L.I.C. Of India — Monthly pension against Superannuation fund
M.M.C.Verma on Jul 15, 2011
Ref: Annuity A/c No.011M[protected] (LIC of India, New Delhi)
I was retired on 31.08.2005 under C.R.S. from the service of the company. I had received 1/3 amount against deposited in my superannuation fund as on 31.08.09, Further I am getting monthly pension of Rs.836/- only against balance amount deposited in my superannuation fund A/c of Rs.174446/- since Sept'2005, which is equivalent to 5.75% per year interest. I can't understand this lower rate of interest as compared to Bank FDR interest rate is 9.50% per year and Provident Fund interest rate is also 9.50% per year.
Further, I would like to withdraw the balance amount deposited in my superannuation fund account of Rs.174446/- instead of monthly pension, please let me know the procedure to withdraw the balance amount deposited in my superannuation fund with LIC of India.
Please reply and help me at the earliest.
M C Verma
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