Navigating Pension Options for a 58-Year-Old Employee: Reapply or Withdraw?

Dear HR Friends,

One of our employees has worked for more than 10 years with a previous employer and is now receiving a pension. He has completed over 10 years with our company, and we are planning to provide superannuation since he has reached 58 years of age. Can we reapply for the pension through Form 10C, or can we also withdraw the pension amount?

Please suggest.

In India, when an employee reaches 58 years of age and has completed over 10 years of service, they are eligible for superannuation benefits. Regarding the pension situation, if the employee is already receiving a pension from their previous employer, they can choose to either reapply for the pension through Form 10C or withdraw the pension amount. The decision would depend on the terms and conditions of the pension scheme and the Provident Fund rules. It is advisable to consult with the Provident Fund authorities or a legal expert to understand the specific options available and the implications of each choice before proceeding.