EPS 95 News

The Employees’ Pension Scheme (EPS) offers monthly pension benefits to organised sector workers after retirement. Funded mainly by employers, EPS requires at least 10 years of service and full pension starts at age 58. The pension amount depends on average salary and years of service, with Rs 1,000 minimum and Rs 7,500 maximum monthly payout.  

The Board approved simplified and liberalized partial withdrawals, merging 13 complex provisions into three categories: Essential Needs, Housing Needs, and Special Circumstances. 

The EPFO Board of Trustees will meet on October 13, 2025, after a nine-month gap to discuss key issues including the EPFO 3.0 digital transformation and the Employment-Linked Incentive (ELI) scheme aimed at creating 3.5 crore jobs over two years. While minimum pension revision under EPS-95 is not officially on the agenda, it may be discussed informally, with reports suggesting a potential increase from Rs 1,000 to Rs 2,500 per month. The meeting is expected to impact millions of EPFO subscribers, focusing on technological upgrades, employment initiatives, and pensioners’ concerns.  

Despite this large corpus, pension payouts remain modest. 

Retirement fund body EPFO may soon allow its subscribers to contribute voluntarily towards its pension scheme in addition to their employers' mandatory contributions.