Confused About My PF Scheme Certificate: Should I Wait Until 58 or Act Now?

Dear All,

I have a query. Please help me in this regard. When I left my earlier employment after working for 11 years, I opted for complete withdrawal of my PF.

In response, I have received only a part of my PF amount, and for the rest, the PF people have sent me a Scheme Certificate. In fact, I have not opted for any Pension or Scheme Certificate when I applied for PF withdrawal. Now I am having this scheme cert in hand. I really don't know what to do with this. In the cert, it is said that I can take the amount mentioned in it as a pension or lump sum after attaining the age of 58 years through form D, etc.

Now please let me know or advise me on what to do with the certificate? Should I wait till 58 years to get my money? Or is there any other way of doing things?

Please advise.

Regards,
Krishna

As per the PF Act, if you cross more than 10 years of PF contribution, you are eligible for only getting a pension after completing 58 years. Before that, there is no chance to get the amount. After 58 years, you will need to produce the certificate to receive the pension. Remember, the pension is only safe, and from an interest point of view, it is more beneficial than a bank.

My suggestion is that pension is better than the best if your age is over 45.

I have one query. Is this pension applicable to the nominee if the member is not there after 58 years?