EPS 95 Pension Latest News 2022-23 Today, EPS Pension Scheme

Searching for EPS 95 Pension Latest News Today? From this article, you can grab all the latest news regarding the Employees’ Pension Scheme 1995 (EPS 95) from here. The EPS 95 News has announced by the Employees’ Provident Fund Organisation (EPFO). If we talk about the Pensioners under EPS-95 can get Rs. 5000/- per month as interim relief. And also get Rs. 7,500/- eventually, by the labor ministry in view of the assurances.

At Present, The pension is Rs. 1000/- per month given under the EPS 95 Scheme which is managed by the Employees’ Provident Fund Organization (EPFO). A Statement has passed by the EPS-95 Pensioners Sangharsh Samiti is that the labor minister had assured its delegation, on 06th December 2017.

Employees’ Pension Scheme 1995, (EPS 95) | EPFO

EPF term refers to the Employees’ Pension Scheme. In Short, EPS is a scheme that gives social security to employees given by EPFO. EPFO is Employees Provident Fund Organisation. This EPS offers financial support to employees after retirement at the age of 58 Year, so that employees can work with their organization without thinking about the pension. An employee is eligible to avail of the benefits of EPS only if at least 10 Years of service is completed with the organization. EPS was introduced in 1995 and it allows new Members as well as existing employees to connect with the scheme.

General Details Regarding EPS 95 Pension Latest News 2022-23

Name of Scheme EPS 95 Scheme (Employees’ Pension Scheme 1995)
Managed By the Employees’ Provident Fund Organisation (EPFO)
Type of Article Latest News
Interim relief for Pensioners Rs. 5000/- a month
Present Pension Amount Rs. 1000/-
Eligibility Criteria Candidates should have completed 10 years of service. Only a Member of EPFO can apply for EPS 95.
Types of Pension under the scheme of EPS 95 Widow Pension, Child Pension, Orphan Pension, Reduced Pension
EPS Official Portal epfindia.gov.in

EPS 95 Pensioner’s Eligibility Criteria

  • Applier who is a member of EPFO can apply for EPS 95.
  • Candidates should have completed ten years of their service.
  • Aspirants also withdraw their EPS at a reduced rate from the age of 50 years.
  • 58 years old candidates can apply for the EPS 95 Scheme.

How Can I Calculate My Pension Under EPS 95?

You can calculate your Pension amount by using the formula as follows:

Member’s Monthly Salary = Pensionable Salary * Pensionable Service/ 70

Pensionable Salary: Pensionable Salary is the average monthly salary in the last 12 months before exits the EPS 95. The maximum Pensionable Salary is Rs. 15,000/- per month.

Pensionable Service: If we talk about the Pensionable Service, then it is the actual service period of the employees. Aspirants get a bonus of 02 years after completing 20 years of service.

Types of Pension Under Employees’ Pension Scheme | epsindia.gov.in

There are four types of Pension under the Employees’ Pension Scheme as shown below:

Widow Pension: Widow or Vridha Pension is available for the Widow ladies. The Minimum Pension amount of Widow Pension has been increased to Rs. 1000/-.

Child Pension: Child Pension is a facility for surviving children after the death of a member. The measure of the child pension is 25% of widow pension. This pension is given to the child till the age of 25 Years. Maximum 2 Children are eligible to receive Child Pension. Child pension is contributing factor to a surviving child’s Life.

Orphan Pension is the scheme for a child in case of no surviving widow. Orphan Child will receive a total of 75% of amount monthly widow pension. Maximum two surviving children can apply for Orphan Pension who are oldest to youngest.
Reduced Pension: An employee who has been completed 10 service years and 50 Years of age but has not crossed 58 years is eligible for a reduced pension. For reduced pension 4 % of pension amount is hacked for every year till the age of 58 years.

EPS 95 Scheme Advantages | epfindia.gov.in 95 Latest News

  • EPS Scheme Certificate will get awarded to the Pensioners.
  • Pension will get provided to the Pensioner’s Family on the death of the Member.
  • If the member leaves their service before becoming eligible, then he will also get the pension. But he should have to complete ten years of service and also fulfill the age criteria for EPS 95.

Pension Form Under EPS 95 Scheme

There are many types of Forms available to apply for the Employees’ Pension Scheme 95 (EPS 95) as given below:

  • Form 10C: Member
  • Form 10D: Member
  • Life Certificate: Pensioner/ Guardian
  • Non-Remarriage Certificate: Widow/ Widower

How To Check EPS Amount?

  • Applicants may check their EPS Amount from the EPF Passbook of EPS Account.
  • The last column of the passbook denotes the EPS Contribution which is deposited by the employer every month in the account of the pensioner.
  • You may also download the EPF Passbook from its official portal.

Important Links Related To EPS 95 Latest News 2021-22

EPS 95 News 2022: Read Here

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