Key facts
- The Employees' Pension Scheme (EPS), 1995, is managed by the Employees' Provident Fund Organisation (EPFO).
- Eligibility for EPS-95 requires earning up to Rs 15,000 monthly and meeting minimum service criteria.
- Benefits include superannuation, family, and disablement pensions.
- The pension is calculated based on average pensionable salary over 60 months and pensionable service.
- Reduced pension can be drawn from age 50.
- Pensioners must submit annual life certificates or Digital Life Certificates (DLC) to continue receiving payments.
The Employees' Pension Scheme (EPS), 1995, is a key retirement benefit for organized sector employees in India who are covered under the Employees' Provident Fund (EPF). Managed by the Employees' Provident Fund Organisation (EPFO), the scheme offers several benefits, including monthly superannuation pensions for members who meet eligibility criteria, family pensions for dependents in case of the member's death, and disablement pensions for those suffering permanent disability during service.