Form 501 Nps PDF Details

As individuals approach the milestone of retirement, understanding the nuances of managing accumulated pension wealth becomes paramount. The Form 501 under the Swavalamban National Pension System (NPS) serves a critical function in this regard, especially for subscribers who have reached the age of 60 years. This document facilitates the withdrawal of accumulated pension funds, allowing for both lump-sum and annuity-based disbursements. The form is meticulously designed to capture essential personal details, account information, and preferred withdrawal options, ensuring subscribers can tailor the process to their financial needs. Moreover, it includes provisions for phased withdrawal, offering flexibility in managing pension wealth post-retirement. The completion process requires the subscriber to submit various details such as the Permanent Retirement Account Number (PRAN), personal identification, bank account information for the transfer of funds, and the chosen Annuity Service Provider (ASP) for those opting to convert part of their pension wealth into a regular annuity. Additionally, it features a section dedicated to nomination details, allowing subscribers to designate beneficiaries for their pension wealth in the event of their demise. Such comprehensive detail ensures a smooth transition into retirement, securing the financial well-being of the subscriber and their nominees. The procedural formalities involve self-attestation, submission to designated officials, and meticulous record-keeping, highlighting the form's significance in the broader retirement planning landscape.

QuestionAnswer
Form NameForm 501 Nps
Form Length6 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 30 sec
Other names503 form, form 503 nps, form 501 pdf, nsdl withdrawal form

Form Preview Example

Form 501

Page 1

SWAVALAMBAN

National Pension System (NPS)

Withdrawal Form for Claim of Accumulated Pension Wealth by Subscriber on attaining 60 years of age

(To be filled by Subscriber - Please fill all the details in CAPITAL LETTERS & in BLACK INK only)

 

(FOR OFFICE PURPOSE ONLY – NOT TO BE FILLED BY THE SUBSCRIBER)

 

 

 

Date :

 

 

 

 

 

 

 

 

 

Acknowledgement Number :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Self attested

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(DD/MM/YYYY)

 

 

 

(Generated by CRA)

 

photograph of the

 

 

 

 

 

subscriber

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NL-CC.:___________________

NL-AO/POP/POP-SP Registration No.:___________________

 

 

 

Receipt Number issued by receiving office:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Entered By: ___________________ Date: ________________ Verified By: ___________________ Date: __________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sir/Madam,

I hereby submit a request for withdrawal under NPS for both Tier-I / Tier-II (please tick as applicable) fund accumulations in my Permanent Retirement Account and give below the necessary details:

Section A – Subscriber’s Personal Details:

1. PRAN *:

2.Full Name (As in PRAN Card) *: First Name*

Middle Name Last Name

3.Father’s/Spouse name*:

First Name*

Middle Name

Last Name

4. Address*:

Flat/Unit No, Block no.*

Name of Premise/Building/Village

Area/Locality/Taluka

District/Town/City*

State / Union Territory*

Country*

 

Pin Code*

 

 

 

 

 

 

 

5. Mobile No.

 

 

 

 

 

 

 

 

 

 

 

6.

Date of Birth*(As in PRAN Card):

 

 

 

 

 

 

 

 

 

 

 

7. Email ID:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7.

Date of attaining the age of 60 years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form 501

Page 2

Section B – Subscriber’s Withdrawal Details:

Tier – I Account:

1.The Lump-sum amount to be withdrawn and amount to purchase annuity in case of normal withdrawal*(Please refer

General Instruction no.4&5)

Description

Lump-Sum amount

Amount to purchase life annuity

Total

(Maximum of 60%)

(Minimum of 40%)

 

 

% share

 

 

100%

 

 

 

 

Note: A separate form needs to be filled in for purchase of Annuity and for arranging the monthly pension/annuity. The subscriber is required to follow the procedure laid down by Annuity Service Provider (ASP)

2.Type of withdrawal*: One Time Withdrawal

Phased Withdrawal

3.In case of Phased Withdrawal#, please mention the percentage of lump-sum amount to be withdrawn this year (Please refer General Instruction no.6)

Description

Phased Lump-Sum Amount Percentage

(10%)

% share

Note: In phased withdrawal of lump-sum amount, subscriber can opt to withdraw lump-sum amount for accumulated pension wealth in a phased manner over the period from 60 years (or any other retirement age as prescribed by employer) to 70 years. Subscriber has to withdraw minimum of 10% of the remaining pension wealth every year; at the age of 70 years, subscriber would compulsory withdraw any amount lying to their credit. Also, note that in phased withdrawal of lump-sum amount, subscriber is subject to the NAV movement and may lose or gain in the future depending on the underlying fund’s performance.

