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EPS pensioners to get pension from anywhere in India from Jan 2025: Mandaviya

Speaking about this landmark decision, Union Minister Dr. Mansukh Mandaviya said, “The approval of the Centralized Pension Payment System (CPPS) marks a significant milestone in modernisation of the EPFO
08:50 AM Sep 05, 2024 IST | GK NEWS SERVICE
eps pensioners to get pension from anywhere in india from jan 2025  mandaviya
Source/PIB
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New Delhi, Sep 04: Union Minister of Labour and Employment and Chairperson, Central Board of Trustees, EPF has approved the proposal for a Centralised Pension Payment System (CPPS) for Employees’ Pension Scheme, 1995. The CPPS marks a major shift by establishing national-level centralized system, enabling pension disbursement through any bank, any branch across India.

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Speaking about this landmark decision, Union Minister Dr. Mansukh Mandaviya said, “The approval of the Centralized Pension Payment System (CPPS) marks a significant milestone in modernisation of the EPFO.

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By enabling pensioners to receive their pensions from any bank, any branch, anywhere in the country, this initiative addresses the long-standing challenges faced by pensioners and ensures a seamless and efficient disbursement mechanism. This is a crucial step in our ongoing efforts to transform the EPFO into a more robust, responsive, and tech-enabled organization, committed to serving the needs of its members and pensioners better.”

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The Centralised Pension Payment System is expected to benefit more than 78 lakh EPS pensioners of EPFO. By harnessing advanced IT and banking technologies, it will offer a more efficient, seamless, and user-friendly experience for pensioners.

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