HomeEmployees Pension SchemeRestoration of commutation of pension under EPS

Restoration of commutation of pension under EPS

- Advertisement -

Restoration of commutation of pension under EPS

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
RAJYA SABHA
QUESTION NO 442
ANSWERED ON 20.11.2019

Restoration of commutation of pension under EPS

442 Shri S. Muthukaruppan

Will the Minister of LABOUR AND EMPLOYMENT be pleased to state :-

(a)whether it is a fact that the Employees Provident Fund Organisation (EPFO) has approved a proposal to restore commutation of pension or advance part withdrawal under the Employees Pension Scheme (EPS);

- Advertisement -

(b)if so, the details thereof; and

(c)whether it is also a fact that the said move will benefit 6.3 lakh pensioners under EPS?

ANSWER

MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI SANTOSH KUMAR GANGWAR)

(a) to (c): The provision of commutation was deleted vide notification G.S.R. 688 (E) dated 26.09.2008. At present, no such proposal has been approved to restore the provision for commutation of pension under the Employees’ Pension Scheme (EPS), 1995.

However, a proposal for restoration of the commuted value of pension after expiry of 15 years for EPS pensioners who had opted for commutation is under consideration.

- Advertisement -

Subscribe to our newsletter

To be updated with all the latest news, Government Orders, and special announcements. Once subscribed click activate link from your inbox.

Follow Us

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest