What is Super Annuation Benefit and how to check it online ?

May 13, 2009 · 126 comments

This post will explain how to check your Superannuation Balance if your employer maintains it with LIC .

I will share with you an important thing today which one of my friend Subbu has figured out himself . Credit goes to him.

A lot of employees do not care to check there Superannuation amount , or they are not even aware that it exists. Knowing the amount of your superannuation can be helpful , because then you know that you have that much saving and hence when you plan your investments , you can factor in this information and take better decisions . This small amount make big chunks of your portfolio .

What is Superannuation Benefit ?

Superannuation is a retirement Benefit by employer . It is a contribution made by employer each year on your behalf towards the group superannuation policy held by the employer. This is an important part of creating wealth for your retirement .


Some other points are :

a) Superannuation Fund is a retirement benefit given to employees by the Company.

b) Normally the Company has a link with agencies like LIC Superannuation Fund, where their contributions are paid.

c) The Company pays 15% of basic wages as superannuation contribution. There is no contribution from the employee.

d) This contribution is invested by the Fund in various securities as per investment pattern prescribed.

e) Interest on contributions is credited to the members account. Normally the rate of interest is equivalent to the PF interest rate. Read what is EPF and PPF ?

f) On attaining the retirement age, the member is eligible to take 25% of the balance available in his/her account as a tax free benefit.

g) The balance 75% is put in a annuity fund, and the agency (LIC) will pay the member a monthly/quarterly/periodic annuity returns depending on the option exercised by the member. This payment received regularly is taxable.

h) 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.

Source : http://www.citehr.com

What is the SuperAnnuation Amount ?



Interest Earned :
This is interest paid by LIC every year on the contribution by employer .

Rules of Superannuation on Maturity

Once the employee completes 3 years of service and works till his/her retirement, he/she can make use of superannuation balance as a form of pension. He/She can withdraw 1/3rd of the accumulated balance after retirement and the rest can be availed as monthly pension till end of life.

Steps for checking Superannuation balance online?

1. Go to licindia.com

2. Register for a user id and password.

3. Login.

4. Click on ‘Group Scheme Details’ tab.

5. Click on ‘member’ radio button.

6. Get the group policy number for super annuation from your company’s payroll department and enter ” in the policy number text box and click ok. (Talk to your finance department for getting the group policy number , this will be unique for all the employees of a company).

7. It will ask for LIC Id no and Date of Birth fields.

8. To get LIC Id no, call LIC branch with which your employer has a super annuation account and inform that you are calling from your company and provide your name to the LIC official. They will give your LIC ID No.

9. Since most companies had not furnished the date of birth details to LIC, enter ’01/07/1960′ / ’07/01/1960′ (forgot the order, try both n check) in the date of birth field.

10. You will get the policy enrolled and you can click on the policy number to view the details. The details will contain the accumulated balance till the last financial year. It also shows contribution made by your employer i the current financial year.

Are you able to see Superannuation Balance for yourself ? Were you aware of it ? Please share with us on comments section . Also please share if you find any discrepancies with the steps .

Note : Some data for this post may be out of date , If one comes to know about it , please let us know ,so that I can make the changes .

Last post was a video post where I talked personally about “How to choose mutual funds” using valueresearchonline.com site .

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{ 126 comments… read them below or add one }

1 Anonymous July 21, 2009 at 1:07 am

Can some one let me know calculation sheet available to make out what ROC benificary or nominee will be getting in Life + Roc scheme for corpus of 10 lacs with start age as 42 and estimated life up to age of 90. I am unable to get answer from LIC as well my employer.

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2 Manjunath August 6, 2011 at 3:10 pm

If my understanding is right, Corpus is what is left behind with LIC after commutation (max of 33% of total contribution +interest accrued can be commuted). Your annuity amount depends whether your annuity os monthly or qursterly, half yearly or Yearly and the Corpus. In the case of Annuity for life, the annuant will receive annuity till death (whatevber be the age at death). Upon the death of the annuant, his/her legal heir gets the entire amount in corpus without any interest, etc.

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3 Manish Chauhan August 6, 2011 at 10:19 pm

Manjunath

Even there is a option , if you want the corpus at the end of your death or not , If you choose that you get the corpus ,then your pension becomes more lesser .

Manish

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4 Manjunath August 8, 2011 at 9:23 am

Yes, I agree with you. There are 5 differnet options one can exersie at the time of retirement/change of job/etc. They are all listed in the LIC of India web site under Group superannuation scheme.

