Confused About Pension Transfer After Job Change? Let's Figure It Out Together

PF and Pension Transfer Query

I had applied for PF and Pension transfer from Oracle to Wipro. I left Wipro after 5 months of service and joined Infosys, my current company. PF got transferred to Wipro, but the Pension amount did not transfer. I raised this query with the EPF office and received the following reply: "This is with reference to your Grievance registered vide Registration Number SROKN/E/2013/05113.

It is informed that after processing your grievance, the following action(s) has been taken: The application in respect of Form 13 has been settled, and the amount has been transferred. Details are as follows: Rs xx,xx,xx via NEFT dated 25.06.2013 transferred to PF account no. PYBOM/10275/68729, and for the pension service details have been transferred, but not the amount."

Questions Regarding Pension Transfer

1) Why have they mentioned that Pension service details are transferred? What does it mean?

2) Now, if I initiate the withdrawal of PF and Pension from my current company to Wipro, how will the transfer happen? Please explain the process. Will I receive the pension amount?

From which company should I initiate the withdrawal? Please clarify.

Thanks & Regards,

Prasad S B

It means your pension service record of 5.5 years has been transferred to your new employer. It does not require the pension amount to be transferred, but just the record is enough to claim your pension.

Thanks,
Rakesh.

Thank you for your information. So, you mean if I initiate PF and Pension withdrawal from Infosys to Wipro, I would get both PF and pension amounts. Please guide.

Thanks & Regards,
Prasad

First of all, that is not a withdrawal; it is a transfer. They transfer PF money, not the pension. They just transfer your employment record. So, when you attain pension age, this service record is considered for pension payment. Because most people contribute a maximum of 541 per month, don't worry, your PF transfer is complete.

Thanks,
Rakesh

Thank you, Rakesh, for your information. So, it means that if I withdraw PF and Pension, I will only receive the PF amount and not the Pension amount. Correct me if I am wrong. Thank you for your information.

Thanks & Regards,
Prasad S Billahalli

In withdrawal, you have both options: with a scheme certificate or without it, you receive the entire amount of money from PF + EPS.

I am also facing the same problem. I have written around 100 emails to different PF commissioners, but in vain. The standard reply of officials is "Closing the grievance" - pension under EPS-95 is calculated by a computerized system. It is very difficult to fix the pension after 20 years. It is calculated by considering total EPF-71 and EPS-95 service, age, and pensionable salary. There is no record of what your contribution is.

Abstract of My Complaint

As per your records - FPF up to 2004-05 Rs. 5xxxx/-, year 2005-2006 Rs. 6xxx/-, and year 2006-2007 for Rs. xxxx/-. The sum of all is equal to Rs. 5xxxx/= in 2006-2007 (Jun 2006).

In 2012, the total amount shall go up; instead of that, it came down to Rs. 4xxxx/= only. (Once again, e-passbook is attached herewith for your quick reference)

If I consider your record is correct, then also it shall be Rs. 5xxxx + Rs. 4xxxx = Rs. 1xxxxx/=. Why is it not reflecting in my account?

In addition to the above records of -- Date of Joining (EPF): NA, Date of Joining (EPS): NA, Date of Birth: NA is missing.

Questions Raised

I raised the following questions with them, but no answer so far:

- Please let me know I have completed 30 years of service, but deduction from my salary was Rs. 540/= PM for the pension fund, and I could deposit only for 10 years (Many of the companies have their own trust for PF). What will be my pension after retirement?
- In case my deposit was for 20 years @ 540/= PM, what will be the pension in this case?
- In the 3rd case for the whole 30 years @ 540/= PM has been deducted for the pension fund, what will be the pension?

Please reply clearly the pension in terms of Indian Rupees per month.

You can use the following attached Excel utility. It was prepared by a CiteHR member long back, but it is a useful tool to estimate your pension amount.

I see EPFO is unable to find your correct records regarding your date of birth, date of joining, and date of separation from the organization. Also, if you have worked with different organizations during 30 years, some of them being private trusts as you mentioned, did you transfer or withdraw your benefits from these trusts? Because the EPS part is maintained by EPFO while the PF part is maintained by trusts. So, please check with your past employers about your EPS account, which is generally different from the PF account in all cases.

If they have not transferred your service record to a single or your last pension account, I would suggest you first transfer your service record to a single account using a Scheme certificate (use Form 10C).

Once all records are with your last EPS account, I would suggest you apply for a pension if you have already retired or attained 50 years (not working).

Hope this will help you somewhat.

Regards

Dear Mr. Rakesh, Thank you for your reply. My question to the PF department is that in my account, the pensionable amount should have been more than 1 lakh, but it is showing only 40K. Where is the rest of the amount, 60K? They don't have any answer as to why it's not reflecting in my account.

Service History and Pension Concerns

Secondly, my first three and a half years of service were in two different companies where the money was transferred to a private trust managed by the company. When I joined a new organization, the PF amount was transferred there with interest, and it was in the Government of Rajasthan PF section. However, they are acknowledging it from the day I joined the Government PF. So, the first 3 and a half years are seemingly in vain. I have a doubt about how I can withdraw money if I am not depositing money in the bank and what the relationship is between the pension and my contribution.

Regards