Curious About Pension Certificates? Navigating Post-Resignation Steps and Future Benefits

Hi all, I have a query. An employee resigned from services after working for almost 12 years with us. As we know, the pension amount can't be withdrawn after having continuous service of 10 years. The employee wants to have a pension scheme certificate now (filled Form 10D).

Pension Certificate and Its Implications

Now the question is, what will happen once he gets the pension certificate? How will he get the pension amount after retirement? If he left the second organization too after working for 10 years, then does he have to apply for a pension certificate again? What will be his final pension after retiring?

Once the employee receives the pension certificate, it signifies eligibility for pension benefits after retirement. The certificate serves as proof of the individual's entitlement to pension funds. Upon retirement, the employee can claim the pension amount through the Employee Pension Scheme (EPS). If the employee transitions to a second organization and completes another 10 years of service, a new pension certificate may not be necessary as the previous certificate should suffice. The final pension amount after retiring is calculated based on various factors, including the length of service, average salary, and pension scheme regulations. To ensure a smooth process, it is advisable for the employee to keep the pension certificate safe and follow up with the Employee Provident Fund Organization (EPFO) for any updates or clarifications.