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5 Manjunath August 9, 2011 at 6:55 pm

Dear,

In the example you are talking about, the beneficiary or nominee will only get Rs10Lakhs, which is the corpus, in the event of the death of the annuant. If annuant lives upto 90 years, he/she will receive annuity for 48 years. The beneficiary or nominee will come into picture only at the time of death of the annuant.

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6 Manish Chauhan July 21, 2009 at 1:59 am

is it related to Superannuation ?

manish

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7 gp July 30, 2009 at 4:19 am

I was eagrly searching for this valuable information.Thank you for your informative article and I could login to my details on licindia.com site. I have already commuted one third pension I am quarterly receiving annuity however I wish to withdraw the balance amount. I am 56 years old and had resigned from the Company and now I am unemployed.i shall be thankful if you could guide me for full withdrawal of the money.Thanks once again…Ram gp

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8 Manish Chauhan July 30, 2009 at 4:22 am

@gp

I am sorry but i dont have full information on this , the best thing for you would be to bug LIC to help you on this .

Manish

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9 Manish Kataria December 15, 2009 at 9:36 pm

It is good to know.

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10 manish December 16, 2009 at 10:30 am

Welcome to Jagoinvestor :)

Manish

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11 Dikul December 18, 2009 at 4:28 pm

how can i know my super annuation amount online????
where i register ?
naw i m working in cema.
pl. any body help me?

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12 manish December 18, 2009 at 6:50 pm

Dikul

Try asking your Company Finance dept .. Or better ask in Forums here at this blog

Manish

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13 Narendra Kumar Gupta December 25, 2009 at 5:16 pm

I was working from Feb 1995 to August 2005 with United Phosphorus Ltd at Ankleshwar Gujarat & my Super annuation Fund was getting deposited at LIC India Mumbai.After resignation from there I joined & worked from Oct 2005 to June 2006 with Hindustan Construction Co & Super annuation Fund was also deposited at Mumbai.After resignation from there I am working with Co. which does not have Super annuation Scheme.
1.I want to know how can I combine both accounts into one.
2. Or I can withdraw superannuation fund totally from both these account separately without any loss.
Please guide me.

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14 manish December 26, 2009 at 5:53 am

Narendra

Better you ask this question on jagoinvestor forum , I have no information regarding this .
Try to get more info from your previous company .

Manish

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15 balbir2997 January 6, 2010 at 12:10 am

Hi Manish,

Thanks for this article. I have successfully added super annuation in my LIC portal.
I got group policy number and LIC id number both from my finance department. And for
the for birth details, I tried 01/07/1960, my DOJ and DOB, and luckly DOB worked :)

Thanks again,
Balbir

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16 manish January 7, 2010 at 12:21 am

nice .. i am glad it worked for you ..

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17 Madhu April 3, 2011 at 4:30 am

Hi,

It is regarding checking of my superannuation fund balance online. I have my company’s group policy number and LIC id.
When I open ‘new user registration’ in licindia.in, it asks for following 4 information:
1) Policy No:
2) Installment Premium:
3) DOB:
4) Email ID:

Should I use the group-policy number in first box?
I don’t know what premium amount to put.

Please help,
Thanks,
Madhu.

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18 Manish Chauhan April 3, 2011 at 5:24 pm

Yes you have to put your policy number in the first column .

Manish

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19 Madhu April 3, 2011 at 5:33 pm

Manish, thanks for the reply.
I used 6-digit policy number, excluding GSCA. It says that policy number is used. What to do?
What premium amount to use.. as it kept varying every year and I have left the company now?

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20 Manish Chauhan April 4, 2011 at 10:20 am

Madhu

You should ask this on our forum now , as I think there will be some one who might have seen this already : http://www.jagoinvestor.com/forum/

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21 AnanthKRS January 9, 2010 at 12:11 pm

Wonderful, thanks for the info. it was very useful

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22 manish January 9, 2010 at 1:23 pm

thanks Ananth

I am glad it helped you :)

Manish

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23 sandeep February 14, 2010 at 1:48 am

thanks. I knew my company had SA funds and i can see reports of the amount my company has…but never knew what it meant :)

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24 Manish Chauhan February 14, 2010 at 2:23 pm

Sandeep

Glad to know that you know it now , Better know what all is yours , so that at the time when you need it, you can use them all .

