Can Superannuation fund be transferred to new organisation

POSTED BY M B ON October 10, 2012 10:07 am COMMENTS (4)

Dear Manish,

I have recently left the job from my four & half year old employer & joined another company. I was able to get the transfer of my SAF from my past company (where I worked for 2 years) to my previous comapny. Now the total SAF is approx 6 lacs. I want to get this amount transferred to my new company but they are denying it & advising me to apply for the withdrawl. I have two questions :

1. Is there any new mendate which disallows the transfer of Superannuation fund to new organisation?

2. In case I go for withdrawl, will I get full amount or they will pay me in form of pension. What about income tax applicability on SAF.

Thanks

MB

4 replies on this article “Can Superannuation fund be transferred to new organisation”

  1. Transfer of SUper annuation from one company to another company is very much unheard of . I am not saying that its not rule , but have to dig deep on this . I had seen some links on this topic earlier ! .

    1. M B says:

      Thanks Manish, last time I could got it transferred. It was from LIC. Now its HDFC to my new organisation where it is LIC. I am still trying my luck. Will keep you posted. Thanks again for your reply.

      Regard

      1. Can you share some link or document which talks about the rules etc ?

        1. M B says:

          Sorry Manish, I don’t have any detail but will share with you whenever I get something. I am checking with my network.

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