For subscriber opting for phased withdrawal, the Central Recordkeeping Agency (CRA) maintenance charges would be deducted from the corpus/units lying in the account of the subscriber

Tier – II Account:

The entire accumulated pension wealth would be paid out in single lump sum along with the withdrawal/payment of the Tier-I account.

Section C – Subscriber’s Bank Details:

1. For Electronic transfer or Direct Credit through ECS/NEFT/RTGS, Proof attached for Bank Details*:

Cancelled Cheque

 

Bank Certificate

(Please note that Mode of remittance of funds would be through ECS/NEFT/RTGS/Electronic Transfer only and bank charges, if any, for direct credit would be deducted from pension wealth)

2. Type of Bank Account*: Savings A/c

Current A/c

3.Bank A/c Number*

4.Bank Name*

5.Bank Branch*

6.Bank Address*

7. Pin Code*

8. Bank IFS Code*

9. Bank MICR Code (Wherever applicable)

Form 501

Page 3

Section D – Subscriber’s Annuity Details:

1. Annuity Service Provider (ASP) Name *:

2. ASP ID*:

3. ASP Scheme Name *:

4. ASP Scheme ID *:

Declaration:

I_______________________________________, NPS Subscriber, my PRAN is ______________________, do hereby declare that the information provided above is true to the best of my knowledge and belief.

Date :

D D M M Y YYY

Signature/ Thumb

Impression of the Subscriber

*Note: Left thumb impression in case of illiterate male claimants and Right thumb impression in case of illiterate female claimants must be obtained.

Form 501

Page 4

Annexure for Nomination Details

INSTRUCTIONS FOR FILLING IN THE FORM

The details of nominees to whom the outstanding pension wealth of the subscriber is payable in case of the demise of the subscriber before entire proceeds are withdrawn (Please refer general instruction no: 7) is to be provided hereunder. Also, please note that in case of demise of the subscriber after opting for phased withdrawal, all the outstanding pension wealth out of the phased lump sum withdrawal in the account of the subscriber will be paid to the nominee(s) as mentioned in this form and the same would be treated as full and final discharge of the obligation. In case, if you wish to appoint multiple nominees, please fill in the form 401-AN.

I, ____________________________________ hereby nominate the person(s) mentioned below who is/are member(s)/non-

member(s) of my family to receive the amount that may stand to my credit in the National Pension System as indicated below, in the event of my death before that eligible accumulated pension wealth amount has become payable or having become payable or having become payable has not been paid.

1. Name of the Nominee:

First Name*

Middle Name

Surname/last name

2. Nominee’s current communication Address

Flat/Unit No, Block no*_____________________________________________________________________

Name of Premise/Building/Village ____________________________________________________________

Area/Locality/Taluka___________________________ ____________________________________________

District/Town/City*________________________________________________________________________

State / Union Territory*_____________________________________________________________________

Country*____________ Pin Code*____________ Email ID:_________________________________________ Mobile No.:_____________

3. Date of Birth of the Nominee* (Only in case of a minor):

4.Relationship of the nominee with the Subscriber*:

(e.g. If nominee is son, subscriber should fill the relationship as ‘Son’)

5.Nominee’s Guardian Details*(only in case of a minor):

First Name*

Middle Name

Last Name

Dated this ______________day of____________20

at ______________.

in the presence of the following witnesses:

 

 

 

 

 

 

 

 

Particulars

1st Witness

 

2nd Witness

 

Name

 

 

 

 

 

 

 

 

 

Address

 

 

 

 

 

 

 

 

 

Signature

 

 

 

 

 

 

 

 

Signature/ Thumb

Impression of the Subscriber

*Note: Left thumb impression in case of illiterate male Subscriber and Right thumb impression in case of illiterate female subscriber must be obtained.

The date of attaining the age of 60 years of the subscriber is as given below:

Form 501

Page 5

TO BE FILLED/ATTESTED BY NL-CC/POP/POP-SP

Certified that the above declaration and nomination details has been signed / thumb impressed before me by Sh/Smt/Ms. _________

________________________________________after he / she have read the entries / entries have been read over to him / her by me

and got confirmed by him / her.