Manish

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25 prashanth March 19, 2010 at 5:44 pm

My company has SAF scheme, but the policy states that the amount will be deducted from the employee salary towards SAF. Its unlike what u said that employer will fund. I am bit confused if i have to opt for it :S

-prash

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26 vivek sipani April 24, 2010 at 5:57 am

Dear friends,
I would like to know:-
Whatever ammount i invest in SA is it deducted from my gross salary like”Housing loan Interest” i.e. is it a ammount that is above 1.0Lac normal investement which we do or not??.If any one clear ,pl help.

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27 Manish Chauhan April 24, 2010 at 10:14 am

Vivek

Superannuation does not form part of 80C , also its not done explicitely by you . its a seperate thing .

Manish

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28 Shantharam May 4, 2010 at 8:37 pm

Friends,

Wanted to know if the 15% contribution by the company is a monthly one or yearly ?

Thanks,
Shantharam

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29 Ajay June 7, 2010 at 3:14 pm

@Shantharam,
I think it is 15% of the basic and is deducted monthly. Eventhough the 15% of yearly basic also adds up to the same value of 15% of monthly * 12 months. I am not use if the company deposits it with LIC every month / quarter / yearly.

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30 yashodhan June 9, 2010 at 3:26 pm

I received the group policy no from my employer which is GSCA/… followed by a 6 digit number. I am trying to enter those 6 digits, but it says policy number is not correct. I dont understand the problem, because the Policy number is correct as received from our payroll dept. Could you tell me what could be the problem?

thanks.

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31 Manish Chauhan June 9, 2010 at 4:16 pm

Are you sure you are putting date correctly , reverse the date order and check ?

manish

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32 Ashutosh July 1, 2010 at 7:26 pm

Thanks. Following your instruction above, I could upload my SAF in my account. Thanks once again.

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33 Manish Chauhan July 1, 2010 at 8:47 pm

Great to hear that :)

Manish

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34 Pash July 16, 2010 at 4:46 pm

I am eligible for SA and it is deducted from my salary (15% of the basic).
Does company add 15% additional basic to the SA account?
It is possible to use this under section 80C?

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35 Manish Chauhan July 16, 2010 at 6:40 pm

I dont think so , they say SA comes under 80C , but i havent seen anyone including it

Manish

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36 D.Venkateswaran August 15, 2010 at 12:33 pm

LIC Superannuation scheme: Question: Supplose my account is showing a balance of around 5 lacs after two years(my age 60 years at that time), what will be my monthly pension and upto what age, will i get pension. Whether my wife will get any amount after my death. Pl clarify.

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37 Manish Chauhan August 15, 2010 at 1:27 pm

DId you not find your answers here : http://www.licindia.in/group_schemes_004.htm

Manish

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38 Gautam Sarkar September 8, 2010 at 3:01 pm

I am working in an organization which has superannuation scheme since last 19 years. My present basic salary is 1600/- Can any one help me to know how much and in what way I will be able to get benefit from this scheme and what will be the approx. amount of pention per month.
Thank you
Gautam Sarkar

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39 Manish Chauhan September 8, 2010 at 10:29 pm

Gautam

This would be very specific to your company , you need to extract info from your department .

Manish

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40 kumar October 11, 2010 at 12:32 am

Hello,
I just wanted to thank you.
After reading about supperannuation on this website I did get my LIC id from my company and can view it online on LIC’s website.

Thanks again.!

Kumar

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41 Manish Chauhan October 11, 2010 at 9:08 pm

Kumar

Good to hear that :)

Manish

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42 Madhusudhan Kumar January 11, 2012 at 4:47 pm

Hi..
For Date of Birth, I used 01/07/1960, 07/01/1960, DOB, DOJ. It says it is invalid authentication. What did you use?

Thanks,
Madhu

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43 Ajay October 17, 2010 at 3:35 pm

The steps worked for me…

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44 Manish Chauhan October 17, 2010 at 3:49 pm

Wonderful :)

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45 N.Balasubramanian November 14, 2010 at 4:28 pm

Request clarification Sir,
After 60 years, on receipt of commutation amount from LIC ,to the trust, who inturn has to pay, says that they will deduct income tax based on previous 3 yrs.
The commutation amount is about Rs. 2.5 lacs.
Kindly clarify. Regards. NBS

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46 Manish Chauhan November 14, 2010 at 4:29 pm

N.Bala

You should ask this question at : http://www.jagoinvestor.com/forum/

Manish

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47 Kunal December 6, 2010 at 12:22 pm

Hi Manish,

Thanks for the article, I have some queries in my mind.
My previous employer use to deduct SA amount on monthly basis and submit it to LIC (I have the reciepts). Its a private firm & I worked there almost 2.9 years. Thereafter I joined another private firm which doesn’t have any SA scheme so clear my below doubts.

