If you are taking pension from the government or you have taken an insurance policy from Life Insurance Corporation of India (LIC), then this news is of your use. Government pensioners will have to submit their life certificate by February 28 (Last date for submission of life certificate). At the same time, the last date for PAN update for LIC policy holders is February 28.
Updating PAN is mandatory for the LIC insured who wants to invest money in LIC’s IPOs. Whoever does not do this, he will not get reservation in the IPO. 31 crore 62 lakh 49 thousand 885 shares will be sold in LIC’s IPO. Of these, 10% i.e. 3.16 crore shares will be reserved for those people who have LIC policy.
Pensioners have to submit life certificate every year to continue their pension. Otherwise, their pension is not deposited in the bank account. Earlier the date of submission of Life Certificate was 30 November 2021, which was extended to 31 December 2021. It was once again increased to 28 February 2022.
Life certificate can be submitted both online or offline. Life certificate is the proof of the pensioner being alive. It is necessary to deposit it for continuation of pension. Life certificate has to be submitted in the bank, post office or other financial institution where the pension comes.
LIC policy must be linked with PAN
The IPO of Life Insurance Corporation of India (LIC) may come in March this year. In such a situation, if you have taken a policy of LIC and you want to participate in its IPO, then you have to update or link your PAN in LIC by 28 February. It is necessary to link PAN with the policy for investing in IPO. Therefore, you should check the policy holder whether the information of PAN given in the record is correct or not. If it is not correct, then update the PAN information.