The government is preparing to credit Rs 7,500 into the accounts of Employees’ Provident Fund Organisation (EPFO) pensioners. This step is expected to benefit about 78 lakh pensioners under the Employees’ Pension Scheme (EPS). The move aims to provide financial stability to retired employees.
Reasons Behind Rs 7,500 Credited By EPFO
The government has been under pressure to increase the minimum pension under EPS-95. Many pensioners currently receive very low monthly pensions, making financial survival difficult. The proposed minimum pension of Rs 7,500 is a recommendation from employee unions and pensioner associations. If approved, it will provide much-needed relief to millions.
Who Will Benefit from EPS-95 Pension Increase?
| Category | Beneficiaries |
|---|---|
| EPS-95 Pensioners | Those retired under EPS-95 will be the primary beneficiaries. |
| Low Pension Receivers | Those receiving pensions below Rs 7,500 will benefit directly. |
| Active EPFO Members | Current contributors may see future pension increases. |
When Will The Money Be Credited?
There is no official announcement yet. However, reports suggest that the new pension amount may be credited within the next few months. The government is expected to release an official notification soon. Pensioners should ensure their EPFO records and bank details are updated for a smooth transfer.
How To Check Your EPFO Pension Status?
Pensioners can check their status online by following these steps:
- Visit the EPFO Member Portal
- Login using your UAN and password
- Click on ‘Pension Payment Enquiry’ to view your pension details
Conclusion
The planned credit of Rs 7,500 into EPFO pension accounts is a significant relief for pensioners struggling with low pensions. This is a positive step toward better financial security for retirees. Stay updated with official announcements from EPFO for payment details.
FAQs
Who will get Rs 7,500 pension?
Pensioners under EPS-95 receiving less than Rs 7,500 will benefit.
When will the amount be credited?
No official date yet, but it may happen in the coming months.
How can I check my pension status?
Visit the EPFO Member Portal and check under ‘Pension Payment Enquiry’.
Do I need to update my bank details?
Yes, keeping your EPFO records updated ensures a smooth transaction.
Will active EPFO members benefit?
Not immediately, but future pensions may increase for active members.