EPF Pension 2025 Update: Employees Eligible for Higher Payouts Under the Higher Pension Scheme
The EPFO’s Higher Pension Scheme under the EPS-95 is an advantageous program for employees working in certain organisations that allows them to get a higher pension during their retirement days based on full salary, with an easy application procedure, long-term saving, digital payment of claims, and the expanded benefit of more than 70 million members.
Update on Higher Pension Scheme
The EPFO has given a green signal to employees who come under EPS-95 to take the benefit of a higher pension, depending on the actual salary after the clarifications by the Supreme Court.
Full Salary Benefits
The Higher Pension scheme is an option for the employees that provides full basic plus dearness allowance salary, and hence the full amount of 15,000 Rs is not applied to the workers who joined pre-2014.
Application Process
Eligible members apply through the EPFO website or UMANG app; if the employers do not raise any objection, then the joint declarations are validated within 15 days.
EPS Withdrawal Rules
Among the new reforms is a 36-month waiting period to withdraw the funds from EPS, with building a corpus, the early withdrawal will lead to a reduction in pension by four per cent yearly.
Who Benefits Most
Centralised payments, no minimum EDLI balance restrictions, and digital claims are all benefits that over 70 million members, including excluded trusts, gig, and platform workers, can enjoy.
Long-Term Saving & Security
Reforms are aimed at providing retirement security through 8.25% interest, auto-PF transfers, and self-wage declarations, thus ensuring enhanced pension planning after 58 years.
