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 the pension would be immediately credited upon release. “By enabling pensioners to receive their pensions from any bank, any branch, anywhere in the country, this initiative addresses the long-standing challenges faced by pensioners and ensures a seamless and efficient disbursement mechanism.

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History of this topic

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

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?
3 weeks, 2 days ago

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?

India Today  

Over 1.7 million Employees' Provident Fund Organisation members have opted for higher pensions under the Employees’ Pension Scheme, following the Supreme Court’s landmark ruling in November 2022. This ruling has brought significant relief for eligible employees, allowing them to contribute to the scheme based on their actual basic salaries instead of the fixed threshold of Rs 15,000 per month. Under …

Labour Ministry to launch centralised EPFO pension payments nationwide by 2025
Trending News
1 month, 4 weeks ago

Labour Ministry to launch centralised EPFO pension payments nationwide by 2025

India Today  

Starting in 2025, the Labour Ministry will transition to a centralised pension payment system, allowing retirees to receive their monthly pensions from any bank branch, anywhere in the country. Labour Minister Mansukh Mandaviya says the new platform, designed for subscribers of the Employees’ Provident Fund Organisation —the state-run retirement fund—aims to streamline the process by reducing paperwork and enabling faster …

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 rule for calculating lump sum withdrawal amount on early exit changed
6 months, 3 weeks ago

EPS rule for calculating lump sum withdrawal amount on early exit changed

Hindustan Times  

The Ministry of Labour and Employment issued two notifications amending the rules under the Employees' Pension Scheme, with one of the notifications dealing with the lumpsum payment from the EPS scheme when a member quits before completion of 10 years, the Economic Times wrote. Lumpsum withdrawal The notification has revised 'Table D' which is used to calculate the lumpsum payment …

Pension concerns: On the EPFO recommendation
10 months, 3 weeks ago

Pension concerns: On the EPFO recommendation

The Hindu  

The recommendation of the Central Board of Trustees of the Employees’ Provident Fund Organisation for a 0.1-percentage-point increase in provident fund deposits for 2023-24 should not be surprising, as it is in tune with what the EPFO did last year. Months ago, the Finance Ministry had rejected a proposal to double the minimum pension amount, citing a “huge rise” in …

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 …

Deadline for Higher EPS pension on June 26. Here's how to calculate the amount
1 year, 6 months ago

Deadline for Higher EPS pension on June 26. Here's how to calculate the amount

Hindustan Times  

Around 10 days remain for those who wish to participate in the Employees' Pension Scheme's Higher Pension Scheme, which permits eligible individuals to earn a higher pension amount depending on specified conditions. Calculation of Higher Pension for pre-September 2014 retirees: To determine the pension amount, the average monthly pay earned during the contributory period of service in the 12 months …

EPFO eases higher pension rules: Formula for calculation, list of documents
1 year, 6 months ago

EPFO eases higher pension rules: Formula for calculation, list of documents

Live Mint  

Only twelve days window left for employees to apply for higher EPS pension. Formula for calculating higher pension for those who retired prior to 1 September 2014 The pension shall be calculated based on the average monthly pay drawn during the contributory period of service in the span of 12 months preceding the date of exit from the membership of …

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 …

Give an opportunity to pre-2014 retirees to avail of higher PF pensions: Kerala MP
1 year, 8 months ago

Give an opportunity to pre-2014 retirees to avail of higher PF pensions: Kerala MP

The Hindu  

The demand to provide an opportunity to those pensioners who came under the Employees’ Pension Scheme of the Employees’ Provident Fund Organisation and retired prior to September 1, 2014, without exercising the joint option to avail themselves of higher PF pensions, has been renewed by John Brittas, Member of Parliament from Kerala. In a seven-page letter sent to the Union …

EPFO extends deadline to apply for higher pension till June 26
1 year, 8 months ago

EPFO extends deadline to apply for higher pension till June 26

Live Mint  

Retirement fund body EPFO on Tuesday extended the deadline to apply for higher pension till June 26. EPFO has made arrangements for obtaining applications for the validation of option / joint option from pensioners / members as per the Hon’ble Supreme Court order dated 4 November 2022. Earlier, the Supreme Court in its order on November 4, 2022 had mandated …

Higher pension from EPF: Will EPFO extend the deadline?
1 year, 8 months ago

Higher pension from EPF: Will EPFO extend the deadline?

