EPFO Higher Pension Scheme: If you are also employed and want to take advantage of more pension, then this news is of your use. Under the Employees’ Pension Scheme, 1995 (EPS-1995), eligible pensioners can now apply till May 3 to avail the benefit of higher pension.
For the personnel who retired before September, 2014, the last date of this scheme was earlier March 3, 2023. The Ministry of Labor said, ‘Now on the demand of the union of workers / employers, the Central Board of Trustees has decided to extend the last date for receiving applications from such workers to May 3, 2023.’
Last date extended till 3rd May
Now you can apply till 3rd May through Unified Members Portal of EPFO. The Supreme Court, in an order issued on November 4, 2022, had said that EPFO will have to give 4 months time to all eligible members to opt for higher pension. This period was ending on 3 March. But there was a continuous demand from the employees to increase it. Now it has been extended till 3 May.
How to apply for more pension
To take advantage of the scheme, employees will have to go to the nearest EPFO office. There you will have to fill the application along with the required documents. At present, a limit of Rs 15,000 per month has been fixed for contribution to EPS. Even if your basic salary is Rs 50,000, your EPS contribution is Rs 1,250 based on a salary of Rs 15,000.