I am a bank employee and pension optee (1995 regulations). I have put in 19 years and 7 months of service. I have submitted my resignation. I have been informed that I will not receive a pension as I have not completed 20 years of service. No PF nor any amount will be paid out of the pension fund/corpus that I contributed to in 2010 along with my employer.
Claiming Pension Fund Corpus
How can I claim that the corpus should be paid to me? I believe it would be a significant loss and unfair to employees like me who have devoted such lengthy service if the pension fund is not allowed to be settled due to resignation.
From India, Bangalore
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Claiming Pension Fund Corpus
How can I claim that the corpus should be paid to me? I believe it would be a significant loss and unfair to employees like me who have devoted such lengthy service if the pension fund is not allowed to be settled due to resignation.
From India, Bangalore
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Those who have completed 10 years of service in EPS are eligible for a pension. (9 years and 6 months will be rounded up to 10 years). If the service is 1 to 9 years, a one-time withdrawal benefit is applicable.
Regards, Abbas.P.S
From India, Bangalore
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530Regards, Abbas.P.S
From India, Bangalore
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Whether is this rule applicable for Public Sector Banks that have their own pension regulations (1995 pension regulations of PSBs)? Please also note that I am not under the New Pension System. If my employer does NOT pay a pension, nor PF, nor payment/withdrawal of corpus, what are the alternative options available? It would be a double whammy not to get a pension, nor PF, nor pension corpus from the employer after putting in so much service.
Thanks.
From India, Bangalore
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Thanks.
From India, Bangalore
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