EPFO will inform subscribers to claim pension at 58

Retirement fund body EPFO will inform its subscribers on their attaining the age of 58 years that they are eligible for pension under the Employees’ Pension Scheme, 1995 (EPS—95). The Employees’ Provident Fund Organisation (EPFO) has given instructions in this regard to its 123 field offices, in order to avoid erroneous contribution by subscribers towards EPS—95 after attaining the age of 58 years. Under EPS—95 scheme, a subscriber ceases to be a member of the pension scheme on attaining the age of 58 years and they are not required to contribute towards pension scheme.

Read the Hindu Business Line news report here.