End logjam for EPFO pensioners
Image for representation.
| Photo Credit: The Hindu
A recent official announcement about the successful pilot run of the new Centralised Pension Payments System (CPPS) under the Employees’ Pension Scheme, 1995, comes at a time when lakhs of members of the Employees’ Provident Fund Organisation (EPFO) and pensioners have been waiting to hear about their applications for pension on higher wages.Some questions remain
The launch of the CPPS is undoubtedly a relief to new pensioners. They will not be required to open an account in specified banks just to receive their monthly entitlement. Under the new system that will come into force from January 1 across the country, pensioners can collect their pension from a...