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HIGHER PENSION OPTION FORM (As per Para11(3) of the Employees Pension Scheme, 1995) (Only for existing employees who have been contributing on higher wages to EPS on salary exceeding 6500/ or 15,000/

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How to fill out higher pension option form

01

Start by obtaining a copy of the higher pension option form from your pension provider.

02

Read the form carefully and make sure you understand all the instructions and requirements.

03

Fill in your personal details such as your name, address, date of birth, and social security number.

04

Provide information about your current pension plan, including the name of your employer and the duration of your employment.

05

Decide which higher pension option you want to choose and indicate your preference on the form.

06

If necessary, consult with a financial advisor or pension specialist to determine the best option for your individual circumstances.

07

Review the completed form to ensure all the information is accurate and complete.

08

Sign and date the form to certify that the provided information is correct to the best of your knowledge.

09

Submit the form to your pension provider by mail or through their online portal, depending on their preferred method of submission.

10

Keep a copy of the filled-out form for your own records.

Who needs higher pension option form?

01

Anyone who is eligible for a pension and wants to explore the option of receiving a higher pension amount should consider filling out the higher pension option form.

02

This form is particularly relevant for individuals who have the flexibility to choose from different pension options offered by their pension provider.

03

By filling out this form, individuals can actively participate in the decision-making process and potentially increase their pension benefits in the future.

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What is higher pension option form?

Higher pension option form is a form that allows pensioners to choose a higher monthly pension payment in exchange for a lower payment to a beneficiary after their death.

Who is required to file higher pension option form?

Pensioners who wish to increase their monthly pension payment by opting for a higher pension option are required to file the form.

How to fill out higher pension option form?

To fill out the higher pension option form, pensioners need to provide their personal information, select the desired option, and sign the form.

What is the purpose of higher pension option form?

The purpose of the higher pension option form is to allow pensioners to choose a higher monthly pension payment in exchange for a lower payment to a beneficiary after their death.

What information must be reported on higher pension option form?

The higher pension option form must include the pensioner's personal information, the selected pension option, and the signature of the pensioner.

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