I was employed for 8 years in india. I resigned in 2010 and am now NRI/britishcitizen. I am trying to withdraw comlpete super annuation amount but the payroll/HR team are not able to assist - they do not seem to have a clue on the process
Has anyone known a case where an employee withdrew the entire super annuation amount upon resignation?
what i found online is: In the case of resignation of the employee, the employee has the option to transfer his amount to the new employer. If the new employer does not have a Superannuation scheme, then the employee can withdraw the amount in the account, subject to deduction of tax and approval of IT department, or retain the amount in the Fund, till the superannuation age"
This is referring to group super annuation policy employer had with LIC ( this is separate from PF/EPS/Gratuity)
From United Kingdom, London
1Has anyone known a case where an employee withdrew the entire super annuation amount upon resignation?
what i found online is: In the case of resignation of the employee, the employee has the option to transfer his amount to the new employer. If the new employer does not have a Superannuation scheme, then the employee can withdraw the amount in the account, subject to deduction of tax and approval of IT department, or retain the amount in the Fund, till the superannuation age"
This is referring to group super annuation policy employer had with LIC ( this is separate from PF/EPS/Gratuity)
From United Kingdom, London
Please contact Trustees of the Super Annuation Fund.Whether 100% withdrawal is provided under the Scheme? Please clarify what do you mean by withdraw complete super annuation amount (are you planning to withdraw balance Annuity amount invested?)
From India, New Delhi
From India, New Delhi
Thanks for your response Srinath
I got in touch with my ex-employer but they are not able to guide me - not getting any useful answers after chasing for a month! :(
The scheme was bought by the employer and only had employer contribution
I wish to claim entire contribution plus any interest
I have been given a LiC form but they are unable to give me group/master policy number or LIC id and no guidance on how to claim all of it
The form has options for yearly payment which I do wish you use
From United Kingdom, London
I got in touch with my ex-employer but they are not able to guide me - not getting any useful answers after chasing for a month! :(
The scheme was bought by the employer and only had employer contribution
I wish to claim entire contribution plus any interest
I have been given a LiC form but they are unable to give me group/master policy number or LIC id and no guidance on how to claim all of it
The form has options for yearly payment which I do wish you use
From United Kingdom, London
Dear Mr Sejaln, you have resigned from your Job in 2010.Have you not submitted your claim post resignation?Your Employers are the Trustees of the Fund.You have not categorically stated-First time are you opting for withdrawal
Please frame your question properly by giving all relevant details & address to your Employer/Trustees, not to Pay Roll Team
From India, New Delhi
Please frame your question properly by giving all relevant details & address to your Employer/Trustees, not to Pay Roll Team
From India, New Delhi
Hi Srinath
No I did not claim post resignation
I reached out to hr team but not getting any where
I do not have other contacts in that organisation
Has anyone here claimed full super annuation? If so which option I need to select in the form I attached in earlier post
Thanks
Sejal
From United Kingdom, London
No I did not claim post resignation
I reached out to hr team but not getting any where
I do not have other contacts in that organisation
Has anyone here claimed full super annuation? If so which option I need to select in the form I attached in earlier post
Thanks
Sejal
From United Kingdom, London
Dear Sejaln,you have to find out from Trustees/Employer, whether there is provision for Full Withdrawal of Group Super Annuation Fund? If Yes you can opt
Alternatively, you can opt for partial withdrawal & remaining by Opting for Monthly/Quarterly/Half Yearly/Annual Interest
Balance Fund lying in Account will normally returned to your Nominee after Death.
Please contact HR Head/Trustees by written Communication with the help of your Collegues/EX Employees to get more clarity.
It is high time you initiate action without any further delay.You should have initiated action immediately after resignation.Your HR Team should have advised to submit your claim
From India, New Delhi
Alternatively, you can opt for partial withdrawal & remaining by Opting for Monthly/Quarterly/Half Yearly/Annual Interest
Balance Fund lying in Account will normally returned to your Nominee after Death.
Please contact HR Head/Trustees by written Communication with the help of your Collegues/EX Employees to get more clarity.
It is high time you initiate action without any further delay.You should have initiated action immediately after resignation.Your HR Team should have advised to submit your claim
From India, New Delhi
hi Sirnath
thanks for your message
Please note i contacted my employer and not getting advise/help from them on full withdrawal. they are also not providing me with group policy number/membership no/LIC id
The form they gave me (attached in my previous response) does not have option for full withdrawal
not getting a response from employer/hr team
Best Regards
Sejal
From United Kingdom, London
thanks for your message
Please note i contacted my employer and not getting advise/help from them on full withdrawal. they are also not providing me with group policy number/membership no/LIC id
The form they gave me (attached in my previous response) does not have option for full withdrawal
not getting a response from employer/hr team
Best Regards
Sejal
From United Kingdom, London
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