Do I am eligible to withdraw SA; if yes than how much can I withdraw, partial or full amount?

If I can’t withdraw SA is there a procedure to transfer even if my present employer doesn’t have any SA scheme

Kindly clarify, thanks kunal

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48 Manish Chauhan December 6, 2010 at 1:07 pm

Kunal

I would recommend you ask this question on our Forum : http://www.jagoinvestor.com/forum/

Manish

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49 Kunal December 7, 2010 at 9:48 am

Hi Manish,

I am able to enroll the policy…excellent and very helpful article.

I have one query who do I claim this amount from LIC? please help me the procedure.

thanks, kunal

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50 Manish Chauhan December 22, 2010 at 2:33 pm

Kunal

It would be wise to pose your question on the forum : http://www.jagoinvestor.com/forum/

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51 PADMNABH TRIPATHI December 23, 2010 at 3:26 pm

i am having group policy and lic id but while entering DOB my policy is not getting registered?

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52 PADMNABH TRIPATHI December 23, 2010 at 4:09 pm

i am having group policy and lic id but while entering DOB my policy is not getting registered, Ihave tried the options like ’01/07/1960′ / ’07/01/1960 & even my DOB. Now what to do?

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53 Manish Chauhan December 23, 2010 at 4:23 pm

Try 1960/07/01

Manish

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54 PADMNABH TRIPATHI January 17, 2011 at 10:27 am

it is not accepting this format? I have tried all the ways?

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55 Manish Chauhan January 17, 2011 at 10:21 pm

Padmanabh

I am not sure in that case .. you can try asking on forum : http://www.jagoinvestor.com/forum/

Manish

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56 Keyur Shroff February 14, 2011 at 8:41 pm

I was also facing the same problem last month as my DOB and other dates were not working and the LIC webpage was giving authentication related error. I contacted LIC through my company and requested them to look into the problem. Then I tried after some days and I was able to see my superannuation policy.

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57 Manish Chauhan February 15, 2011 at 8:21 pm

Keyur

Thanks for letting us know this .. It gives a good solution to others .

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58 bhaskar gogoi January 4, 2011 at 7:33 pm

I tried this with the details like Master Policy No., LIC Id and ’01/07/1960′ and got my details.

Also this site damn slow, took me several attempts to get to the desired page.

Thanks

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59 Manish Chauhan January 4, 2011 at 8:29 pm

ok great

There are many who are not able to get the details

Manish

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60 rukesh January 16, 2011 at 10:19 pm

hey manish my super anuation fund goes to hdfc & not lic…then how will check the performance of ma fund…n also is choosing hdfc over lic .. a good idiea???

regards

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61 LIC January 17, 2011 at 1:12 pm

I love LIC insurance not any others.

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62 Manish Chauhan January 17, 2011 at 2:25 pm

I am sure you do !

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63 rukesh January 17, 2011 at 5:53 pm

i dnt get ma answer…il repeat…
my super anuation fund goes to hdfc & not lic…then how will check the performance of ma fund…n also is choosing hdfc over lic .. a good idiea???

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64 Manish Chauhan January 17, 2011 at 5:59 pm

Rukesh

Something similar should be there with HDFC , you should be quering this with HDFC , it should not be a major problem even if its with HDFC , but never heard or it .. people will suck your blood out if they hear it .. they just dont like it .. its a attitude issue !

Manish

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65 rukesh January 20, 2011 at 9:41 pm

thnx fr d reply manish

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66 Manjunath January 23, 2011 at 3:42 pm

Dear sir,

Can anyone, please, explain the following options of payment of Pension?

