EPS-95 Pension Scheme: Pension Of RS 7500 And Free Medical Facilities, know The Rules  

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Truly saviors! Not long after the announcement for the effective implementation of the revisions in the Employees’ Pension Scheme (EPS-95), it is said that the government plans to propose ₹7,500 as minimum pension and free medical facilities for the eligible ones under it. The entire exercise aims to promote financial security and health care security for the overtime workers in terms of post-retirement lives of the Employees’ Provident Fund Organisation (EPFO).  

Pension Scheme Highlights Of EPS-95  

  1. Minimum Pension Increment: The government is currently in talks to increase the minimum pension from ₹1,000 to ₹7,500, which will mean a good financial life for the pensioners.  
  2. Free Medical Facilities: EPS-95 pensioners will be having free medical benefits soon to help address their health costs without incurring any extra financial burden on their backs.  
  3. Broadened Benefits: The proposed amendment will bring under its wings more than **65 lakh pensioners dependent on EPS-95 for their income post-retirement.  

Eligibility Criteria For EPS-95 Pension 

An employee has met the eligibility criteria for the EPS-95 scheme if they:  

  • Must have been a member of EPFO and EPS for at least 10 years.  
  • The retirement age should be 58 years or older in order to claim such benefits from the pension.  
  • Early retirees at 50 years can also take the pension, but in reduced amounts.  
  • On the death of the pensioner, the specific nominee (either spouse or children) will have the benefit of a family pension.  

Claim Procedures For EPS-95 Pension 

  1. Go Online on the EPFO Portal: Pensioners will be able to log on to the official EPFO website, submit their UAN (Universal Account Number), and generate their claim for pension benefits just like that.  
  2. Go To the Closest EPFO Office: Or, the pensioners can apply through the regional EPFO office by submitting related documents.  
  3. Pension Status Tracking: Pensioners can now keep up with their payments on the EPFO portal after getting approved.  

Conclusion

It will be a huge relief to the pensioners, as the government’s proposal for increasing the EPS-95 minimum pension to ₹7,500 and has provisions for free medical facilities. These moves will improve financial stability and medical care access to millions of retired employees. If this happens, then this would be a giant leap in the direction of better post-retirement benefits for the workers established under the aegis of EPFO.  

Stay connected with the latest news from the official government announcements regarding EPS-95 pension reforms.

Also Read: EPFO Special Card Coming: 7 Crore Members To Benefit, Check Details

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