Respected seniors! I want to know that one of my friends has been working in a private Ltd. company for the past 10 years, and now he is eligible for a pension. His deduction is around $1200.00 on one side, and now he wants to leave the company. (I have seen that people in the army receive their pension sometime later when they take VRS or retire without completing 58 or 60 years of age.)
Pension Eligibility and Withdrawal
My question is, if he leaves his job now, is it possible to get his pension fund immediately after leaving the company, or does he have to wait until 58 or 60 years of age for retirement? If he receives his pension sometime later, how much will he get in hand?
Regards,
Narendra
From India, Gurgaon
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Pension Eligibility and Withdrawal
My question is, if he leaves his job now, is it possible to get his pension fund immediately after leaving the company, or does he have to wait until 58 or 60 years of age for retirement? If he receives his pension sometime later, how much will he get in hand?
Regards,
Narendra
From India, Gurgaon
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To determine the exact pension amount, the following data such as date of birth, date of joining, date of separation from service, pensionable salary, etc., need to be provided. In order to be eligible for full pension benefits, a member must reach the age of 58. However, if not in service, pension benefits can be accessed from the age of 50 onwards. It's important to note that for each year below the age of 58, there will be a 4% reduction in the pensionable amount.
Regards,
Abbas P.S
From India, Bangalore
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530Regards,
Abbas P.S
From India, Bangalore
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Respected seniors! My friend has been working at a firm for more than 9.8 years. His joining date is 11 July 2005. The deduction of PF on one side is 1080. His date of birth is 02 May 1977, and the pensionable amount is around 700.00. Can anybody calculate his pension amount if he leaves the job now?
Yours truly,
Narendra
From India, Gurgaon
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Yours truly,
Narendra
From India, Gurgaon
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PF guidleines for Pension fund.pdf
PENSION CALCULATION.xls