Pension guaranteed for 5/10/15/20 years and life thereafter

This is regarding the Group Superannuation scheme

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67 Manish Chauhan January 23, 2011 at 4:47 pm

Manjunath

More lower the tenure , the larger the pension, decision is yours

Manish

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68 Bhargava February 2, 2011 at 5:47 pm

Dear sir ,
my company SUPERANNUATION SCHEME is maintained in LIC chennai branch . i know Group Id . i am unable to get Policy id for the same . Do you have any help line numbers for getting policy id could you please post the same .
Regards
Bhargava.

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69 Manish Chauhan February 2, 2011 at 6:10 pm

Bhargava

You should ask it on forum , you will get others views : http://www.jagoinvestor.com/forum/

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70 Ajay February 2, 2011 at 8:21 pm

Bhragava – LIC sends a report every financial year with the contibutions, balance etc. Your payroll should have this ID with them. Check with them

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71 Bhargava February 3, 2011 at 11:09 am

Hi Ajay and Manish

thanks for you immediate replay. Polaris payroll gave one document for withdrawn superannuation amount . i am unable to fill few of the columns. can you please help me . i had worked Polaris 3.9 years .
I need to withdraw all my superannuation amount.
I need to withdraw all my superannuation amount.

1) Whether commuted Value is desired? YES / NO
(1/3 of Pension can be commuted by those
receiving Gratuity and 50% for others)
What i can fill for this question this yes or no

2) Tye of Pension selected
a) Life annuity with Return of Capital
(OR)
b)_______________________________________

i want to withdraw all my amount with out chosen any pension. What is the option i can choose .

c) Mode of Pension: Monthly / Quarterly / Hly / Yearly

What can choose the option

Regards
Bhargava

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72 Manish Chauhan February 3, 2011 at 11:40 am

Bhargava

In your case as you have not worked for 5+ yrs, you will not be eligible for gratuity , In your case , You will NOT BE ABLE to withdraw 100% of superannuation ., Its not possible so you have to go with 1/2 option . 1/3 is for people who are eligible for gratuity .

So you will get 50% money withdrawan and other 50% will have to go with LIC for pension which you will get after you are old enough to get it :( .

Now its your option which kind of pension option you choose , the less the tenure , the higher the pension , if you want to get the money at the end , you will recive less pension . Pension frequency if what you have to choose , choose monthly only

Manish

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73 Professor Dhabalendu Samanta February 7, 2011 at 6:02 pm

Hello Manish,

I have worked in my previous organization for 10 years. I have applied for withdrawing superannuation money around 8 months back. I have not received any money till date. Whenever I asked my previous organization I receive reply – “we are following up with LIC and we will let you know as soon as settlement cheque will reach us”.

I request you to let me know how I will come to know the actual status of my superannuation money.

With Regards,
Dr. Dhabalendu Samanta
AEC, Agra, U.P.

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74 Manish Chauhan February 7, 2011 at 6:06 pm

It would be good idea to ask it on forum , there are better knowledgable people than me on this point

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75 P S Patil February 17, 2011 at 3:26 pm

Thanks I could retrieve the information as given in the artcle thanks once again.
p s patil

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76 Manish Chauhan February 17, 2011 at 3:35 pm

Nice .. can you share what you did ?

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77 B.Mohan March 24, 2011 at 1:55 pm

Hi Manish, 24.3.2011
LIC is giving me only 6% interest monthly (Rs 1182) on Rs 208364,
from last 7 1/2 Yrs i.e from 1.8.2003 tilldate, as they are giving very low rate of interest, what are my options to get high rate of interest,as we cannot fight with LIC OF INDIA, as we are old & we do not have any group & we
do not know whom to approch. Waiting for your guidance.
Thanking you,
Regards
B.Mohan

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78 Manish Chauhan March 24, 2011 at 3:12 pm

B. Mohan

Which policy are you talking about , LIC is giving you the interst as per hte policy only which you agreed by signging the documents .

Manish

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79 Bhagyashree May 1, 2011 at 11:57 pm

thanx a lot for the valuable post!!!!!!11

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80 satish May 2, 2011 at 10:48 am

Very informative and valuable piece of information. Keep up the good work.

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81 Manish Chauhan May 2, 2011 at 11:10 am

Satish

Thanks

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82 LIC May 2, 2011 at 11:32 am

Life Insurance is being popular due to its jeevan saral plan. In this plan nominee can get @250 times of the monthly premium and total premium deposited with LA if applicable.

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83 Manish Chauhan May 2, 2011 at 11:59 am

Can you please compare it with SIP in mutual funds for long term like 10-20 yrs ? It would really help to take decision ?

