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This video explains the case of retired employees eligible for higher pension as per the supreme court judgement dated 04.11.2022. The EPFO released circular to implement the directions of supreme court on the retired employees case. The timeline was 8 weeks from the date of judgment. Therefore, the EPFO released the guidelines on 29.12.2022. The video while explaining the guidelines also talks about the gist of the SC judgment on this matter.
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Download the circular in the below link
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Higher Pension for Retired Employees prior to 01.09.2014 | EPFO Guidelines 29.12.2022
Retirement is a phase of life that everyone looks forward to after a long and dedicated career. To ensure a comfortable and financially stable retirement, individuals rely heavily on their pension. The Employee’s Provident Fund Organization (EPFO) plays a crucial role in safeguarding the interests of retired employees by providing them with a pension scheme.
In 2014, the EPFO introduced a landmark decision to increase the pension of retired employees who retired before 01.09.2014. This move was made to address the disparities in pension amounts for retirees based on the date of their retirement. Prior to this decision, pensioners who retired prior to 01.09.2014 received a much lower pension than those who retired later.
To rectify this inequality, the EPFO introduced the Employees’ Pension Scheme (EPS) 1995 amendment. According to this amendment, the pension for pre-2014 retirees was revised to a higher amount. The EPFO guidelines dated 29.12.2022 provide detailed instructions on how this higher pension is calculated.
The EPFO guidelines state that the pension for pre-2014 retirees will be revised by multiplying the pensionable salary as on 15.11.2014 by a factor of 2.57. The pensionable salary is the average monthly salary drawn during the 12 months immediately preceding the member’s exit from the pensionable service. This revised pension will take effect from 01.01.2016.
This decision has provided significant relief to retirees who were grappling with lower pension amounts for years. The increase in pension has helped them meet rising expenses, medical needs, and lead a more comfortable life during their retirement years.
Furthermore, the EPFO guidelines also address the issue of arrears for the period between 01.01.2016 and the date of actual implementation of the higher pension. The guidelines state that the arrears will be credited to the pensioner’s account as a lump sum. This ensures that retirees receive the full benefit of the increased pension amount without any delays or complications.
It is important to note that these revised pension benefits are applicable only to those who retired before 01.09.2014. Employees who retired after this date are already entitled to the higher pension as per the EPFO guidelines at the time of their retirement.
The EPFO’s decision to provide a higher pension to pre-2014 retirees is a commendable step towards promoting equity and fairness in pension benefits. It recognizes the contributions and hard work of retired employees and ensures that they can enjoy a dignified and financially secure retirement.
Retirement should be a time of relaxation and enjoyment, free from financial worries. With the higher pension introduced by the EPFO for pre-2014 retirees, many individuals are now able to fulfill their dreams and aspirations during their golden years.
I am retired March 2013 also not interested to get higher pension how much pension eligible
Bedbhav nahi hona chai e ? I am epfo pentioner adi gujarat 2002 me retrach private mills job Rs 874- miltahe age 61
Sir, Hindi ni aati india k ho na aap
In case if the person loses job at 50 years and is forced to take up another job for a lower salary with lower basic wages, the last 5 year average basic wage would be less. Thereby the pension amount would also be less. Is this right?
Hi Sir, i have just filling higher pension online form for my dad, and i was getting error for establishment not available against member id, can you plz help what I can do to proceed further
Hi dear all,
I have a case where I want to understand the eligibility of a higher pension please refer to the case as furnished below.
My father was working in the BMTC department and retired on July, 17th 2015.
Unfortunately in the period 2019 he passed away and further pension was transferred in the name of mother.
Now I want to understand if my mother will be eligible to claim the benefits of a higher pension scheme?
Awaiting for your valuable response.
Thank you.
Dear Sir, I am retired in NOV 21 and withdrawn my full pf . which is trustee. Now I am willing to opt for higher pension. For which I need to deposit amount with interest for the same, but amount not known. In addition I need to give declaration regarding the same. if the amount is more it will be difficult to pay as pf amount already invested. I am already getting EPFO pension but if later date due to lack of fund I not able to pay still my old pension will continue or will be stopped. please clarify. as this is major question of lots of employee like me.
Most of the people retired before 2014 got less salary and no body has informed by the organization working that they have to opt for joint option . So they have not opted for it. Now also they have denied to opt for higher pension. As per me, it's very unfortunate for people who retired before 2014. By they way their current drawn pension also very low. These respected senior citizens struggling hard for their livelihoods. It's unwise for govt, court or epfo leave these people without any support.
TOTALmess. Now after 15 years of retirement who knows what was the contribution from my side. Also I was working in a pvt. Co. Who will know the facts?
Those pensioners who retired before 2014 and getting very less pesion. They are not in position to understand judgement and other complicated things they just want to know…I am I eligible or whether I am going to get more pension or not. If yes just simplify and give me high pension.
I retird २०१० n my pention is only १३००
Sir best thing for all EPS Pensioners irrespective of the fact to when one retired his or her contribution was either 8.3% or 12% of the PF in which a portion with the maximum ceiling of 2500 from. 1974 to 2006. And afterwards the ceiling was raised to 5000 the 6500. DPS law came into operation from November 1995.In 2014 the maximum ceiling went to 15000.So most of the cases where if the retiree has put 35 years as per formula get 50% of the ceiling from 2500. Then 5000.and then 6500.plus after 2014 it was 15000.So pension ranges from 1250 2500 3250 and 7500.that too for 35 years. Otherwise relatively low. But ony for 12% of PF people their DA goes on changing. So if we want raise we have to pay the difference@ 12%Of the celing. Then we can apply.
What about people who have retired after 2014??
Rc gupta says epfo can't put cut off date on welfare scheme.
Retired on 31-05-2009 , I given option for Heigher pension earlier but my application is rejected by the PF commissioner, can I eligible give option for Heigher pension now please clarify.
Why all these complications those who retired has to get pension. If somebody not submitted option before 2014 they have to submit auction like post 2014 retired employees. Please find a way what is the tragic thing government is doing
Sir, I retired before 1.9.2014 and my epf contribution was above Rs 5000/-per month. I am getting the eps 95 pension after my age was 58 years. Please tell me whether I will get the higher pension by giving option.
Sir my father got retired in 1.10.2016…is he eligible?
What about people retired after Sep 2014?
Sir i have a few following doubts:
1. If a retired person who has contributed to the PF on actual salary, is he eligible to get higher pension.
2.To get the benefit of higher pension, should the retired employee has to pay some aditional amount to employer and EPO.
Dear I join ongc 07/05/1987 retd31/01/20 iget peronth eps 95 rs 2939/15000/ recovy rs 1250/you teel me next ido pl ans me
Respected sir
I get family epfo pension just of RS 1000/- Can you please suggest a way to get more pension than this
What will happen those pensioners who were paid(getting) revised higher pension and subsequently stopped from 2020…
What is "exercising option"
I believe that there are so many exceptions, it's impossible for me to even look forward to any enhancement .
1016 rupees was my EPF pension in 2006 and so it remains !
EPFO is Corrupt organization