I am working with a Private organization since the last 19 years. I am a member of Group Superannauation scheme with LIC. Every year our organization contribute 15% of our basic salary to this fund. Please provide me what is the caluclation of pension under this scheme. I think 33.5% of the amount can be withdrawn at the time of retirement/left the service and from the balance amount LIC shall be provided pension.
there are multiple option one is 1/3 immeiate and 2/3 for the pension
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