Manish

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84 gorvishal May 12, 2011 at 5:53 pm

Hi Friends,

I have resigned from my Job & planning to settle abroad on PR visa. I am working in my organization from last 7 years & having benefit of superannuation. Can anybody guide me whether I am eligible to withdraw 100% of my superannuation contribution by providing valid Visa (PR) copy to LIC? Does anyone know rules pertaining to withdrawal of 100% superannuation contribution in case of foreign migration of employee?

Your early reply will be highly appreciated.

Regards,

Vishal Gor
Mumbai

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85 saxena May 20, 2011 at 2:27 pm

basic question, some one in my company told me that the contribution towards superannuation which is 15% of the basic, wil come from my salary, where as i read above that contribution is made by the company ?

c) The Company pays 15% of basic wages as superannuation contribution. There is no contribution from the employee.

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86 Manish Chauhan May 20, 2011 at 4:51 pm

Saxena

Yea , it comes from the company , its added in your CTC .

Manish

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87 SHAILENDRA SHARMA June 20, 2011 at 12:28 am

I had serve a co. for 9yr one month. When I joined, they had the trust & .S.A benefit till 5 year of service. Nothing was shown to us in writing. Mean while co. extende it to 10 years through LIC, that what I have listen. They never mentioned this benefit on papers, bu on the increament letter of 7th year it was mentioned & included in CTC. Now when I ask, they refuse to accept it & says it is lapsed as I have not completed 10 year of service? As such there was no agreement in between. My new emploey does not have such scheme. Kindly yell me how I can get my money now? What are the legal aspects for the same? Can I sue them in court?Please help me.

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88 Manish Chauhan June 21, 2011 at 8:52 am

Shailendra

Superannuation benefit is not a mandatory thing in India ,its on employer part if he wants to provide it or not , as you didnt had any written agreement on the same , I dont think you can now push for it . If you had something in written , then there are some legal base to fight the case , still I would recommend you consult a CA on this for more deeper understanding .

Manish

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89 Rajesh July 28, 2011 at 9:25 am

Hi Manishji,

I have resigned recently from my current company after working for 3 and half years. Can I withdraw complete superannuation accumulated? I am aware that withdrawal of superannuation would attract tax, but not sure whether 100% accumulated amount can be withdrawn.

Thanks
Rajesh

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90 Manish Chauhan July 29, 2011 at 11:47 am

Rajesh

My case was exactly like yours . I also resigned after 3.5 yrs . You wont get 100% of super annuation . It will be part of that . I mean you will get it but after tax

Manish

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91 mathew August 5, 2011 at 2:21 pm

My company had a LIC superannaution policy. Now we were given option to continue it or discontinue. I have discontinued it. How can i get the entire money back . I do not mind even if tax is deducted, but i am urgently in need of money due to my fathers medical emergency. Please help.

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92 Manish Chauhan August 6, 2011 at 10:45 pm

Mathew

Are you sure you will get all the money ? I think “discontinue” here means that you dont need to contribute more in it from now onwards

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93 Anju Batra August 9, 2011 at 12:05 pm

Hi Manish,

Nice information.
I tried the process to check the accumulation but could not even register. It asks for premium installation amount to register. Does it mean individual installment or Company’s installment? no idea, How to proceed. Can you help? One more thing, Do you have fare idea about rate of interest paid by LIC since year 2001? If you can share, will be help.

Thanks & regards,

Anju

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94 Manish Chauhan August 9, 2011 at 8:30 pm

Anju

the best answer will come from our forum , ask there : http://www.jagoinvestor.com/forum/

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95 Anju Batra August 11, 2011 at 9:24 am

Hi Manish,

Fortunately, I could speak someone from LIC office and understood that only individual superannuation update can be checked online not the group one. Also I have received the rate of interest paid on our group gratuity too.

Still you made me to dig out and find answer of these questions, thanks
for that.
Anju

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96 Ravi August 23, 2011 at 3:17 pm

Very useful information…. thnQ all..

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97 J Pramod Kumar August 30, 2011 at 6:04 pm

Hi
This was a brilliant piece of information, i have certainly benefited out of this. Keep this going

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98 Manish Chauhan August 31, 2011 at 10:30 am

Pramod

Thanks … tell more people about it

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99 PRAVIN WANKHADE September 15, 2011 at 5:45 pm

I have worked with Ispat Industies Ltd for the period 27/01/2007 to 16/06/2007. During this tenure they have deducted my superannuation amount INR 2100 per month. When i called their HR Dept they said on my full and final settelment they gave me jan – march 07 (3 month amount) and for April – June 07 (3 month) they said they cant give the the balance amount.
Now sir i would like to ask you can i get this amount?
Please guide.

