Subscribers at 58 will be Informed to Claim Pension by EPFO

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.

  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

Get the best returns & make the most of your Golden years

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

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. 

People Also Read: Best Retirement Plan

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.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
View Plan
Pension Plans
+Standard T&C Applied
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Secure your Retirement today!
START INVESTING
₹6,000/month
GET PENSION
₹60,000/month+
Heart
INCLUDING LIFE COVER
+ Standard T & C Apply*
Pension Calculator
Pension Calculator
How much do you need to save for retirement?
₹ 20,000
₹ 25,000
₹ 30,000
Monthly Expenses in 2024
Edit Done
Your expense go up every year by
Today 2024 Your expenses today in 2023, at the age of 34 Yrs
Your expenses in 2043, at the age of 55 Yrs
For a monthly pension of ₹77,300
you need to invest
₹14,300/month
Calculated as per past performance of 15%
View Plan Recalculate?

Pension plans articles

Recent Articles
Popular Articles
Pension Calculator

13 Feb 2024

Pension calculator helps you calculate the amount you could
Read more
NPS vs ULIP - Which One Is Better?

10 Oct 2023

NPS (National Pension System) and ULIP (Unit Linked Insurance
Read more
Best Mutual Funds for Retirement

21 Sep 2023

Planning for a secure and comfortable retirement is a financial
Read more
Mahila Samman Savings Certificate (MSSC)

04 Sep 2023

The Mahila Samman Savings Certificate (MSSC) or Mahila Samman
Read more
Single-Premium Pension Plan

28 Aug 2023

A Single-Premium Pension Plan is a retirement savings option
Read more
NPS Tier 2 Account Advantages and Disadvantages
The National Pension Scheme (NPS) is a government-backed initiative designed to safeguard investors' interests
Read more
Sevarth Mahakosh
Sevarth Mahakosh Portal is a one-stop solution for all state government employees' financial transactions and
Read more
NPS Calculator 2024
NPS Calculator is a financial tool that calculates potential returns on the National Pension Scheme, by inputting
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL