Withdrawal benefits

BENEFITS

All the benefits from contributions by a member vest in a member immediately and the retirement benefits accrued from membership shall fully vest in a member within one year of joining membership of the Scheme.


CIRCUMSTANCES UNDER  WHICH RETIREMENT BENEFITS ARE PAYABLE

(i) on or after attaining the Normal   Retirement Date; currently age 60 years

(ii) On or after attaining age 50 with the consent of the Founder.

(iii) On medical evidence to the satisfaction of the Scheme Trustees and the Founder that the member is incapable by reason of any infirmity of mind or body of dischargin the duties of his office and that the infirmity is likely to be permanent.

WITHDRAWAL BENEFITS

A member who leaves service before attaining 50 years of age may opt for:-

→Payment of upto 100% of employee contribution and upto 50% of employer balance. The balance being (50%) of employer portion, shall be deferred and shall continue to accrue investment income until a member attains retirement age.