New pension rules from 2025: Now collect EPS anywhere in India
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6 days, 23 hours ago

New pension rules from 2025: Now collect EPS anywhere in India

India Today  

Starting January 1, 2025, pensioners under the Employees’ Pension Scheme, 1995, will experience a major shift in how they receive their monthly pension. Thanks to the introduction of the Centralized Pension Payment System, pensioners will now be able to collect their pension from any bank branch across India, even if they move to a different city or town. It represents a national-level solution that leverages advanced IT and financial technology to make pension payments faster and more accessible to pensioners across India. This is a significant step forward in modernising the pension disbursement process and will benefit over 78 lakh EPS pensioners. As the CPPS rolls out, EPS pensioners can look forward to a more seamless and hassle-free experience, marking the beginning of a new chapter in pension disbursement across India.

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EPS rule tweak: Starting today, pensioners can withdraw pension from any bank branch across India. Check latest norms
1 week ago

EPS rule tweak: Starting today, pensioners can withdraw pension from any bank branch across India. Check latest norms

Live Mint  

Employees’ Pension Scheme subscribers can access pension from any bank branch in India from today, January 1, 2025. This is the outcome of the introduction of the Centralised Pension Payments System, and the rollout is expected to benefit 78 lakh EPS pensioners. Additionally, pensioners would not need to visit the branch for any verification at the time of commencement, and …

Trial run of centralised PF pension system is successful, says Centre
2 months ago

Trial run of centralised PF pension system is successful, says Centre

The Hindu  

The pilot run of the proposed Centralised Pension Payments System under the employees’ pension scheme of the Employees Provident Fund Organisation is successful, the Union Labour Ministry said on Friday, November 8, 2024. The new system, to be implemented nationwide by January 2025, will help more than 78 lakh EPS pensioners to receive their pension from any bank, any branch, …

What are the issues faced by EPFO pensioners?
3 months, 3 weeks ago

What are the issues faced by EPFO pensioners?

The Hindu  

The story so far: Nearly 78 lakh Provident Fund pensioners across the country under the Employees’ Pension Scheme, 1995 of the Employees’ Provident Fund Organisation will receive their pension through any bank, any branch from January 1, 2025. The Union Labour Ministry cleared the proposal earlier this month for a Centralised Pension Payment System as part of the EPFO’s ongoing …

EPFO pensioners to get payments from any bank, branch
4 months ago

EPFO pensioners to get payments from any bank, branch

The Hindu  

The Union Labour Ministry has cleared a proposal for Centralised Pension Payment System for about 78 lakh pensioners under the Employees’ Pension Scheme, 1995. Union Minister of Labour and Employment and Chairperson, Central Board of Trustees, Employees Provident Fund Organisation, Mansukh Mandaviya, said the approval of the CPPS marks a significant milestone in modernisation of the EPFO. “By enabling pensioners …

Centralised Pension Withdrawals Nationwide From Jan: Mandaviya
4 months ago

Centralised Pension Withdrawals Nationwide From Jan: Mandaviya

Deccan Chronicle  

New Delhi: Pensioners under Employees' Pension Scheme 1995 run by retirement fund body EPFO will be able to get a pension from any bank or branch across India from January, Labour Minister Mansukh Mandaviya said on Wednesday. Mandaviya, who is also the chairperson of EPFO's apex decision-making body Central Board of Trustees, has approved the proposal for a Centralized Pension …

EPS subscribers with multiple accounts: Know the latest rules here
11 months, 1 week ago

EPS subscribers with multiple accounts: Know the latest rules here

Live Mint  

The EPFO has recently issued a circular with regards to regulating EPS entitlement of members having multiple accounts. The circular states that whenever an EPS member possesses multiple account numbers for a number of employment, these are the rules which will come into force: 1. Aggregate pension: Pension payable from all establishments will be aggregated provided that aggregate of pensionable …

Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO
1 year, 7 months ago

Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO

Hindustan Times  

The joint applications for higher pensions under the Employees' Pension Scheme will have to be scrutinised within 20 days of receipt, the Employees' Provident Fund Organisation has directed its field officers. “Hence, it is reiterated that each Applications for Validation of Joint Option/Joint Option shall be scrutinized expeditiously and it shall be ensured that Demand Letter to Employer/Communication to Employer …

Pension Rule BIG Change: You will Receive Pension by this Date From Now, Details Here
2 years, 11 months ago

Pension Rule BIG Change: You will Receive Pension by this Date From Now, Details Here

News 18  

EPS Pension Disbursal Rule Change: The Employees Provident Fund Organisation, or EPFO, has taken note of the adversities faced by pensioners who have claimed that their pension does not reach them on time. The EPFO, in a circular dated January 13 this year, has said that the pension amount must be credited to the EPS 95 pensioners’ accounts within the …

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