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47 Year Old Unemployed: Can I Withdraw My Pension?

Milind Vadjikar |1182 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Jan 25, 2025

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Question by Ajmal on Jan 20, 2025Hindi

Money

Hello Madam/Sir, I am 47 yrs old and currently unemployed for about 8 months since i resign from the company I worked with for close to 19 years. I am aware of the rules pertaining to PF withdrawals but not aware with regards to Pension withdrawal. Kindly advise how can I check for my Pension amount and if and how can I withdraw the money as I am in dire need of funds due to the current circumstances. My PF was with my ex-companies trust so no issues there but not able to check on Pension balance. Thank you in advance !

Ans: Hello;

Since you have completed more than 10 years of uninterrupted service while being a member of EPFO, you cannot withdraw the EPS contribution now.

You may get a EPS scheme certificate from your ex-employer.

Also you are eligible for reduced pension under EPS after you complete 50 years of age.

You may enquire with EPFO about your pension contribution.

Best wishes;

Asked on - Feb 10, 2025 | Answered on Feb 11, 2025

Thank You Sir ! Appreciate your help with the requested information. Kindly advise, what does reduced pension means and do i have to wait till age 50 ? As of now i am in dire need to funds so is there any way Pension amount can be withdrawn as that is the need of the hour. Kindly guide. Thanks you in advance !

Ans: Hello;

Suppose pension you are entitled to receive at 58 age is 100.

For every age year below 58 that you seek your pension gets reduced by 4%.

So at 50 age you may be entitled to a pension of 68(32% reduction) as per this rule.

Hope this helps.

Best wishes:

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Asked by Anonymous - Nov 02, 2023Hindi

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Sir,I have worked in private company from September 2011 to feb 2021 where my pf amount was deducted.l have completed 9 years 5 months service and resigned but not withdrawn pf amount.I want to get pension after 60 years what should I do ?

Ans: You can only get pension under the Employees' Pension Scheme (EPS) if you have completed at least 10 years of service. However, you can still withdraw your EPF amount even if you have not completed 10 years of service. To redeem your EPF amount, you can follow these steps:

1. Merge all your previous PF accounts. This can be done online through the EPFO website or at any EPFO office.
2. Fill the Composite Claim Form (Aadhaar based) and submit it to your previous employer.
3. Attach the following documents:

•Copy of your Aadhaar card.
•Copy of your PAN card.
•Bank account statement showing your IFSC code and account number.
•Cancelled cheque from your bank account.

4. Your previous employer will verify the details and submit the form to the EPFO.
5. The EPFO will process your claim and transfer the EPF amount to your bank account.

If you have not worked for more than two months after resigning from your job, you can withdraw the entire balance in your EPF account. If you have worked for more than two months after resigning from your job, you can withdraw only 75% of the balance in your EPF account. The remaining 25% can be withdrawn after two months of unemployment.

Note – If you will continue your services in another company for next 6 month you will be eligible for the pension.

Milind Vadjikar |1182 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Feb 11, 2025

Question by Ajmal - Feb 10, 2025Hindi

Hello Madam/Sir, I am 47 yrs old and currently unemployed for about 8 months since I resigned from the company I worked with for close to 19 years. I am aware of the rules pertaining to PF withdrawals but not aware of anything with regards to Pension. Kindly advise how and where can I check for my Pension amount and how can I withdraw the money as I am in dire need of funds due to the current circumstances. My PF was with my ex-company's trust so no issues there but not able to check on Pension balance as the information is not available with the company. Kindly advise, what does reduced pension means and do I have to wait till age 50 ? As of now I am in dire need to funds so is there any way Pension amount can be withdrawn as that is the need of the hour. Kindly guide. Thank you in advance !

Ans: Hello;

If you have uninterrupted service for more then 10 years while being contributing member of EPFO, then you cannot withdraw EPS balance.

If you have active UAN you may log into EPFO portal and check EPS accrual.

You may get reduced pension after completing 50 years of age.

Reduced pension is pension member can avail after 50 age and pension amount is reduced by 4% for every year below 58.

So at 50 you may get 68% of the pension you are expected to receive at 58.

Hope this helps.

