New Delhi, 5/10: The Pension Fund Regulatory and Development Authority (PFRDA) has given the facility of online and paperless exit from the National Pension Scheme, giving a big relief to the government employees. Now they will not have to make rounds of offices to come out of the pension scheme. For this, now they can adopt the method of online and paperless exit. Earlier only private sector employees had this facility. PFRDA has expanded the scope of online exit to include government employees as well.
According to PFRDA, in view of the convenience of the employees, it has been decided to expand the online exit facility. Online exit will be linked with instant bank account verification.
Till now this work was done physically. For this, the employee had to prepare many types of documents and many times had to make rounds of the office. Now employees can submit their documents online through electronic signature or OTP to withdraw money from NPS and can withdraw money online.
The facility of online exit will be available for those central employees who are included in the National Pension Scheme. If any employee is facing problem in the online exit process, then the nodal officer of the government sector will guide about it.
PFRDA says that with the online exit facility, where employees will get rid of the hassle like collecting and submitting paper documents, time and money will be saved.