The subscribers who have completed 58 years of age will get letters from EPFO informing them about their eligibility to claim for the benefits of pension.
8th April, 2014; NEW DELHI: The subscribers who have attained 58 years of age will be informed about their eligibility for pension by the Retirement fund body EPFO (Employees' Provident Fund Organisation) under the Employees' Pension Scheme, 1995 (EPS-95).
123 field offices of EPFO are given instructions in this regard for the avoidance of wrong contribution of subscribers towards EPS-95 after completing 58 years of their age.
The subscribers are not required to contribute towards pension scheme after attaining 58 years of age under EPS-95 scheme. They cease to be a member of the pension scheme after that.
However, a subscriber can remain a member of the EPFO's Employees Provident Fund and Employees Deposit Linked Insurance Scheme, 1976 till he retires.
No age bar is kept for these schemes. For members to file claims of pension and PF immediately, letters and list may be generated and spread through employers. An order of EPFO's office said that there will not be any erroneous diversion of contribution into Employees' Pension Fund by following this method.
The application software used by the EPFO has the facility of generating list and letters in respect of members who have completed the age of 58 years. So, it's just a click away after digitization of the body to generate the list of such members and letters for them informing them that they need to claim pension benefits.
- Cashless Economy Brings Significant Insurance Premium Discounts
In addition to discounts on diesel and petrol and exemption on...
- New Delhi Marathon to be sponsored by IDBI Federal Life Insurance
The inaugural edition of the New Delhi Marathon will be sponsored by...
- Micro-Insurance Business Of Bajaj Allianz Life Expected To Grow
In spite of its overall life insurance business getting a slight...
- Postal Life Insurance Scheme for Girl Child and Women
For a family, having a child plan is a vital requirement, as it helps...
- Reliance Life Insurance Introduces an Online Life Cover Plan of Rs One Crore
Reliance Life Insurance Company has recently come up with Reliance...
- Modi Government Launches 3 Social Security Schemes
Prime Minister Narendra Modi has launched three new social security...