Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11.

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India’s retirement fund body, the Employees’ Provident Fund Organisation (EPFO), has extended the deadline for its higher pension scheme until July 11. The move comes as a relief for thousands of pensioners who were facing the prospect of losing out on the enhanced benefits due to the previous deadline of June 25.

The higher pension scheme, also known as the Employees’ Pension Scheme (EPS), allows EPFO subscribers to boost their pension amount by contributing a higher amount of their salary towards their pension fund. However, many subscribers had failed to increase their pension contribution before the original deadline, leading to concerns that they would miss out on the opportunity to secure a higher pension in their retirement years.

In response to the growing concerns, the EPFO has extended the deadline to July 11, 2022, giving subscribers an additional two weeks to take advantage of the enhanced pension scheme. This extension is expected to provide relief to thousands of subscribers who were struggling to meet the original deadline due to various reasons, including administrative delays and difficulties in making the necessary changes to their pension contributions.

The decision to extend the deadline has been welcomed by pensioners and employee unions, who have been lobbying for an extension in light of the challenges faced by subscribers in meeting the original deadline. Many retirees view the higher pension scheme as a vital source of financial security in their old age, and the extension of the deadline brings new hope for those who were at risk of missing out on the enhanced benefits.

It’s important to note that the extended deadline for the higher pension scheme is a one-time concession, and subscribers are strongly encouraged to take advantage of this opportunity before the new deadline. By increasing their pension contribution, EPFO subscribers can secure a higher pension amount that will provide them with greater financial stability during their retirement years.

In addition to the extended deadline for the higher pension scheme, the EPFO has also been taking steps to streamline its processes and make it easier for subscribers to access their pension benefits. The organization has been working to digitize its operations and enhance the efficiency of its services, with the aim of providing a more seamless and user-friendly experience for its members.

Overall, the extension of the deadline for the higher pension scheme is a positive development for EPFO subscribers, providing them with a second chance to secure a higher pension amount for their retirement years. As the new deadline of July 11 approaches, it is essential for subscribers to take proactive steps to increase their pension contributions and maximize their retirement benefits. With careful planning and the timely completion of the necessary formalities, EPFO subscribers can ensure that they have a solid financial foundation for their post-retirement years.