Best wishes;

Milind Vadjikar |1182 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Apr 12, 2025

Asked by Anonymous - Mar 22, 2025Hindi

Money

Hi, I have joined on 14th July 2014 and resigned on 22nd oct 2024. Its been 10 years and 3 Months. Its been already 3 months completed after my resignation and i didn't joined any job. Now I want to withdraw my full PF amount along with pension. Please suggest me the process.

Ans: Hello;

You mau fill form-19 and submit it to EPFO for withdrawal of PF.(Online or in person)

EPS withdrawal is not allowed after completing 10 years of non- interrupted service and contribution.

You may opt for reduced pension after completing 50 or regular pension after completing 58.

Best wishes;

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Career Counsellor - Answered on Apr 19, 2025

Question by Pritam - Apr 19, 2025Hindi

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Hello, my jee mains 2025 sc rank is 7402 Can I get mechanical engineering in iiest shibpur?

Ans: Esteemed Pritam, You have not specified whether you are a resident of the Home State (WB) or the Other State (OS). In any case, there is an 85% likelihood that you will get ME in IIEST-Shibpur. Conversely, ensure that you have backups and satisfy the utmost number of options. In order to produce a predetermined schedule of NITs/GFTIs/IIITs to which your rank will qualify for admission, here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile | Convert the Percentile to AIR, based on the Formula available in Google.
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

Nayagam P P |4445 Answers |Ask -Follow

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Asked by Anonymous - Apr 19, 2025Hindi

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What IIIT OR NIT can I get with 77.92 percentile in jee mains 2025( OBC category female)

Ans: Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile | Convert the Percentile to AIR, based on the Formula available in Google.
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

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Question by Tarun - Apr 19, 2025Hindi

Career

Hi Sir, My son got 88 percentile in session 2. Pl suggest what engg college can be applied with this score.

Ans: Tarun Sir, Here is, How to Predict Your Son's Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your Son's admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Son's Key Details
Before starting, note down the following details:

His JEE Main percentile | Convert the Percentile to AIR, based on the Formula available in Google.
His category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
His Preferred institute types (NIT, IIIT, GFTI)
His Preferred locations (or if you're open to any location in India)
List of at least his 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If your son is open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Son's Preferred Academic Program (Branch)
Enter the branches your son is interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch your son is interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust his Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your son's expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs for your son.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your Son's admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

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Question by RAMAKRISHNA - Apr 19, 2025Hindi

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Sir can my son with 99.07 percentile get CSE in Tier 1 NIT.If no CSE then which branch has good career scope Home state is Andhrapradesh.Plse advise

Ans: Ramakrishna Sir, Can go for ECE or Mechanical or CSE (Ai & DS) or CSE (Cybersecurity) or Even Mechanical. All the best for your Son's admissions!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'.

Milind Vadjikar |1182 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Apr 19, 2025

Question by Debabrata - Apr 17, 2025Hindi

Money

Hi sir. I'm now 59+ years of age and still in employment and PF contribution continues. Can I claim maximum withdrawal of funds (>90%). Is it possible? If so, how? I don't see any option in EPFO site.

Ans: Hello;

You may try online withdrawal again under para 68NN but my view is that it is cumbersome, non user friendly and hence can be frustrating.

You may also approach the EPFO office where your PF account is held physically and submit your withdrawal request under para 68NN by enclosing all supporting documents.

If all documents are in order, you may expect to receive funds in 2-3 weeks.

Best wishes;

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Asked by Anonymous - Apr 19, 2025Hindi

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My daughter has passed class 12 with commerce not too good at maths what can she do

Ans: Hello Dear.
Even if somebody is weak in Mathematics (academic), one can a successful in life. Here are some options for your daughter where she can build her career: (1) Travel & Tourism / Hotel Management (2) Teaching / Education (3) Digital Marketing (4) Fashion Designing / Interior Designing / Animation (5) Company Secretary (CS) (6) Mass Communication / Journalism / Media Studies (7) BA in Economics / English / Psychology / Sociology (8) BBA / BBM (Bachelor of Business Administration / Management) (9) Bachelor of Commerce (B.Com - General or Specializations) and many more options related to computer field. I think you must motivate her for CS, which is in high demand.
Follow me if you like the reply. Thanks
Radheshyam

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Jee mains 2025 ews womens catogry 91 marks obtained kya mujhe nit cse mil skta hai

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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