Will I Get Pension If I Withdrew PF for House Purchase?

Ans: Given your situation, consolidating and tracking your EPF contributions and benefits can be a bit challenging but certainly manageable. Here’s a step-by-step guide to help you navigate this:

Consolidation of UAN: If you have a UAN (Universal Account Number), ensure that all your previous PF accounts are linked to it. You can do this by logging into the EPFO portal and checking the 'Manage' tab under 'For Employees'. If your previous companies have not linked your UAN to their establishment IDs, you can request them to do so.
Transfer of EPF: Use the EPFO's online transfer portal to transfer the EPF accumulations from your previous accounts to your current PF account. This will consolidate all your PF accumulations into one account, making it easier to manage and track.
EPS (Employee Pension Scheme): Since you have not withdrawn the EPS contributions from any of your previous employers, you can apply for a scheme certificate through your current employer. A scheme certificate provides details of your service and contributions and can be used to avail pension benefits at the age of 58.
Pension at Reduced Rates: If you opt for pension before attaining the age of 58, it would be at a reduced rate. However, if you choose to defer it, your pension amount will increase. You can apply for a reduced pension through your current employer or directly with the EPFO after completing Form 10D.
Contact EPFO: If you face any issues or discrepancies in your PF accounts, reach out to the EPFO regional office or helpdesk. Provide them with the necessary details and documents, including your UAN, PF account numbers, and service details with each employer.
Consult a Financial Advisor: Given the complexities involved in EPF and EPS, consulting a financial advisor or a retirement planner can be beneficial. They can guide you through the process, help you understand the implications of withdrawing or transferring your EPF and EPS accumulations, and assist you in making informed decisions regarding your retirement benefits.
Remember, it's essential to keep track of your EPF and EPS contributions and benefits to ensure you maximize your retirement benefits and make informed decisions. Taking proactive steps now can help you secure a comfortable retirement.

Ans: Hello;

Have you worked for a continuous span of 10 years or more without any break after 1995, please confirm?

Thanks;

Ans: Hello;

UAN was launched by EPFO in October 2014.

If you have withdrawn both PF and EPS after quitting jobs then the issue of pension doesn't arise.

No you can't contribute eps voluntarily it has to be accumulated through employer contribution only.

Since you don't have UAN you will have to apply personally to the EPF office where your past PF contribution was made.

Best wishes;

Ans: Your pension eligibility depends on the Employee Pension Scheme (EPS) rules. Let’s analyse it in detail.

Understanding the Pension Scheme
The Employees’ Pension Scheme (EPS) is managed by the Employees’ Provident Fund Organisation (EPFO).
It provides a monthly pension after retirement.
Your employer contributes 8.33% of your basic salary to EPS.
You do not contribute to this scheme.
The government also supports this fund.
This pension is different from your EPF corpus.
Eligibility Criteria for Pension
You must have completed 10 years of service to be eligible.
You should reach the age of 58 to get a full pension.
Early pension can be taken after 50 years at a reduced amount.
You need to submit Form 10D to claim your pension.
Service History Across Different Companies
Total service years are counted, even if you changed jobs.
If your EPF account was transferred, all years will be included.
Your UAN (Universal Account Number) links all past EPF accounts.
If there is any break in service, it does not affect total years.
Ensure all previous EPF accounts are merged under your UAN.
Pension Calculation Based on Service
Less than 10 years: You can withdraw EPS corpus using Form 10C.
10 years or more: You are eligible for a monthly pension at 58 years.
Above 20 years: Higher service years result in a better pension amount.
What You Should Do
Check if all past EPF accounts are linked to your UAN.
Verify your service history in the EPFO portal.
If any past job is missing, request your employer for an update.
If you change jobs again, always transfer your EPF to the new employer.
If you are not working now, you will still get a pension at 58 years.
Final Insights
You have 13.5 years of service, so you are eligible for a pension.
Ensure all previous jobs are linked to your UAN.
You can claim your pension at 58 years with Form 10D.
If any years are missing, get them updated in EPFO records.
A higher number of service years gives better pension benefits.
Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment