EPS-95 Latest Update: Important changes made very recently into Employees’ Pension Scheme 1995 (EPS-95) and these changes will directly affect millions of pensioners. The newly introduced pension provisions made by the Employees’ Provident Fund of India (EPFO) organization in a view of uplifting the living conditions of the pensioners and bringing better financial security for them, Even if someone in your family is still receiving pension under EPS-95, this information becomes very important.
Increase In Minimum Pension Amount
The EPFO has increased the minimum monthly pension amount under EPS-95 to ₹ 3,000. This increase is a relief news especially for those pensioners who were living on low pension amount for long times. More than 20 lakh pensioners are expected to benefit from this new provision.
New Process Of Pension Payment
Several improvements pertaining to making the process of pension payment smooth have been initiated by EPFO. Now the pensioners will only have to submit their Life Certificate each year during the month of November. For this, the provision of Digital Life Certificate has been started using the new technology. Under this system, pensioners can submit their life certificate either from their mobile app or biometrically from their place of residence. This will greatly facilitate senior or elderly pensioners.
Restoration Of Dearness Allowance (DR) In Pension Amount
This is yet another notable change whereby EPFO has reintroduced Dearness Relief for EPS-95 pensioners. Therefore, both the basic amount of pension and Dearness Allowance will be given from now on according to a periodicity determined by the Consumer Price Index (CPI). The step arises, keeping in view the ever-increasing inflationary pressure, to conserve purchasing power among pensioners.
Revision In Maximum Pension Limit
The highest pension limit has also seen changes under EPS-95. According to the new rules, the maximum monthly amount spent on pensions could be up to ₹15,000, compared to ₹ 7,500 earlier. Such change would prove significant for benefits to long-time pensioners whose pay levels were higher and his contribution periods longer. The amendment will help high-paid employees acquire much better financial support in their retirement.
Helpline And Grievance Redressal For Pensioners
In this context, EPFO has launched a helpline number (1800-118-005) specifically for pensioners and an online grievance redressal system for quick resolution of any grievances related to pensioners. Now, pensioners can make use of these facilities to get their dumb-chaining troubles solved. Also, EPFO has also launched a special pension portal at its website where pensioners can find their pension account status, payment history, and a few other things of importance.
Also Read: Dearness Allowance Hike 2025: Know How Much Your Salary And Pension Will Increase..
