EPFO Pension New Rule: Union Minister Dr Mansukh Mandaviya said that after this change, pensioners will not face any problem in withdrawing their pension from any bank, any branch anywhere in the country.
EPFO Pension New Rule: Very good news has come for crores of EPFO subscribers. Under an unprecedented decision of the Central Government, the Centralized Pension Payment System (CPPS) has been fully implemented in all the regional offices of EPFO across India. This work was completed by December 2024. By December 2024, pension of about Rs 1570 crore has been distributed to more than 68 lakh Employee Pension Scheme i.e. EPS pensioners.
Withdraw your pension from any bank, branch anywhere in the country
Union Minister Dr Mansukh Mandaviya said that after this change, pensioners will not face any problem in withdrawing their pension from any bank, any branch anywhere in the country. The direct meaning of this decision is that now EPFO pensioners can withdraw their pension from any regional EPFO office in the country. The Centralized Pension Payment System has been implemented in all 122 regional EPFO offices in the country.
Efforts to give benefits of advanced features of EPFO
Union Labor Minister Dr Mansukh Mandaviya said that the Centralized Pension Payment System reflects our commitment to advance EPFO services and ensure transparency with facility for our pensioners. The first pilot project of CPPS was successfully completed in Jammu, Karnal and Srinagar Regional Offices in October 2024. Under this, a total of 11 crore pensions were distributed to 49,000 EPS pensioners. The second pilot program was successfully completed in 24 regional offices of the country. Through these 24 local offices, pension of Rs 213 crore was distributed to more than 9.3 lakh pensioners.
A Major Milestone in Modernizing EPFO!
EPFO’s Centralized Pension Payments System is now fully operational. This modern system ensures that pensioners can access their pensions from any bank, anywhere in India swiftly and hassle-free.
Under the leadership of PM Shri… pic.twitter.com/AvuEmxC80y
— Dr Mansukh Mandaviya (@mansukhmandviya) January 3, 2025
Union Minister Mansukh Mandaviya shared the post
The Union Minister shared this information by sharing a post on X on this occasion. He said that through this the need for physical verification will be eliminated and pension distribution can be disbursed in a very easy way. With this rollout, we are setting a new benchmark in pension service distribution.
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