EPFO board recommends extending proportionate pension benefits to members

Decision to extend pension scheme beyond 35 years of service taken in 232nd CBT meet on Monday; withdrawal benefits available even to those who've contributed for less than six months

The Central Board of Trustees (CBT) of the Employee Provident Fund Organisation (EPFO) has recommended extending the proportionate pension benefits to members of the Employee's Pension Scheme (EPS) for service beyond the stipulated 34 years at present.

The decision on the extension of the pension scheme from “less than 35 years” of service to “less than 42 years” of service was taken in the 232nd CBT meeting held on Monday under the chairmanship of Union Labour Minister Bhupender Yadav.

It was also decided to extend the withdrawal benefits to members even if the person has contributed for less than six