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.
- Most Read
- Long Term Capital Gains Tax: Time for ULIPs to Rise and Shine
Date: 05 February 2018
- Term Vs Whole Life Insurance: Which one you Should Buy?
Date: 01 February 2018
- Why Should You Invest in LIC’s New Children Money Back Plan?
Date: 31 January 2018
- How to Financially Secure Your Child's Future
Date: 25 January 2018
- Everything You Need To Know About LIC Pension Plans
Date: 25 January 2018
- Best 5 LIC Policies To Invest in 2018
Views : 1256168
- How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Views : 1220612
- A Quick Guide To Post Office Monthly Income Scheme
Views : 489118
- Best Term Insurance Plans in India with Claim Settlement Ratio
Views : 482060
- National Pension Scheme (NPS) – Govt Approved Pension Scheme
Views : 363938