EPFO implements a centralised pension payment system

The EPFO has implemented a centralised pension payment system for beneficiaries of the Employees’ Pension Scheme, 1995, throughout India. Under this new framework, pension payments will be processed through any bank and any branch throughout India.

This initiative aims to resolve the persistent issues faced by pensioners, providing a more streamlined and effective disbursement process. It will eliminate the necessity of transferring pension payment orders between the EPF offices when pensioners relocate or change their banking arrangements. This initiative empowers pensioners to access their pension seamlessly from any bank, any branch, anywhere in the country. It also eliminates the need for physical verification visits and simplifies the pension disbursement process. Furthermore, there will be no need for pensioners to visit their banks for any verification at the time of commencement of pension, and the pension shall be immediately credited upon release.

The centralised Pension Payments System will be fully operational from January 2025.

The EPFO has confirmed about these changes vide circular no. Pension/V4/CPPS/Pilot/2024-Part(1)/efile-948434/2024-25/08, dated 17th January 2025.