(DDMMYYYY)

Rubber Stamp of the NL-CC/POP/POP-SP

Signature of the Authorised Person

NL-CC/POP/POP-SP Registration Number _______________________

Designation of the Authorised Person : __________________________________

(Allotted by CRA)

 

Date :

D D M M Y YYY

NL-CC/POP/POP-SP Office Name : ___________________________________

TO BE FILLED/ATTESTED BY NL-AO/POP/POP-SP

NL-AO/POP/POP-SP Registration Number (Allotted by CRA):

___________________________________________________________

Rubber Stamp of the NL-AO/DTO/POP/POP-SP

Signature of the Authorised Person

-------------------------------------------------------------------------------------------------------------

CLAIM FOR THE WITHDRAWAL OF ACCUMULATED PENSION WEALTH OF THE

SUBSCRIBER UNDER NATIONAL PENSION SYSTEM

Advanced Stamped Receipt

I _________________________________covered under the National Pension System with Permanent Retirement Account

Number (PRAN) _____________________has received a sum of Rs./-

(Rupees_____________________________________________________________only) from National Pension System /

National Pension System Trust by deposit in my Saving Bank / Current Account towards the settlement of my National

Pension System (NPS) account.

Affix 1 Rupee

Revenue Stamp and sign across

Signature or Left/ Right hand thumb impression of the NPS Subscriber*

(*Note: Left thumb impression in case of illiterate male claimants and Right thumb impression in case of illiterate female claimants must be obtained.)

-------------------------------------------------------------------------------------------------------------

ACKNOWLEDGMENT RECEIPT

Acknowledgment slip to the NPS Subscriber on receipt of completed application form for Withdrawal on attaining 60 years of age

(To be filled by NL-AO/POP/POP-SP)

Received from PRAN :

NL-CC: _____________________

NL-AO/POP/POP-SP Registration Number: _____________________

Received at: _________________________ Date : ____________________________

Time: __________________

Acknowledgement Number : (Generated by CRA)

Form 501

Page 6

INSTRUCTIONS FOR FILLING UP THE FORM

This application should be filled by the Subscriber seeking to withdraw pension wealth benefits upon attaining 60 years of age

Documents to be enclosed along with this application:-

1.PRAN card in original. In case PRAN card is not available, the subscriber needs to submit a duly notarized Affidavit as to the reasons of non-submission of the PRAN card.

2.Cancelled cheque (containing Subscriber Name, Bank Account Number and IFS Code) or Bank Certificate Containing Name, Bank Account Number and IFSC code, for direct credit or electronic transfer.

3.A pre-signed receipt acknowledging the receipt of the proceed under NPS by the subscriber

4.In addition to the PRAN card any other Identification and address proof of the subscriber. The photocopies of documents (Sr. No. a to h) and original document (Sr No. i) that can be provided as identification and address proof are as mentioned below:

a)Ration Card with photograph of the subscriber and residential address

b)Bank Passbook with photograph and residential address

c)Credit Card with photograph, any other address proof like latest telephone bill, electricity bill in the name of the subscriber.

d)Passport

e)Aadhar Card issued by UIAD

f)Voter’s Photo Identity Card with residential address

g)Driving license with photograph and residential address

h)PAN card and any other address proof like latest telephone bill, electricity bill in the name of the subscriber.

i)Certificate of identity with photograph signed by a Member of Parliament or Member of Legislative Assembly or Municipal Councilor or a Gazetted Officer and any other address proof like latest telephone bill, electricity bill in the name of the subscriber (to be provided original)

In case if the address is not present on any of the above documents or differs with address provided in this form, proof in respect of current residential address like latest telephone bill, electricity bill in the name of the subscriber should be submitted.

GENERAL INSTRUCTIONS:

1.All the columns in the form should be filled with black ink pen without any overwriting.

2.Fields marked with (*) are mandatory.

3.Correct postal address, including the pin code should be provided.

4.Percentage of allocation for amount to be withdrawn as Lump-sum and amount to purchase life annuity. Subscriber can withdraw maximum 60% of pension wealth and is required to transfer minimum 40% of pension wealth to annuity. For example, for a total corpus of Rs.1000, if subscriber wants Rs.300 as lump-sum and Rs.700 for annuitisation, subscriber to select 30% and 70%.