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100 Manish Chauhan September 16, 2011 at 10:48 am

PRavin

As they said that they made all the payment , so it must be true .. also super annuation is given on certain rules ..

Manish

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101 S.N.Ingole October 13, 2011 at 2:34 pm

I got retired in the month of June’2011 after servive of 28 years. Till date I am yet to receive 1/3 commuted payment as well as monthly pension from LIC. How long I have to wait.

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102 Manish Chauhan October 14, 2011 at 11:08 am

SN Ingole

You need to enquire it from LIC only .

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103 R RAVIKUMAR October 21, 2011 at 1:02 pm

Dear all

Pl clarify my doubt.

I have a member with account number and yearly accumulations also given for a period of 13 and half years. After my resignation my management refuse to pay my super annuation saying that i have completed the age (50 Years) and the service (15 years) period. This requirement has been implemented by the management during the 13th year of my servic. \
Pl clarify, any such rules linked with LIC is available, if so whether such rules can be impledted post facto?
I have about 1.5 Lakhs, i have all the annual accumulation papers given by management ? I am struggling to get the same from the management for the last 8 years. Advise me the possibilities? how i can get my SA accumulations?

Reply

104 R RAVIKUMAR October 21, 2011 at 1:04 pm

Dear all

Pl clarify my doubt.

I have a member with account number and yearly accumulations also given for a period of 13 and half years. After my resignation my management refuse to pay my super annuation saying that i have not completed the age (50 Years) and the service (15 years) period. This requirement has been implemented by the management during the 13th year of my servic. \
Pl clarify, any such rules linked with LIC is available, if so whether such rules can be impledted post facto?
I have about 1.5 Lakhs, i have all the annual accumulation papers given by management ? I am struggling to get the same from the management for the last 8 years. Advise me the possibilities? how i can get my SA accumulations?

Reply

105 KUNJUMATHUNNI November 24, 2011 at 10:44 am

Sir,
I would like to know my LIC ID of folg Policy, which has not been provided by LIC. Please help.

Regards

From: MSP
To: Customerzone_delhi
Sent: Friday, July 01, 2011 2:35 PM
Subject: Siuperannuation – Policy No. GS/CA/48538/1452

Dear Sir,

I am an employee of Max India Ltd, who has the above SA policy with your office at Div. office 1 (25 Kasturba Gandhi Marg)..

I would like to know my LIC ID to enrol at the LIC portal. Please provide.

Regards

Kunjumathunni.M
LIC Policy holder

Reply

106 Manish Chauhan November 24, 2011 at 11:06 pm

Did you talk to customer care of LIC ?

Manish

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107 KUNJUMATHUNNI November 25, 2011 at 9:38 am

yes please. the folg reply
—– Original Message —–
From: customer zone
To: MSP
Sent: Monday, July 04, 2011 5:42 PM
Subject: LIC REPLY H

Dear Sir,

We may inform you that policies taken individually from LIC can only be registered in the Customer Portal..Group pension policy can not be enrolled/viewed in Customer portal..

Thanks !

Team,
LIC CUSTOMER ZONE-I DELHI
H-39, New Asiatic Building,
Connaught Place
New Delhi.

Reply

108 Madhusudhan Kumar January 11, 2012 at 4:49 pm

Try group policy number as 48538 and lic id as 1452.

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109 SURAJ BHASIN January 16, 2012 at 2:29 pm

Dear Madhusudhan

Thanks for the guidance.

Regards

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110 Rhaama Mohan November 26, 2011 at 12:58 pm

Dear All,

I have a query my company is having super annuaction fund,for my existing job i have resigned but they have not clearedmy setelment.

Kindly suggest how to get back my money.

Thanks & Regards

Rama mohan

Reply

111 Manish Chauhan November 29, 2011 at 2:49 pm

Rhamma

They will give you the right explaination for this . what are they saying ?

