Merging a previous service period(s) with a current service period increases the insurance benefit an insured individual will receive - e.g. end-of-service benefit or the monthly retirement pension.
It is always advisable to add the previous service period when starting a new job, as the cost to merge service is calculated on the basis of an insured individual’s contribution salary at the time the request is placed, and over time, it is likely that an individual’s contribution salary will increase, which will in-turn increase the cost to merge a service period(s).
Question
Is it advisable to merge a service period in all cases? Additionally, is it better to merge a service period after working for a while or when starting a new job immediately and why?
Service Type