EPFO: Account holder can take benefit of pre-pension, know this
A variety of facilities are provided by the Employees' Provident Fund Organization (EPFO) to its members. Account holders of the Employees Provident Fund Organization can also get pre-pension through this. Today we are going to give you information in this regard. Today we are going to tell you how pre-pension can be obtained.
If a person leaves the job after completing ten years of membership of EPAO and does not take up employment in any institution where the EPF Act is applicable, he can avail the benefit of pre-pension after completing fifty years of age. At the same time, he has the option to wait till the age of 58 years to get a full pension. Under pre-pension, the pension will be reduced by 4 percent for every year less than the age of 58 years.
Under this, if someone is entitled to get a pension of Rs 10,000 at the age of 58 years, then at the age of 57 years he will be given a pension of Rs 9,600 by reducing the rate by 4 percent.
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