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, Works at Life Insurance Corporation of India. Vested Bonus is the bonus which is already accumulated in you policy at the end of particular financial year. Every year LIC declares bonus in its Participating/with profit policies according to valuation of actuarial department of LIC.
Vesting refers to ownership. Another way of looking at it is, if you have $10,000 in your retirement plan and you are 30% vested, you own $3,000. Your vested portion can never be reduced. If you leave your employer, the vested portion of your account can go with you or (in some cases) you can cash it out.