This helps in the creation of Tool for Wealth. 

1. The monthly income will increase in case the subscriber opts for the facility. 
2. Regular cash flow will be available. 

Procedure to Opt for Systematic Lumpsum Withdrawal 

The procedure that must be followed to activate the SLW facility is mentioned below: 

1. Visit https://cra-nsdl.com/CRA/. 

1. Log in to your account by entering the user ID, password, and captcha details. 
2. Agree to the terms and conditions and click on ‘Submit’. 
3. Once you log in to your account, you will find the ‘Exit from NPS’ option. The option can be found under the ‘Continuation & Withdrawal’ tab. 
4. Select ‘Initiate Request’ under ‘Exit from NPS’. 
5. On the next page, the relevant details must be provided.  

1. Next, the OTP Authentication/ eSign process must be completed. 
2. Next, click on ‘Initiate SLW’. 
3. Next, verification of the bank details, email ID, and mobile number must be completed. 
4. Click on ‘Submit’ once the verification process has been completed. 
5. Next, you will have to select either ‘SLW tenure based on instalment amount’ or ‘SLW tenure based on age’. 

1. Depending on the option that has been selected, the relevant details must be entered. 
2. Click on ‘Proceed’. 
3. An OTP will be sent to the registered mobile number. Enter the OTP to complete the process.