Live Mint  

With less than 2 days left for individuals to apply for higher pensions under the Employees' Pension Scheme, the question is: Will EPFO extend the deadline? The EPFO issued a circular on 23 April in which it stated that applications and joint options for higher pension will be examined by the field office. Now, on demand of the employees’/employers’ associations …

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details
1 year, 8 months ago

As EPFO higher pension scheme deadline arrives, check eligibility, interest rate and other details

Hindustan Times  

The Employees’ Provident Fund Organisation has set May 3 as the last date to submit an application for higher pension under the Employees' Pension Scheme. Employees who became members before 1 September 2014 and continue to be one can apply for higher pension. Documents to submit Employees should share an agreement to allow the transfer of funds from the provident …

Higher pension from EPFO: Deadline, Eligibility, interest rate and other details
1 year, 8 months ago

Higher pension from EPFO: Deadline, Eligibility, interest rate and other details

Live Mint  

With just less than a week left for individuals to apply for higher pensions under the Employees' Pension Scheme, the Employees’ Provident Fund Organisation has issued new details for scrutiny of information and wage details submitted by the employee and employer for higher pension. Confusion over EPFO note on higher pension As per Amit Gupta, MD, SAG Infotech, EPFO in …

More than one lakh people opted for higher PF pension, Centre tells Rajya Sabha
1 year, 9 months ago

More than one lakh people opted for higher PF pension, Centre tells Rajya Sabha

The Hindu  

The Centre on Thursday informed Rajya Sabha that 1,20,279 employees have submitted joint options at the Employees’ Provident Fund Organisation portal for higher pension. Answering a question from Communist Party of India MP John Brittas, Minister of State in Union Labour Ministry Rameswar Teli said the total number of beneficiaries of the Supreme Court judgement on higher PF pension will …

All you need to know about EPF higher pension scheme
1 year, 10 months ago

All you need to know about EPF higher pension scheme

Hindustan Times  

The Employees Provident Fund Organisation has issued new guidelines under which subscribers and employers can jointly apply for a higher pension under the Employees' Pension Scheme. How to apply for a higher pension on the EPF portal: - Visit EPFO Unified Member portal - Select "Pension on higher salary: Exercise of joint option on or before May 3, 2023" - …

Higher EPFO pension: Why you should avoid going for it
1 year, 10 months ago

Higher EPFO pension: Why you should avoid going for it

Live Mint  

In accordance with the Supreme Court's directive, the Employees Provident Fund Organization has extended the deadline for applications for higher pensions by 60 days. Amit Gupta, MD, SAG Infotech said to provide a larger pension after retirement, a portion of an EPFO member's EPF corpus will be moved to the EPS scheme from the date of joining if the person …

EPFO sets May 3 as deadline for subscribers to opt for higher pension
1 year, 10 months ago

EPFO sets May 3 as deadline for subscribers to opt for higher pension

India TV News  

The Employees' Provident Fund Organisation on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The deadline accordingly should have been around March 3, 2023, but EPFO only last week came out with the procedure for opting for higher pension under the Employees' Pension Scheme. Last week, EPFO came out with a procedure to …

EPFO sets May 3 as deadline for subscribers to opt for higher pension
1 year, 10 months ago

EPFO sets May 3 as deadline for subscribers to opt for higher pension

Deccan Chronicle  

New Delhi: The Employees' Provident Fund Organisation on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per …

EPFO sets deadline for subscribers to opt for higher pension set as May 3
1 year, 10 months ago

