Regular pension under epf act
vivek kumar
(Querist) 25 April 2016
This query is : Resolved
DEar sir;
What is the procedure if i dont want to avail lumpsom pension payment after retirement in pvt organisation
i want fixed regular payment month wise.
Regards
Vivek
Kumar Doab
(Expert) 25 April 2016
Pension is also fix regular payment.
The notification limiting withdrawal from PF a/c has been rolled back by the central govt and hence pension component (EPS) can be withdrawn.
Speak to PRO/APFC in nearest/jurisdictional PF office or designated HR personnel.
H.M.Patnaik
(Expert) 26 April 2016
While preparing the papers for final pension from EPF authority do not opt for commutation of pension. Besides , as per EPF rules, you get back your own share of con'bn in lumpsum and monthly pension will be paid basing of Employer's con'bn. If you are looking for monthly pension in respect of own con'bn to EPF, you can deposit the the same in any pension plan floated by banks and other financial organisation a per your suitability.
