Struggling to Withdraw Superannuation After Resignation: Any Success Stories or Advice?

I was employed for 8 years in India. I resigned in 2010 and am now an NRI/British citizen. I am trying to withdraw the complete superannuation amount, but the payroll/HR team is not able to assist—they do not seem to have a clue on the process.

Withdrawal of Superannuation Amount

Has anyone known a case where an employee withdrew the entire superannuation amount upon resignation? What I found online is: "In the case of resignation of the employee, the employee has the option to transfer his amount to the new employer. If the new employer does not have a Superannuation scheme, then the employee can withdraw the amount in the account, subject to deduction of tax and approval of the IT department, or retain the amount in the Fund, till the superannuation age."

This is referring to the group superannuation policy the employer had with LIC (this is separate from PF/EPS/Gratuity).

Please contact Trustees of the Superannuation Fund. Whether 100% withdrawal is provided under the Scheme? Please clarify what do you mean by withdrawing the complete superannuation amount (are you planning to withdraw the balance Annuity amount invested?)

Thanks for your response, Srinath. I got in touch with my ex-employer, but they are not able to guide me - I'm not getting any useful answers after chasing for a month! :( The scheme was bought by the employer and only had employer contribution. I wish to claim the entire contribution plus any interest. I have been given an LIC form, but they are unable to provide me with the group/master policy number or LIC ID and no guidance on how to claim all of it. The form has options for yearly payment which I do wish to use.

Dear Mr. Sejaln,

You resigned from your job in 2010. Have you not submitted your claim post-resignation? Your employers are the trustees of the fund. You have not categorically stated - first time, are you opting for withdrawal?

Please frame your question properly by giving all relevant details and address it to your employer/trustees, not the payroll team.

Hi Srinath,

No, I did not claim post-resignation. I reached out to the HR team but am not getting anywhere. I do not have any other contacts in that organization.

Has anyone here claimed full superannuation? If so, which option do I need to select in the form I attached in an earlier post?

Thanks,
Sejal

You have to find out from the Trustees/Employer whether there is a provision for full withdrawal of the Group Superannuation Fund. If yes, you can opt for it. Alternatively, you can choose partial withdrawal, and the remaining amount can be received by opting for monthly/quarterly/half-yearly/annual interest. The balance fund lying in the account will normally be returned to your nominee after your death.

Please contact the HR Head/Trustees via written communication with the assistance of your colleagues/ex-employees to gain more clarity. It is high time to initiate action without any further delay. You should have taken action immediately after resignation. Your HR team should have advised you to submit your claim.

Thank you.

Hi Sirnath,

Thank you for your message. Please note that I have contacted my employer but I am not receiving advice or help from them regarding full withdrawal. They have also not provided me with the group policy number, membership number, or LIC ID.

The form they gave me (attached in my previous response) does not have an option for full withdrawal, and I have not received any response from the employer or HR team.

Best Regards,
Sejal

Dear Sejal,
Please send your query in writing by registered post to your employer/trustees together with the form duly completed and signed.