EPFO rolls out centralised pension payment systems across India
Fund Organisation Friday said it has fully rolled out the Centralized Pension Payments System (CPPS) under Employees’ Pension Scheme 1995, enhancing the ease of living for millions of pensioners in the country.
ET Year-end Special Reads
Stocks to buy in 2025: 66 ideas from top brokerages for your new year portfolio
What does 2025 hold for India's IT services sector?
2025 may be the year of EVs in India, dominated by SUV launches
“Under this, pensioners can access their pension seamlessly from any bank, any branch, anywhere in the country. It eliminates the need for physical verification visits and simplifies the pension disbursement process,” the ministry said in a statement.
The move is expected to benefit over 7.85 million.
The CPPS system would also ensure disbursement of pension throughout India without any need for transfer of pension payment orders (PPO) from one office to another even when the pensioner moves from one location to another or changes his bank or branch. “This would be a great relief to pensioners who move to their hometown after retirement,” it said.
“The full-scale implementation of the Centralized Pension Payments System (CPPS) across all regional offices of EPFO is a historic milestone. It is a testament to our commitment to modernizing EPFO services and ensuring convenience, transparency, and efficiency for our pensioners,” labour and employment minister Mansukh Mandaviya said.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT
