How Can I Transfer My Pension from Previous Jobs to My Current Account in Mumbai?

Pension Transfer Query

I was working in a company in Pune for 11 years that had their PF account with EPO Pune. I resigned and joined a company in Chennai for two years that had their PF account in EPO Andhra. Later, I resigned again. I then joined a construction company in Mumbai that has a PF Trust. I have transferred my PF amount from the Pune-based company and Chennai-based company to the PF trust in Mumbai.

Regarding my pension, what should I do? My Mumbai-based company deposits my pension with Mumbai EPO. How can I transfer my pension amounts from the Pune-based company and Mumbai-based company to my Mumbai-based pension account?

Regards,
Soma Sundaran Pillai

I have completed 10 years in my first company in Pune, and now I am 48 years old. Could you please advise me on whether the pension can be transferred to my Mumbai account or if I should withdraw the pension amount?

Regards,
Soma Sundaran Pillai

Since you have not completed 50 years of age and the Mumbai-based company has its own P.F. trust, in my view, there are two options available to you:

1. Wait until you attain 50 years and thereafter claim a reduced pension.
2. Withdraw the pension fund. In my view, the pension fund under the Pension Scheme 1995 cannot be transferred to a Private Trust fund.

However, the views of other expert members may also be sought and awaited.

Regards,
B. Saikumar
HR & Labour Law Advisor
Mumbai

I have a query regarding whether the pension amounts from both of my companies can be transferred to my Mumbai Pension Account. Currently, in my present job, the PF is transferred to a Trust, and the Pension is transferred to Mumbai EPO (Government Agency).

Please provide clarification.

Regards,
Soma Sundaran Pillai

So far as my understanding of the provisions of the P.F. Act is concerned, the pension fund with the Pune company can be transferred to the Andhra company by scheme certificate since both companies are covered by the P.F. Act. Since your Mumbai company has its own P.F. Trust and is not covered by the P.F. Act, the pension fund, I am afraid, cannot be transferred to the Mumbai company unless it also subscribes to the pension fund under the Pension Scheme 1995. Otherwise, the two options as indicated in my previous post can be availed by you.

Regards,
B. Saikumar
HR & Labour Law Advisor
Mumbai