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What is the transmission process to be followed by a nominee in case of death of the NPS account holder?

April 26, 2017account Case death followed nominee NPS process transmission

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What is the transmission process to be followed by a nominee in case of death of the NPS account holder?

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Incase of the death of the NPS account holder, the nominee(s) may opt to receive 100% of the NPS pension wealth of the deceased NPS account holder in lump sum or may continue with NPS . In case the nominee (s) opt to withdraw the pension wealth, the nominee (s) are required to submit the withdrawal request to CRA directly with the supporting documents specified in the withdrawal request form. However, if the nominee wishes to continue with the NPS, he/she will have to subscribe to NPS individually after following due KYC procedure.