Section 21 of The Unified Pension Scheme: Processing of UPS Payout Order
Processing of UPS Payout Order Unified Pension Scheme
21. Processing of UPS Payout Order. – (1) Upon receipt of UPS Payout Order, NPS Trust shall authorise –
(i) release of admissible payout;
(ii) release of lumpsum payment;
(iii) release of final withdrawal
(iv) release of the surplus amount in the individual corpus, if any over the benchmark corpus; and
(v)
dearness relief on the Admissible Payout.
(2) The NPS Trust shall ensure payment of monthly payout from the Pool Corpus to the bank account of the UPS
Subscriber and periodic release of applicable dearness relief. For this purpose, CRA shall intimate to the pension fund to
effect redemption from the Pool Corpus for payment of such payout to the subscriber.