EPFO sets deadline for subscribers to opt for higher pension set as May 3

Hindustan Times  

The Employees' Provident Fund Organisation on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2024, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of …

Higher pension | Eligible EPFO members can apply till May 3
1 year, 10 months ago

Higher pension | Eligible EPFO members can apply till May 3

The Hindu  

All eligible members can opt and apply jointly with their employers for higher pension till May 3, 2023 at unified members' portal of retirement fund body EPFO. EPFO issues guidelines for employees, pensioners to opt for higher pension In an office order, EPFO had provided for dealing with the ''Joint Option Form'' by field offices of the body. EPFO has …

EPS Pension: Know How to check Membership Status To Receive Higher Pension
1 year, 10 months ago

EPS Pension: Know How to check Membership Status To Receive Higher Pension

ABP News  

If you are an employee working before 2014 and not aware if you are eligible to opt for a higher pension from the Employees' Pension Scheme, then you can check the status on the EPFO website. A Supreme Court order clarified that if an individual was a member of the EPS on September 1, 2014, then he/she can opt for …

EPFO Update: Know How To Get Higher Pension Under EPS. Check Guidelines & Eligibility Here
1 year, 10 months ago

EPFO Update: Know How To Get Higher Pension Under EPS. Check Guidelines & Eligibility Here

ABP News  

EPFO Update : Employees Provident Fund Organisation has opened a new window for subscribers who couldn’t opt for higher pensions earlier through guidelines issued on Monday. EPFO Update : Check the guidelines to be followed for applying for a higher pension The request will be made in such form and manner, as may be decided by the Regional Provident Fund …

EPFO issues guidelines to let subscribers opt for higher pension. Check details
1 year, 10 months ago

EPFO issues guidelines to let subscribers opt for higher pension. Check details

Hindustan Times  

The Employees Provident Fund Organisation has introduced new guidelines, under which subscribers and employers can jointly apply for higher pension under Employees' Pension Scheme. According to HT's sister website Mint, EPFO has now allowed subscribers to go beyond the pensionable salary, capped at ₹15,000 per month. The same amendment also allowed members and their employers to jointly contribute 8.33% of …

Latest EPFO circular raises further concerns
1 year, 10 months ago

Latest EPFO circular raises further concerns

The Hindu  

The Employees’ Provident Fund Organisation’s February 20, 2023 circular, laying down the broad contours of eligibility for those members of the Employees’ Pension Scheme who were in service as on September 1, 2014 for seeking higher pension, has raised further concerns from activists. Namazi, former Chief Law Officer of the Karnataka State Road Transport Corporation and now the general secretary …

EPFO issues guidelines for employees, pensioners to opt for higher pension
1 year, 10 months ago

EPFO issues guidelines for employees, pensioners to opt for higher pension

The Hindu  

After days of discussions, the Employees’ Provident Fund Organisation has issued a circular on Monday to its regional offices with a set of instructions to implement the November 4 judgment of the Supreme Court on higher provident fund pension. Employees can submit the joint option with the employers using the members’ section of the EPFO website, which will be made …

EPFO gives last chance to opt for higher EPS pension: Latest guidelines
1 year, 10 months ago

EPFO gives last chance to opt for higher EPS pension: Latest guidelines

Live Mint  

Are you a member of Employees' Pension Scheme prior to 31 August, 2014 and continue to be the same? EPFO's new procedure will enable subscribers and their employers to jointly apply for higher pension under Employees' Pension Scheme. EPFO has asked its field offices to provide an option for higher pension to eligible subscribers in accordance with the Supreme Court …

EPFO Unveils Procedure To Apply For Higher Pension Under Employees Pension Scheme
1 year, 10 months ago

EPFO Unveils Procedure To Apply For Higher Pension Under Employees Pension Scheme

ABP News  

Retirement fund body EPFO on Monday came out with a procedure to enable subscribers and their employers to jointly apply for higher pension under Employees' Pension Scheme. EPFO has asked its field offices to provide an option for higher pension to eligible subscribers in accordance with the Supreme Court order. The apex court in its order gave four more months …

