If an employee has retired before the age of superannuation as per provident fund rules, they will be entitled to a reduction in pension. Can their pension be converted to a deferred pension when they turn 58? What should be done in that case?
From India, Mumbai
Acknowledge(0)
Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Hi, as already replied through a private message, once an employee opts for a reduced pension before turning 58 years old, the same arrangement will continue after reaching 58 years.
There is no provision for an employee to automatically become entitled to a reduced pension after retirement (before reaching the age of superannuation). The employee will only receive a reduced pension if they apply for it.
From India, Madras
Acknowledge(0)Amend(0)
1015There is no provision for an employee to automatically become entitled to a reduced pension after retirement (before reaching the age of superannuation). The employee will only receive a reduced pension if they apply for it.
From India, Madras
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Settlement of PF & Pension on the day of Retirement.docx
PF & Pension Amdmt Scheme 2010 for IW.pdf