Govt Amends Employees’ Pension Scheme To Provide Withdrawal Benefits To Members With Less Than Six Months Of Contributory Service

The Government has amended the Employees’ Pension Scheme to ensure that EPS members with less than six months of contributory service also receive withdrawal benefit. This amendment will benefit more than seven lakh EPS members every year who leave the scheme with less than six months of contributory service.

The Central Government has modified the Table D and has ensured that every completed month of service rendered is taken



into account to give proportionate withdrawal benefit to the members. The amount of withdrawal benefit will depend upon the number of completed months of service rendered by the member and the wages on which EPS contribution was received. Labour Ministry said the measure has rationalized the payment of withdrawal benefits to members. More than 30 lakh withdrawal benefit claims were settled in 2023-24.