EPFO EPS’95 Scheme: EPS’95 benefits available to both existing and new EPF members

The Employees’ Pension Scheme 1995 or EPS-95 is a social security scheme which was introduced in November 19, 1995, by the EPFO. The scheme entitles the employees working in the organized sector for a pension after their retirement at the age of 58 years.

Employees who are eligible for the EPF plan are also eligible for EPS; however, the benefits of EPS can be obtained only if the employee has been in service for at least 10 years (this does not have to be continuous service). The scheme’s benefits are available to both existing and new EPF members.

Salient Features of EPS’95:

1. Member Pension upon superannuation at the age of 58 years.

2. Early Member Pension from age of 50 years (Only if unemployed).

3. Widow/Widower Pension on death of Member [including under 1st Proviso to Para 12(8)] or Pensioner.

4. Disablement Pension on permanent and total disablement of member during service.

5. Children Pension for 2 children at a time till the age of 25 years on death of the member/pensioner.

6. Orphan Pension to 2 orphans at a time till the age of 25 years on death of a member/pensioner when there is no spouse or on death of spouse.

7. Disabled Children/Orphan Pension for the entire life of the disabled child/orphan.

8. Nominee Pension on death of member and paid for life to a person duly nominated by the member in case there is no family as defined under EPS, 1995.

9. Pension to dependent father/mother upon death of a member provided there is no family or nominee of the member.

EPS’95 benefits are available to both existing and new #epf members… #AmritMahotsav #pension #EPS pic.twitter.com/201KAecq4x

— EPFO (@socialepfo) December 22, 2022