NPS transaction timeline. The Turn Around Time for withdrawals and other transactions under the National Pension System (NPS), has been decreased. The Pension Fund Regulatory and Development Authority, (PFRDA), stated Tuesday (20 September 2022) that the Central Recordkeeping Agencies and Pension Funds (PFs), as well as Custodian, have made improvements to the system interface and improved their IT capabilities in order to speed up transactions under NPS.
According to the regulator, timelines were reduced in Azadi Ka Amarit Mahotsav. This was done to mark 75 years of India’s Independence. This initiative will offer subscribers a better experience and help them meet their changing needs.
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Earlier, the withdrawal requests of subscribers at the time of exit were executed on T+4 working/settlement days (T being the day of authorization of withdrawal request by Nodal office/PoP/Subscriber). This timeframe has been reduced to T+2 Days.
Below are the reduced timelines for final exit from NPS and respective CRAs
- Subscribers who are associated with Protean eGov Technologies Ltd CRA will receive all requests up to 10:30 AM on a T+2 basis.
- Subscribers who are associated with KFin Technologies Ltd. & CAMS-CRAs: All requests up to 11 AM will only be processed on a T+2 basis.