Update For PF Subscribers: Now Apply For Higher Pension Under EPS; Know What Is Joint Option
1 year, 10 months ago

Update For PF Subscribers: Now Apply For Higher Pension Under EPS; Know What Is Joint Option

News 18  

Retirement fund body Employees’ Provident Fund Organisation on Monday came out with a procedure to enable subscribers and their employers to jointly apply for higher pension under Employees’ Pension Scheme. The office in-charge of the concerned regional provident fund office shall examine each case of joint option on higher salary and intimate the decision to the applicant through e-mail/post and …

The pension conundrum: On the EPFO resource base
1 year, 10 months ago

The pension conundrum: On the EPFO resource base

The Hindu  

Union Minister for Labour and Employment Bhupender Yadav seems to have little to say on the issue of the Employees’ Provident Fund Organisation allowing sections of subscribers and pensioners to opt for higher pension under the Employees’ Pension Scheme, 1995. The issue of allowing higher pension — pension proposed in the event of employers making 12% mandatory PF contributions on …

EPFO circular soon on allowing online, offline options to submit pleas for higher pension
1 year, 11 months ago

EPFO circular soon on allowing online, offline options to submit pleas for higher pension

The Hindu  

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 …

EPFO circular leaves a big chunk of EPS pensioners in the dark about revised scheme
2 years ago

EPFO circular leaves a big chunk of EPS pensioners in the dark about revised scheme

The Hindu  

The Employees Provident Fund Organisation ’s latest circular, providing an opportunity to a section of pensioners to apply for higher pensions, is silent about those who could not exercise the option for enhanced pension due to the authorities’ interpretation of the cut-off date. Gupta case of 2016, the apex court stated two months ago that “all the employees who did …

These pensioners can now submit life certificate at any time. Check details
2 years, 1 month ago

These pensioners can now submit life certificate at any time. Check details

Live Mint  

The deadline for submitting the life certificate for pensioners is end of this month, i.e. As per a tweet on EPFO's official Twitter account, “EPS’95 Pensioners can now submit Life Certificate at any time which will be valid for 1 year from date of submission.” According to the tweet, pensioners under EPS’ 95 need can submit life certificate at any …

How the Supreme Court ruling affects your pension payouts
2 years, 1 month ago

How the Supreme Court ruling affects your pension payouts

The Hindu  

Successive governments in India have been trying to wean workers away from defined benefit pension plans, to market-linked ones. Once you join EPF, your employer deducts 12% of your basic pay every month towards the fund, while making a matching contribution. While your 12% contribution goes entirely into your EPF account, 8.33% of your employer’s contribution goes into the EPS, …

All employees can opt for EPFO pension scheme: Supreme Court
2 years, 2 months ago

All employees can opt for EPFO pension scheme: Supreme Court

The Hindu  

The Supreme Court on Friday upheld the Employees’ Pension Scheme, 2014 of the Employees’ Provident Fund Organistion as “legal and valid” while reading down certain provisions. The court struck down a requirement in the 2014 amendments that employees who go beyond the salary threshold should contribute monthly to the pension scheme at the rate of 1.16% of their salary. The …

Employees of private company may get pension after retirement | Checks EPFO norms
2 years, 2 months ago

Employees of private company may get pension after retirement | Checks EPFO norms

India TV News  

A pension after retirement gives great relief to elders. Employee’s Provident Fund Organization made provision of pension for private organization's employees under EPS. This scheme is for the pension of the employees working in the organized sector, after their retirement at 58 years. EPS pension was made available from 1995 and later retained for existing and newly joined EPF employees …

After death of EPS pensioner, family members eligible for pension, benefits. Details here
2 years, 4 months ago

After death of EPS pensioner, family members eligible for pension, benefits. Details here