Manish

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112 Ciby John November 30, 2011 at 10:50 am

Want to know if it is compulsory to join the company’s superannuation plan. I am not interested but company is insisting that i be a part of it. Also i came to know that the funds is not deposited before completion of 5 years of each employee with LIC. I don’t know what is that agreement/adjustment with LIC. Also the company will not return back the money if i do not complete minimum of 5 years. All this i came to know only after joining and feel very cheated. I would like to come out of the scheme and since i have only completed 1 year, i don’t mind relinquishing my earlier contribution in this regard. Please advise.

Regards,

Ciby John

Reply

113 SURAJ BHASIN December 2, 2011 at 10:15 am

Please let me know if there is any option to check the LIC ID of Annuity can be checked as customer care numbers are always non responsive.

Regards

Suraj

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114 Manish Chauhan December 4, 2011 at 7:06 pm

Suraj

Ask this on our forum : jagoinvestor.com/forum

Reply

115 Shankar.K December 17, 2011 at 8:26 pm

I have resigned from one organisation after completion of 17 years of service, and they told me that you are not eligible for getting superannuation fund as you are receiving through your salary. But i have not received the same through salary before 2007. ( On 2007 they forced me to sign ). Let me know the proceedure to proceed further?

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116 Manish Chauhan December 18, 2011 at 9:07 am

Shankar

What are your office people saying when you tell them that you were not getting it before 2007 ?

Manish

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117 Shri Niwas January 4, 2012 at 11:59 pm

I have retired from a MNC in Ghaziabad after serving 34 years.
My company provide super annuation to its employees, and I am elligible for the same and superannuation pension. I would like to know the calculation or formula to calculate monthly pension to plan tenure of the pension. How can I come to know ? please advise.

Shri Niwas

Reply

118 Manish Chauhan January 5, 2012 at 10:24 am

Shri

Planning for that will be little tricky .. I assume you are talking about the LIC super annuation form which you get .. you have to choose tenure and the option of getting the principle back or not in the end .. This info is not available like that … the choosing of the option should depend on few things like

- Do you want the principle amount at the end ? This if ticked YES will mean less pension each month
- Higher the tenure – lower the pension

Now combine these two things and decide which one you want

Manihs

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119 Hari January 11, 2012 at 1:23 am

Manish,

Thanks for sharing the valuable information. I was able to view the Super Annuation Scheme contributions made by me and my employer. I would like to add some more points.

1) This is not a mandatory scheme and hence purely at the discretion of the organisations to choose criteria for providing the super-annuation scheme for the employees.

2) There can be 2 parts -> Employee contribution & Employer contributions. Though the Employee contribution is absent in general, there might be cases where the organisation asks for contributions from employee as well.
For instance, our organisation contribuites equal amount of employee’s share to the Super Annuation Fund(capped at 10% of basic). While employee’s share and interest on it is fully available for annuity plans, the employer’s share may vary depending on the service contributed – ranging from 10% for less than 5 years to 100% for 9 years and above.

You need to know the following before going to the provider’s portal
a) Whether your company is providing Super Annuation benefit. If so, are you eligible for the Super Annuation in case of any criteria.
b) The reference id’s (such as LIC id and policy number) of the Super Annuation scheme.

Thanks,
Hari.

Reply

120 Manish Chauhan January 11, 2012 at 10:44 pm

Hari

Thanks for providing that additional information :)

Reply

121 darshan singh January 19, 2012 at 4:47 pm

Really very good piece of information to one and all. Keep it moving

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122 darshan singh January 19, 2012 at 4:51 pm

I m getting pension since may 2010 after opting for 1/3 withdrawl and 2/3 for pention. Can i modify it at this stage?

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123 Manish Chauhan January 20, 2012 at 11:01 am

Darshan

I dont think you can modify it

Manish

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124 SUBRAMANYA C P February 1, 2012 at 12:59 pm

I AM WORKING AS A PRODUCTION EXECUTIVE IN JK TYRE & INDUSTRIES LTD,MYSORE.
I WANT TO CHECK THE LIC SUPERANNUATION SCHEME STATUS ONLINE.
HOW TO CHECK.
LIC ID NO: 10833

Reply

125 Manish Chauhan February 2, 2012 at 3:17 pm

Its mentioned in the article

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126 pkmme February 10, 2012 at 1:20 pm

Hi Manish,

I resigned from my company after 2.2 yrs of service. Shall i get any amount accumulated in my superannuation account? I was told that we need to complete 3 yrs to get any amount from the superannuation.

Cheers.

Reply

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