NPS- How to claim proceeds in case of Death of the subscriber?

The working population saves for their better post retirement life. NPS (Nation pension scheme) is a retirement saving scheme which provides them financial support for their post retirement. But if the subscriber dies before completing 60 then the entire pension amount is paid to the nominee/ heir of the subscriber and any purchase of annuity is not made. Let's learn in detail about it.

Application process for death claim

According to PFRDA guidelines, nominee can get the eNPS death claim through NPS trust by Following these steps-

• Nominee has to submit a Bank's KYC Confirmation certificate with the photo and signature
• The Bank's letter signed by designated bank official
• A duly-filled death withdrawal form with all required documents such as Death Certificate, ID Proof & Address Proof etc. The Death Withdrawal Form is available on CRA website www.npscra.nsdl.co.in. under Forms Section.
• All the documents mentioned are to be submitted to NPS Trust
• After verification NPS trust will forward the claim to CRA

Another way is that the nominee can submit a death withdrawal form with all the required documents to any bank POP and they will further process the death claim in the CRA system.

What if, Multiple nominees are registered?

• In such a case, a withdrawal form is to be submitted by all the registered nominees.
• if a nominee does not want to claim then a Relinquishment deed is to be submitted by that nominee.
• The nominee who wants to claim the benefits has to submit an Indemnity Bond.
• If one nominee is minor then on behalf of the minor a guardian will submit the form with the birth proof of the minor.

What if, no nomination is registered?

If no nomination is registered, the entire pension amount is paid to the legal heir of the subscriber. A certified copy of a legal heir certificate or a certified copy of a family member certificate must be attached to claim the amount.

How does the nominee receive the withdrawal amount?

The amount is credited directly to the nominee/claimant's bank account