Hi Dears,
I am a working woman and 59 years old. In our company the retirement age is 60 years. I am a PF member since 1987.
Recently i came to know that both my PF and FPF contribution is going to PF only and FPF account is closed. In that
case , which is beneficial, should i wait till 60 years to apply for the pension and is it worth to apply now while on duty?
My basic salary is 45,000/- and monthly contribution is Rs.1800/-. how much pension i am entitle for ?? Service period is
37 years. Waiting for your reply.

From India
For contributing to PF there is no age limit but you cannot contribute to Pension Fund once you have attained the age of 60 years. Actually the age for contributing to pension fund is 58, but it can be extended to two years. This can be without contribution to pension fund or with contribution to pension fund.
If you defer pension for one year, if you opt to start pension at the age of 59, you will get 4% additional pension. If you opt for drawing pension at 60 years of age, ie, deferring pension for two years, the pension will be increased by 8.16%.
If you continue contributing to pension fund till 59 or 60 years, as the case may be the pensionable service will also be increased to that extent.
Since your employer is not contributing to pension fund you can either start drawing pension or defer it for one more year so that you can avail 8.16% additional pension amount.

From India, Kannur

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