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.
Get Tax Free Pension For Life
Flexibility to withdraw fund value any time
Guaranteed Tax SavingsUnder Sec 80 C & 10(10D)
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000
Get the best returns & make the most of your Golden years
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.
26 Oct 2021Retirement planning is a long-term financial goal. People often...
20 Oct 2021Atal Pension Yojana, an Indian Government-backed pension plan...
20 Oct 2021National Pension Scheme is a reliable government-backed plan...
06 Oct 2021Most of us want to have a good standard of living in our golden...