New Delhi, Mar 10
The Employees’ Pension Scheme (EPS-95) provides comprehensive social security benefits to ensure financial stability for members and their families during old age or unforeseen contingencies. The scheme offers various types of pensions and withdrawal benefits, including:
- Member Pension upon superannuation at 58 years of age.
- Early Member Pension from 50 years of age.
- Disability Pension in case of permanent and total disablement during service.
- Widow/Widower Pension upon the death of the member or pensioner.
- Children Pension for two children at a time until 25 years of age in case of the member’s death.
- Orphan Pension for two orphans at a time until 25 years of age if there is no surviving spouse.
- Disabled Children/Orphan Pension, which is provided for life in case of a disabled child/orphan.
- Nominee Pension, paid for life to a nominated person if there is no family as per EPS-95 guidelines.
- Pension to Dependent Parents if there is no surviving family or nominee.
- Withdrawal Benefit upon exit from service or superannuation, provided the member has not met the eligibility criteria for a pension.
The number of pensioners under EPS-95 has steadily increased over the years:
- 2019-20: 66,82,717 pensioners
- 2020-21: 69,19,823 pensioners
- 2021-22: 72,73,898 pensioners
- 2022-23: 75,58,913 pensioners
- 2023-24: 78,49,338 pensioners
This information was provided by Union Minister of State for Labour & Employment, Sushri Shobha Karandlaje, in a written reply in Lok Sabha.
(Source: PIB)
