• NSDL is not transferring my NPS account

Sir my NPS account was opened in 2011 by autonomous central government employer and contribution from employer was closed in 2013 as I left the job, further till 2016 i did not have need for NPS account as my employer was not having NPS scheme.

In 2017 , I have withdrawn 20% money from my NPS account and remaining 80% i have planned for annuity but annuity could not be started delayed by annuity provider , presently my account is in freeze condition .

As now in 2017 I had joined state government job having similar pension scheme BUT called as CPSN coming under new pension scheme , so I have sent a letter to manager NSDL as well as to my current PAO (treasury department) through DDO and PAO 8 months ago that I do not want to withdraw my 80% money as annuity and please transfer my annuity money to TIER 1 account with my new CPSN account with same PRAN no.

 ( As per PFRDA circular 2013 an employer can not have two account with NSDL and 20% withdrawal will be considered as temporary withdrawal and remaining 80% will be transferred to TIER 1 account of employers new job pension scheme. The employee can not demand for new PRAN, if he or she gets new PRAN by mistake both account will freeze.) 

But NSDL persons are calling me as well as informing my new PAO ( treasury department) that i can opt for new PRAN , which is not correct.
I contacted to My PAO ( Treasury Department) regarding this , they are telling that they are trying and sending request again and again.

somehow the process is delayed , and I am loosing my contribution as pension scheme, My concerns are :-
1. Does employee in government job has same rights and security if his Pension or NPS account is still not opened to those employees whose pension account is opened.

2. To whom should I approach if my PRAN/ pension account was delayed by NSDL.

3. What should I do if it is delayed by Treasury department my current PAO.

please guide....
Asked 8 years ago in Labour

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4 Answers

No idea, please consult the concerned.

Kishan Dutt Kalaskar
Advocate, Bangalore
6230 Answers
499 Consultations

Hello,

If NSDL is not transferring your NPS account and you are incurring loss or hassle due to the same then approach the HC and file a writ of mandamus under article 226 of the constitution to obtain directions for NSDL so that they perform the duties that they have to perform.

Contact a local lawyer

Regards

Anilesh Tewari
Advocate, New Delhi
18103 Answers
377 Consultations

Dear Client ,

To above refereed issue, its a straight case of misunderstanding the circular.

I think, at present u do not need seek court recourse and write a letter to mention depts. giving details and refer circular, This way, in future , any legal complication if arise, at least ur will exonerate from legal consequences.

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme. The NPS has been designed to enable systematic savings during the subscriber's working life.. It is an attempt towards finding a sustainable solution to provide adequate retirement income to every citizen of India.

At the time of a normal exit from NPS, the subscribers may use the accumulated pension wealth under the scheme either to purchase a life annuity from a PFRDA empanelled life insurance company or withdraw a part of the accumulated pension wealth as lump-sum, if they choose to do so.

For all your grievances you may aproach NPS authorities.

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

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