Superannuation

POSTED BY Ganesh Bhat ON July 19, 2013 1:41 pm ONE COMMENT

Dear Sir,
I retired from services on 31st May, 2012 and subsequently the papers were submitted to LIC through the company. It has taken more than one year and recently I recieved the communication regarding the pension which says that the pension will start from 1st June, 2013 i.e exactly after 1 year and they say that interest is added to the capital based on which pension is calculated. Is there something called waiting period of one year? The interest for one year is practically insignificant compared to the pension amount for 1 year.

One reply on this article “Superannuation”

  1. Mohit Pandey says:

    Dear Ganesh,

    There is no waiting period, since they delayed the process they have added the interest on the principle amount and recalculated the pension, I think your new pension amount should be more than the previously communicated pension amount.

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