EPFO circular soon on allowing online, offline options to submit pleas for higher pension
The Employees’ Provident Fund Organisation is likely to publish a circular soon on the procedures for exercising option for higher pension as part of implementing the November 4 judgment of the Supreme Court on the matter. The Supreme Court had given four months’ time, which ends on March 4, 2023, to eligible employees to submit options for higher pension based on salaries above the threshold limit of ₹15,000. Verification process Pensioners’ organisations had alleged that the EPFO’s decision to recover higher pension from those employees who had retired before September 1, 2014 and not submitted joint option under paragraph 11 of the Employees’ Pension Scheme will impact thousands of pensioners. “Our assessment is that the recovery proceedings could be initiated against some pensioners who may have erroneously drawn higher pension without submitting joint option for higher pension based on higher salary. A window in the EPFO was also opened for those retirees to submit applications for validation of joint options, if they had exercised option but the same were rejected or if they have paid premium for higher pension based on higher salary which was refunded.
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