How To Withdraw Money From A Pension Fund

Table of contents:

How To Withdraw Money From A Pension Fund
How To Withdraw Money From A Pension Fund

Video: How To Withdraw Money From A Pension Fund

Video: How To Withdraw Money From A Pension Fund
Video: 🔴Pension Withdrawal Process | Employee pension scheme 1995 की इन बातों का ध्यान रखें 2024, December
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A part of each citizen's salary is deducted to the Pension Fund, where it is kept until the employee reaches retirement age. However, under certain circumstances, this money can be collected.

How to withdraw money from a pension fund
How to withdraw money from a pension fund

It is necessary

  • - foreign citizenship;
  • - documents confirming disability;
  • - documents confirming large families.

Instructions

Step 1

In order to withdraw money from the Pension Fund, you must have a good reason to do so. The Pension Fund is not a deposit account where you can deposit or withdraw money at any time. Funds in the Pension Fund are purposefully accumulated until a person reaches retirement age.

Step 2

The law provides for the possibility of receiving pension funds as a lump sum in cases where a citizen moves to a permanent place of residence abroad or if a person's health condition is assessed as critical and he needs money for an operation.

Step 3

If you are moving to a permanent place of residence in another state, then, in order to collect money from the Pension Fund, first live in the new place for as many years as it takes to obtain a new citizenship. Previously, in order to receive money, it was enough to provide documents confirming travel abroad, however, due to frequent cases of violation of the law, new instructions came into force.

Step 4

After obtaining citizenship, confirm this with the local pension fund - go back to the country for a while and show your passport with the new citizenship. If this is not possible, submit to the Pension Fund a certificate confirming the new citizenship through an authorized person, or send it by mail.

Step 5

If you are not going to move for permanent residence abroad, but you are disabled of the first or second group, you can also receive money from the Pension Fund ahead of schedule. To do this, contact the Pension Fund with a document confirming your disability and declare your intention to withdraw the money. Complete all the documents that are asked of you, and you will receive the money.

Step 6

Mothers who are raising more than five children under the age of eight can also take money early from the PF. If you belong to this category of persons - contact the Pension Fund and present your passport and birth certificates of your children.

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