5.For any Swavalamban subscriber, if monthly pension to be received by the subscriber goes below the threshold limit as decided by PFRDA, the percentage of corpus allocated towards purchase of annuity may increase above the mandatory 40% limit

6.Please select the type of lump-sum withdrawal as one-time or phased. For e.g. for a total corpus of Rs. 1000/- subscriber has selected Rs. 300 as lump-sum amount. For one time withdrawal subscriber will be given Rs. 300 as lump-sum amount on processing of withdrawal request. For phased withdrawal subscriber will be given minimum of 10% i.e. Rs. 30 for the period of 10 years, at the age of 70 years, subscriber would compulsorily withdraw any amount lying to their credit.

7.Instructions for nomination

Subscriber can nominate maximum of three nominees.

Subscriber cannot fill the same nominee details more than once.

Percentage share value for all the nominees must be integer. Fractional value will not be accepted.

Sum of percentage share across all the nominees must be equal to 100. If sum of percentage is not equal to 100, entire nomination will be rejected.

If a nominee is a minor, then nominee’s guardian details will be mandatory

For the purpose of this document Pension Wealth means: The total amount of contributions made by the subscriber in the scheme plus the investment income derived from the investment of the contributions made by the subscriber from the date of joining of National Pension System till the date of execution of withdrawal request in the CRA System.

How to Edit Form 501 Nps Online for Free

Handling PDF forms online is definitely simple with our PDF tool. You can fill out nps form here in a matter of minutes. To have our editor on the leading edge of efficiency, we work to put into operation user-oriented capabilities and enhancements regularly. We're always thankful for any suggestions - play a pivotal part in remolding how we work with PDF files. Should you be seeking to begin, here's what it's going to take:

Step 1: Click on the "Get Form" button above. It is going to open up our tool so you can begin completing your form.

Step 2: With this state-of-the-art PDF tool, you're able to do more than just fill in blank form fields. Try each of the functions and make your forms seem sublime with custom text added in, or tweak the original content to perfection - all that backed up by the capability to add your personal graphics and sign it off.

For you to fill out this PDF document, make sure that you provide the information you need in every single field:

1. Start completing the nps form with a number of major fields. Collect all the important information and be sure not a single thing missed!

How to prepare nps withdrawal form 501 pdf portion 1

2. The subsequent part is to fill out these particular blanks: PRAN Full Name As in PRAN Card, Middle Name, Last Name, FathersSpouse name First Name, Middle Name, Last Name, Address FlatUnit No Block no, Name of PremiseBuildingVillage, AreaLocalityTaluka, DistrictTownCity, State Union Territory, Country, and Pin Code Mobile No Date of.

Writing section 2 in nps withdrawal form 501 pdf

Regarding Name of PremiseBuildingVillage and AreaLocalityTaluka, be sure you do everything right in this current part. These are considered the most significant fields in the PDF.

3. This next part is normally straightforward - complete all the blanks in Pin Code Mobile No Date of to conclude this process.

Pin Code  Mobile No  Date of, Pin Code  Mobile No  Date of, and Pin Code  Mobile No  Date of in nps withdrawal form 501 pdf

4. To move onward, this fourth stage involves filling out several blank fields. These comprise of Description, LumpSum amount Maximum of, Amount to purchase life annuity, Minimum of, share, Total, Note A separate form needs to be, One Time Withdrawal In case of, Phased Withdrawal, Description, Phased LumpSum Amount Percentage, share, and Note In phased withdrawal of, which are crucial to carrying on with this particular PDF.

nps withdrawal form 501 pdf conclusion process detailed (step 4)

5. This pdf should be finalized by going through this section. Below you will notice a comprehensive listing of fields that need to be filled out with correct information to allow your form submission to be faultless: For Electronic transfer or Direct, Current Ac, Bank Name, Bank Branch Bank Address, Pin Code Bank MICR Code Wherever, and Bank IFS Code.

Filling out segment 5 in nps withdrawal form 501 pdf

Step 3: Proofread the details you have inserted in the blanks and then click on the "Done" button. Sign up with FormsPal now and immediately use nps form, ready for downloading. Every last modification made is conveniently saved , which means you can customize the document at a later point anytime. FormsPal is invested in the personal privacy of all our users; we make sure all personal data put into our editor is kept secure.