Hindustan Times  

The Employees' Pension Scheme came into effect from November 19, 1995, and all employees who qualify for the Employees' Provident Fund scheme, also become eligible for EPS enrollment so that they receive their pension after they reach the age of fifty-eight. EPS offers monthly benefits to beneficiaries after they retire or superannuate; these benefits can also be availed by family …

EPFO: Pensioners can submit their life certificate online anytime of the year
2 years, 4 months ago

EPFO: Pensioners can submit their life certificate online anytime of the year

Live Mint  

Retirement fund body Employees' Provident Fund Organisation has announced that Pensioners under the can submit their life certificates online at anytime of the year. In a tweet, the EPFO said,"EPS’95 Pensioners can now submit Life Certificate at any time which will be valid for 1 year from date of submission." The Employees’ Provident Fund Organization has facilitated multiple options for …

Subscribers say there is surplus money in EPS
2 years, 5 months ago

Subscribers say there is surplus money in EPS

The Hindu  

Employees and pensioners in the Supreme Court on Thursday tore into the controversial amendments on “determination of pensionable salary” introduced into the Employees Pension Scheme of 1995. Lalit, senior advocate Jayant Muth Raj, appearing for employees of Kerala district cooperatives, trashed the claims made by the Centre and the Employees Provident Funds Organisation in court that the EPS-1995 was facing …

EPF Pension Case : Provident Fund Members Don't Automatically Become Eligible Under EPS, EPFO Tells Supreme Court
2 years, 5 months ago

EPF Pension Case : Provident Fund Members Don't Automatically Become Eligible Under EPS, EPFO Tells Supreme Court

Live Law  

The Employees Provident Fund Organisation on Tuesday told the Supreme Court of India the structure of Employee Provident Fund Scheme and Employee Pension Scheme is entirely different.EPFO, appearing through Senior Advocate Aryama Sundaram made the submission before Justices UU Lalit, Aniruddha Bose and Sudhanshu Dhulia. The Employees Provident Fund Organisation on Tuesday told the Supreme Court of India the structure …

EPFO to soon disburse pension to over 73 lakh pensioners via central system
2 years, 5 months ago

EPFO to soon disburse pension to over 73 lakh pensioners via central system

The Hindu  

Retirement fund body, Employees' Provident Fund Organisation, will consider and approve a proposal for setting up a central pension disbursal system in its meeting on July 29 and 30, paving the way for crediting the benefit into over 73 lakh pensioners' bank accounts in one go across India. "A proposal for setting up a central pension disbursal system will be …

EPFO’s pension scheme likely to get a reboot
2 years, 10 months ago

EPFO’s pension scheme likely to get a reboot

Live Mint  

Retirement fund body Employees’ Provident Fund Organisation is toying with the idea of bringing out a new pension product for organised sector workers not covered under the Employees’ Pension Scheme, 1995. Public Provident Fund: PPF is a government-backed savings vehicle with quarterly fixed returns determined by the government. We showcase some of the key differences between NPS and PPF: National …

EPFO mulling new pension scheme for formal workers getting over Rs 15,000 basic wage
2 years, 10 months ago

EPFO mulling new pension scheme for formal workers getting over Rs 15,000 basic wage

India TV News  

Retirement fund body EPFO is mulling a new pension product for organised sector workers who are getting basic wages of more than Rs 15,000 per month and are not mandatorily covered under its Employees' Pension Scheme 1995. Thus, it is under active consideration to bring out a new pension product or scheme for those whose monthly basic wages are more …

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 …

Centre forms four panels to look into EPFO functioning
3 years, 1 month ago

Centre forms four panels to look into EPFO functioning

The Hindu  

The Union Government has formed four ad-hoc board-level committees to look into the functioning of different aspects of the Employees’ Provident Fund Organisation, including IT, communications and pension. Labour Secretary Sunil Barthwal has been tasked with steering two of the committees — on ‘pension reforms’ and ‘IT and Communications’. As per its terms of reference, the eight-member panel on pension …

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