Is it possible to opt out of LIC Superannuation?

Q & A Forum › Category: Investments › Is it possible to opt out of LIC Superannuation?

Thothathiri asked 7 years ago

Hi Sreekanth, Am voluntary opted for LIC Group Superannuation in my company. Is it possible to opt out? Why because, want to put that money in NPS or increase my PF contribution, which will give better return than LIC Superannuation. Thanks for your time. Regards Thothathiri S

3 Answers

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Sreekanth Staff answered 7 years ago

Dear Thothathiri, I am not very sure on this! However, you can withdraw the super annuation fund on job change (subject to taxation rules). You can also withdraw the fund after 3 years of service period. Suggest you to kindly check with your employer on this. (If you get any reliable information from your employer, kindly share it here, can be useful to all of us).

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Thothathiri answered 7 years ago

Hi Sreekanth, I checked with my organization, its not possible to opt out. Regards Thothathiri S

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Sreekanth Staff answered 7 years ago

Dear Thothathiri .. Thank you for sharing the update/info!