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Mandate Form For Payment of Pension Annuity - LIC

This document contains a mandate from an individual to the LIC of India for payment of pension or annuity. Key details include: 1) The individual is selecting a pension for life with a 3% annual increase. 2) They provide their bank account details for direct deposit of annuity payments. 3) They nominate beneficiaries to receive pension proceeds in the event of their death. 4) An HR officer verifies the nomination details on file. 5) The individual acknowledges advance receipt of pension corpus payment from LIC of India.

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828 views

Mandate Form For Payment of Pension Annuity - LIC

This document contains a mandate from an individual to the LIC of India for payment of pension or annuity. Key details include: 1) The individual is selecting a pension for life with a 3% annual increase. 2) They provide their bank account details for direct deposit of annuity payments. 3) They nominate beneficiaries to receive pension proceeds in the event of their death. 4) An HR officer verifies the nomination details on file. 5) The individual acknowledges advance receipt of pension corpus payment from LIC of India.

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Desikan
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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P&GS UNIT, DIVISION-1, JEEVAN PRAKASH,

IV FLOOR, J.C. ROAD, BANGALORE -560 002


EMAIL : bo_g501@licindia.com. 22234911

Mandate for payment of Pension / Annuity


1) I, Shri/Smt._______________________________________ ____________________
opt for the following:
I) PAYMENT OF PENSION
____________________________________________________
(Mention one of the following types of Pension)
a) Pension for life with return of Corpus
b) Pension for life (without return of Corpus)
c) Pension guaranteed for
i) 5 years and life thereafter
ii) 10 years and life thereafter
iii) 15 years and life thereafter
iv) 20 years and life thereafter
d) Joint Pension with 50% pension to Spouse
e) Joint Pension with 100% pension to spouse
f) Joint Pension with 100% pension to spouse & Return of Corpus
g) Pension with fixed increase every year @ 3%.
(Notes: (1) In case of Joint Pension Options (d) to (f), please give the Date of Birth
of Spouse)
Name of the Spouse: Date of Birth:
(2) In case the ex-executive is no more, the Spouse will have to choose
between options (a), (b), (c) or (g) only.

II) PAYMENT OF ANNUITY


Monthly OR Quarterly OR Half-yearly OR Yearly
2) Bank Details
I request you to credit the Annuity payments directly to my Bank Account as per the
details given below:
Account Number.____________________________________________
MICR Number______________________________________________
IFSC CODE ________________________________________________
Name of the Bank____________________________________________
Address of the Bank__________________________________________
PAN NO___________________________________________________

(Enclose a photocopy of PAN CARD & cheque leaf for the NEFT facility).

(Signature of the Annuitant/ Member/ Beneficiary)


3) NOMINATION

I hereby declare that in the event of my death, the Benefits under the Scheme payable may be
paid to the following Nominees(s) in proportion as indicated against their respective names:

Sl. Name in full with Relationship Date of Address in Full Proportion in


No. complete address with the Birth which Pension
of the Nominee(s) Member will be shared by
each Nominee
1.

2.

3.

Witness

Address

Place

Date

4) Verification by HR

The nomination details furnished by the Beneficiary have been verified with the records
available with this Office.

(Signature of the HR Officer)

Name:

Designation:

Division/ Office:

Date:
ADVANCE RECEIPT FOR DISCHARGE OF THE PENSION CORPUS AMOUNT
(To be completed by the annuitant and witnessed by the Trustees)

I, Shri/Smt._____________________________________________ do hereby acknowledge receipt from the Life


Insurance Corporation of India, the sum of Rs._*___________(Rupees_*________________________________
___________________________________) in full satisfaction and discharge of my under mentioned claims and
demand under the Master Policy No NGSCA / 501001382.

___________________________*Installments of pension @ Rs.________________________________*

due from ____________________to__________________* Rs.________________________________ *

Total Rs._________________________________*

(Signature of the Annuitant


on Revenue Stamp
of Rs 1/-, if available)

Witness Signature MY ADDRESS


(Trustee)
HAL, Corporate Office
15/1, Cubbon Road
Bangalore – 560 001

Place
Date

Specimen Signatures 1.
of Annuitant
2.

* Will be filled in by M/s LIC of India

Note: This Advance Receipt is taken to authorize LIC to discharge the payment of Pension from the
accumulated Corpus, as per the option exercised by the member as at Sl. No. (1) above.

Annuitant means the Member/ Beneficiary.

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