The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for certain categories of retired employees enrolled under Employees’ Pension Scheme (EPS) to apply for higher pension till May 3, 2023. The eligible pensioners can apply for higher pension online within the given deadline and the EPFO has activated the application link on its website.
In November 2022, the Supreme Court had allowed 4 months to apply for higher pension under EPS 1995. The window for EPS 1995 participants who resigned prior to September 1, 2014, to choose a higher pension expired on March 4, 2023.
The EPFO has now allowed eligible pensioners to apply online with the required documents through the unified portal. The employees who were members under EPS as on September 1, 2014, and continued to remain members of EPFO on or after September 1,2014, can now apply for higher pension. This option is available only for those who missed the earlier deadline.
According to the government data, more than 8,000 members have already submitted their applications online.
Earlier, the EPFO had issued a circular, on February 20, as per the rulings of the Supreme Court. For the benefits to be calculated correctly and the Pension Fund to be valued, the contributions, the deposits, diversion, previous services provided, and remittances will be assessed accurately.
On March 4, 2023, the EPFO closed the alternatives for the retired EPS members (prior to 01.09.2014 and whose options were not considered earlier). As of 04.03.2023, it had acquired 91,258 online applications from this category of candidates.
The Employees’ Pension (Amendment) Scheme 2014 was affirmed by the Supreme Court in November 2022. The pensionable salary limit was increased by the EPS amendment of August 22, 2014, from 6,500 to 15,000, and members and their employers were permitted to pay 8.33 percent of their actual salary (if they exceeded the cap) to EPS.
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