January onwards, get EPS pension from any bank across India

Pensioners under the Employees’ Pension Scheme (EPS), 1995, run by the EPFO, will be able to get pension from any bank or branch across India from January, Labour Minister Mansukh Mandaviya said on Wednesday.

Mandaviya, who is also the chairperson of the Central Board of Trustees, EPFO’s apex decision-making body, has approved the proposal for a centralised pension payment system (CPPS) for the EPS, a labour ministry statement said.

“The approval of the CPPS marks a milestone in modernisation of the EPFO. By enabling pensioners to receive their pensions from any bank in the country, this initiative addresses the challenges faced by pensioners,” the minister said.