I am a 41 year old married man with two sons and I make a decent living. Since few months my relationship with my wife has deteriorated significantly with no apparent reason other then finance. She is always trying to find a fault with me and as soon as she does, she just starts scolding me. I tried hard not to give her a reason to scold me, but that's making her even more frustrated as she creates even more drama when she finds a smallest of a fault which may not be necessarily mine but of my kids. She wont allow me to touch. She wont talk to me, she has this strange anger in her tone whenever she says few things to me. I am even taking her to a Foreign trip this march and we did quiet expensive trip last summer. I dont know what to do? I have tried to sit with her and talk. But no success

Ans: You have asked a very relevant and timely question.

You have worked for 28 years in total.

That includes 22 years in one private firm and 6 years before that.

At age 54, it is wise to evaluate your pension eligibility now.

Let’s go step by step and look at this from all angles.

First, Understand What You May Be Eligible For
You worked in private sector jobs for long years

Your PF was likely deducted from salary every month

Part of employer contribution goes into a pension account

This is not part of your main EPF balance you can withdraw

This is your pension component meant for retirement benefit

It is meant to give monthly income from age 58

That is if you meet the required minimum number of years

Check Whether You Crossed the Minimum Years Rule
To get lifelong pension, minimum 10 years of contribution is needed

You have already worked 28 years, so you clearly qualify

But what matters is if all those 28 years had PF contributions

Some old jobs may not have deposited EPS properly

You need to confirm how many years have valid pension deposits

You should ideally have 10 or more years of verified EPS service

How to Check the Contribution Details
You need to activate your Universal Account Number (UAN)

UAN helps you access all PF details in one place

Visit official portal and log in using UAN and OTP

Under service history, you can see all employers linked

You can see PF and EPS contribution month by month

If some older records are missing, don’t worry yet

You can add older employers manually with documentary proof

Submit previous appointment letters, salary slips, PF numbers

You can request field office to update records accordingly

That will help extend your service history for pension calculation

What to Do If You Don’t Have Some Older Records
Try to contact those old companies, if still operational

Request them for salary slips, PF number or any joining details

If company is closed, try to use Form 13 request

This helps in transferring old accounts under one UAN

If you have salary slips showing PF deduction, that’s helpful

You may need help from a PF office in your region

Visit nearest PF office with all available details

Request for EPS service update using manual submission if needed

When Can You Actually Apply for Pension
Full pension starts at 58

But you can also apply for reduced pension from age 50 onwards

This is called early pension option

But reduced pension gives smaller monthly amount

Since you are already 54, waiting till 58 is better

It gives higher payout compared to early claim

But in case of health or job issues, early pension is still allowed

You must not be contributing to EPS at time of application

How to Apply When Time Comes
When you reach 58, fill the pension claim form

You must submit bank details and KYC

You must ensure that all employment history is linked to UAN

PF office will verify service record and calculate pension

You’ll get monthly pension credited to your bank

The pension is for lifetime and gets transferred to spouse after you

How Much Will You Get as Pension
The amount depends on number of years in EPS

Also based on average pensionable salary over last 5 years

If salary was above threshold, the pension will be capped accordingly

The formula for pension has upper limits and fixed components

Your longer service will help increase the final monthly amount

Usually, people with 25+ years get reasonable pension amounts

But note that EPS pension is not inflation linked

So the amount remains fixed for life

It is meant only as a support, not full retirement income

Other Options If You Don’t Wish to Wait Till 58
If financial need is urgent, you may apply from age 50

But you will get around 30-35% lower pension

Once started early, the lower pension amount is locked for life

So think carefully before going for early option

At age 54, only 4 years remain for full pension

Unless financial pressure is too high, try to wait till 58

You can use PF withdrawal now for cash needs if not withdrawn yet

Pension must be claimed separately

So PF withdrawal won’t affect your pension eligibility

You must have exited employment and stopped contribution to claim EPS

Can You Combine EPS from All Jobs
Yes, you can merge multiple jobs under one EPS record

As long as UAN is same, and transfer done properly, it counts

Even if UANs are different, merging is possible with paperwork

Contact PF office with all job details and documents

They can help consolidate into one service record

This will increase your eligible service years

Which directly helps you get higher monthly pension

Mistakes to Avoid Now
Don’t withdraw EPS amount before applying for pension

EPS is not a withdrawal scheme after 10 years of service

If withdrawn, you will not get monthly pension

Many people confuse PF withdrawal with full exit

But EPS requires separate treatment

So never fill final settlement including EPS part

Ensure you apply only for pension when eligible

Suggestions to Prepare Financially Alongside Pension
Use PF balance for short term needs if required

Don’t rely only on EPS pension for retirement

It’s not enough to meet monthly living cost fully

Start a monthly SIP in mutual funds if you have surplus

Choose actively managed funds through a certified planner

Avoid direct funds, as no support or planning comes with it

Regular plans via certified professionals give better suitability

Use lump sum savings to start conservative mutual fund portfolio

Build your own monthly income stream besides pension

Also explore NPS for additional tax-efficient retirement corpus

Finally
You have already done 28 years of contribution-filled service.

This puts you in strong position to claim pension benefits.

Your age is perfect to start preparing the documentation for future claim.

Your presence of mind and awareness is very helpful at this stage.

Please keep all PF records, UAN details, and job letters safe.

Get all jobs added under one umbrella through the PF office.

Avoid withdrawing your EPS amount.

Instead, apply for monthly pension when you reach age 58.

If needed urgently, you may apply at 55 with lower amount.

Use PF corpus, not pension corpus, for short-term cash needs.

Also build alternate retirement income sources beyond this pension.

A well-planned mix of pension and investment gives peaceful retired life.

You are on the right track. Stay focused and organised.

Keep everything documented properly from now onwards.

Wishing you peace, health and financial confidence for your future years.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

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