Lic superannuation - withdrawal

SUDHAKARAN V T (Querist) 26 April 2016 This query is : Resolved
Due to recession and subsequent salary cuts , Employer discontinued LIC superannuation scheme temporarily wef 2013 so as to increase take home salary of employees.

Understand that in normal cases, withdrawal is permitted on retirement or resignation from service only.

Please advise whether the accumulated amount can be withdrawn by the employees?
If employer is not taking any initiative for withdrawal, whether employees can directly approach LIC?

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H.M.Patnaik (Expert) 26 April 2016
Dear Sudhakaran,
Withdrawal from the Superannuation fund with LIC will be governed by scheme condition only and in case of eligibility the Withdrawal application has to be submitted through your employer only as it is a group scheme for your organisation.

Rajendra K Goyal (Expert) 26 April 2016
Refer the policy documents / superannuation fund documents for clarification.

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