Eps-95

As many as 1,20,279 persons have applied online to opt for higher pension under Employees' Pension Scheme 1995 (EPS-95) till March 9, 2023, Parliament was informed on Thursday.

The Supreme Court order provides that employees who were existing EPS-95 members as on September 1, 2014 can contribute up to 8.33 per cent of their actual salaries, as against 8.33 per cent of the pensionable salary capped at Rs 15,000 a month, towards pension.

Employees who have less than six months left in their service will be allowed to withdraw accumulations in Employee's Pension Scheme 1995 (EPS-95).

EPFO is thinking of coming out with a new pension product for organised sector workers who are getting basic wages of more than Rs 15,000 per month

The Employees' Provident Fund Organisation's trustees in a meeting on Thursday will consider a proposal to raise the age limit from 58 to 60 years for vesting of pension under the Employees' Pension Scheme (EPS-95).

In order to remove uncertainty over the payment of minimum Rs 1,000 monthly pension under the Employees' Pension Scheme 1995 (EPS-95) beyond March 31, the government has said it will amend the scheme to make it a permanent feature.

Earlier, estimates of EPFO had suggested that the immediate beneficiaries who were getting less than Rs 1000 every month would be 28 lakh while the total number of pensioners under the Employees' Pension Scheme (EPS-95) of Employees Provident Fund (EPFO) were 44 lakh.

While announcing that government is notifying the minimum pension under the Employees' Pension Scheme-1995 (EPS-95), Finance Minister Arun Jaitley also stated in his budget speech today that wage ceiling covering organised sector workers under schemes run by EPFO has been raised to Rs 15,000 per month from existing Rs 6,500.

The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.

The Employees' Provident Fund Organisation (EPFO) will inform its subscribers on their attaining the age of 58 years that they are eligible for pension under the Employees' Pension Scheme, 1995 (EPS-95).

At present, the central government contributes 1.16 per cent of workers' basic wages, including basic pay and dearness allowance, towards Employees' Pension Scheme 1995 (EPS-95) run by the Employees' Provident Fund Organisation (EPFO).

Retirement fund body EPFO will not allow higher contribution towards pension scheme in fresh cases for time being as it causes additional financial burden on the Employees' Pension Scheme 1995 (EPS-95).

As many as 1,20,279 persons have applied online to opt for higher pension under Employees' Pension Scheme 1995 (EPS-95) till March 9, 2023, Parliament was informed on Thursday.

The Supreme Court order provides that employees who were existing EPS-95 members as on September 1, 2014 can contribute up to 8.33 per cent of their actual salaries, as against 8.33 per cent of the pensionable salary capped at Rs 15,000 a month, towards pension.

Employees who have less than six months left in their service will be allowed to withdraw accumulations in Employee's Pension Scheme 1995 (EPS-95).

EPFO is thinking of coming out with a new pension product for organised sector workers who are getting basic wages of more than Rs 15,000 per month

The Employees' Provident Fund Organisation's trustees in a meeting on Thursday will consider a proposal to raise the age limit from 58 to 60 years for vesting of pension under the Employees' Pension Scheme (EPS-95).

In order to remove uncertainty over the payment of minimum Rs 1,000 monthly pension under the Employees' Pension Scheme 1995 (EPS-95) beyond March 31, the government has said it will amend the scheme to make it a permanent feature.

Earlier, estimates of EPFO had suggested that the immediate beneficiaries who were getting less than Rs 1000 every month would be 28 lakh while the total number of pensioners under the Employees' Pension Scheme (EPS-95) of Employees Provident Fund (EPFO) were 44 lakh.

While announcing that government is notifying the minimum pension under the Employees' Pension Scheme-1995 (EPS-95), Finance Minister Arun Jaitley also stated in his budget speech today that wage ceiling covering organised sector workers under schemes run by EPFO has been raised to Rs 15,000 per month from existing Rs 6,500.

The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.

The Employees' Provident Fund Organisation (EPFO) will inform its subscribers on their attaining the age of 58 years that they are eligible for pension under the Employees' Pension Scheme, 1995 (EPS-95).

At present, the central government contributes 1.16 per cent of workers' basic wages, including basic pay and dearness allowance, towards Employees' Pension Scheme 1995 (EPS-95) run by the Employees' Provident Fund Organisation (EPFO).

Retirement fund body EPFO will not allow higher contribution towards pension scheme in fresh cases for time being as it causes additional financial burden on the Employees' Pension Scheme 1995 (EPS-95).