Good news for EPS-95 holders : Hello friends, are you also a member of Employees’ Pension Scheme 1995 i.e. EPS-95, have worked in either private or government job and have also retired, then a very good news has come for people like you. Yes, let me tell you through this post that a very big decision has been taken by the government in the interest of EPS 95 pension holders.
Under this decision, it has been decided to provide pension of ₹ 7500 every month along with government bonus. So let us try to explain the complete information of this scheme in simple language below.
Important information related to EPS-95 pension scheme
Here we are going to discuss what is Employees’ Pension Scheme 1995 and for whom this scheme is for. I would like to inform all of you that Employees’ Pension Scheme 1995 i.e. EPS 95 scheme is a retirement scheme.
This scheme is run by the Employees Provident Fund Organization. It has been started for all those employees who work in a government or private company and meet the eligibility criteria for salary PF deduction.
Some important points related to the scheme are as follows:-
- The benefit of EPS 95 is provided only to the EPF account holder.
- After a minimum of 10 years or more of service, the employees are considered eligible to receive pension under this scheme.
- You should be well aware that earlier a very low amount of pension was given under this scheme, which was approximately ₹1000 to ₹2000 per month.
- But now a big news has come that along with pension up to Rs. 7500, the government is also discussing about giving additional bonus.
EPS pension Rs 7,500 per month
Friends, we are discussing the minimum amount that can be given under the pension scheme through a list which looks like this below:-
- It is expected that minimum pension of ₹ 7500 per month will be given by the government under this scheme.
- Increase may also be included from time to time by the government as per inflation.
- This proposal has been placed before the Finance Minister and there is full possibility of it getting approval.
Try to understand with an example:-
- There is a man named Ramesh Yadav living in Mumbai. He has been working in a private company for 23 years and earlier under EPS, he was being given only Rs 2200 as pension every month.
- Now, after the new decision being taken by the government, these people are likely to get a pension of ₹ 7500 every month.
- Ramesh Yadav ji is saying that now his life will become a lot easier.
Along with EPS 95 pension, additional bonus will also be available
- Annual bonus ranging from ₹2000 to ₹5000 will be given under the proposed scheme along with pension under social security.
- Annual bonus of ₹2,000 to ₹5,000 proposed. This bonus will be given to all those pensioners whose income is very low.
What is the complete process of getting EPS 95 pension?
- You will have to visit EPFO portal https://www.epfindia.gov.in .
- You will have to login to the portal by entering the UAN number.
- All the information has to be uploaded in Form 10-D. After verification, pension will start coming into the account.
