EPFO Pension: There is good and important news for the pensioners getting pension from the Provident Fund Organization (EPFO). Actually, there is going to be a big change in the system of pension amount from EPFO. All pensioners will get the benefit of this.
There is great news for more than 73 lakh pensioners of the country. More than 73 lakh pensioners of Employees’ Provident Fund Organization (EPFO) will now be able to get pension together. For this, the government is preparing to set up a central pension distribution system. The EPFO meeting is going to be held on July 29 and 30 in this regard. According to the information, this proposal can get green signal in this meeting.
In fact, at present, 138 regional offices of EPFO in the country send pension to the accounts of pensioners of their area. Due to which pensioners get the pension amount in their account at different days and times. If this system continues to be approved, then pension amount can be sent in one go to the accounts of more than 73 lakh pensioners across the country.
Let us tell you that in the 229th meeting of CBT held on 20th November, 2021, the trustees had approved the proposal for development of centralized IT based system by C-DAC. The Labor Ministry had said after the meeting that thereafter the details of regional offices would be transferred to the central database in a phased manner. This will facilitate the operation and delivery of services.
With the implementation of the centralized system, EPFO subscribers will get many benefits. With this there will be no duplication, as well as multiple PF accounts of a member will become a single account after merger. If someone changes jobs then the hassle of transferring PF account will also end.