TaxTMI 
TaxTMI 
Utilisation of Accumulated Pension Wealth on exit from the National Pension System for Corporates
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....tilisation of Accumulated Pension Wealth on exit from the National Pension System for Corporates <br>News and Press Release<br>Dated:- 1-8-2014<br><BR>As per the rules regarding exit of government emp....
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....loyees from the National Pension System (NPS) before the age of normal superannuation, at least 80% of the accumulated pension wealth of the subscriber needs to be utilised for purchase of annuity pro....
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....viding for monthly pension to the subscriber and the balance is to be paid as a lump-sum payment to the subscriber. A subscriber at the time of exit from NPS can lodge his claim through his/her nodal ....
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....office at NPS Claims Processing Cell (NPSCPC) at Central Recordkeeping Agency (CRA). The Pension Fund Regulatory and Development Authority (PFRDA) settle the claims of the subscribers who have lodged....
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.... their claims along with complete set of documents with NPS Claims Processing Cell through the CRA The details of the NPS account settled in Government Sector are: Sector No. of PRANs Total amount....
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.... disbursed (Rs.) Central Government 431 27,890,438.19 State Government 46 3,748,157.53 All contributions received from Government and employees are accounted for and invested once they are up....
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....loaded in the CRA System by the concerned Government department. This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha t....
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....oday.<BR> News - Press release - PIB....