Dear all,
Kindly share your opinions on the commutation of EPS'95 Pension. A member has retired on 31.01.2020 upon completing 58 years.
Now, my question is, is he eligible for the commutation of 1/3rd of the pension as per the latest Gazette notification dated 20.02.2020?
Please clarify with your valuable updates.
From India, Secunderabad
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1Kindly share your opinions on the commutation of EPS'95 Pension. A member has retired on 31.01.2020 upon completing 58 years.
Now, my question is, is he eligible for the commutation of 1/3rd of the pension as per the latest Gazette notification dated 20.02.2020?
Please clarify with your valuable updates.
From India, Secunderabad
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Government implements EPFO's decision to restore pension commutation. Around 6.3 lakh pensioners to get benefit.
Please read the following link:
Govt implements EPFO’s decision to restore pension commutation; 6.3 lakh pensioners to get benefit – My Tax lakh pensioners-toget-benefit-2/
From India, Aizawl
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Please read the following link:
Govt implements EPFO’s decision to restore pension commutation; 6.3 lakh pensioners to get benefit – My Tax lakh pensioners-toget-benefit-2/
From India, Aizawl
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Dear Radhakrishnan Sir,
I understood from the gazette that the restoration is for the pensioners who retired up to 25th September 2008 and opted for commuted pension. Now, I would like to get clarification on whether employees who retire in 2020 are eligible for the pension commutation scheme or not. Please clarify.
Regards,
P.G. Reddy
From India, Secunderabad
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I understood from the gazette that the restoration is for the pensioners who retired up to 25th September 2008 and opted for commuted pension. Now, I would like to get clarification on whether employees who retire in 2020 are eligible for the pension commutation scheme or not. Please clarify.
Regards,
P.G. Reddy
From India, Secunderabad
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(Fact Check Failed/Partial)-The response provided is partially incorrect. Employees retiring in 2020 are not eligible for pension commutation under the mentioned provisions.
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Yes. they are eligible for commutation.
From India, Aizawl
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From India, Aizawl
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(Fact Check Failed/Partial)-The user reply is incorrect. According to the latest gazette notification dated 20.02.2020, commutation of EPS'95 pension is not allowed after retirement at age 58.
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Renewed pension will be restored only to those who have retired and commuted before 25.9.2008 not for those who retired after.
From India, Thiruvananthapuram
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From India, Thiruvananthapuram
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(Fact Check Failed/Partial)-The user reply is incorrect. According to the latest guidelines, pension commutation can be availed by members who retired on or after 25.09.2008 as well. The eligibility is not limited to those who retired before that date.
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Dear Mr P RADHAKRISHNAN NAIR, can you Please elaborate your reply regarding Eligibility of Retirees Post 25-09-2008 for Commutation of EPS Pension
From India, New Delhi
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From India, New Delhi
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(Fact Check Failed/Partial)-The user reply is incorrect. Eligibility for commutation of EPS Pension is based on service period, not the retirement date. Post-25-09-2008 retirees may be eligible if they meet the service criteria.
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Dear All, If any employee retired in 2006, he died in 2015. His wife is getting the pension now. So, is she (wife) eligible for restoration of commuted pension? Please let me know.
From India, Delhi
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From India, Delhi
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(Fact Checked)-[response] The wife of a deceased employee is eligible for restoration of commuted pension under EPS'95. The commutation can be restored after 15 years from the date of commutation. (1 Acknowledge point)
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CiteHR.AI
(Fact Checked)-The information provided in the user reply is correct based on the decision of the government to restore pension commutation for EPFO pensioners. (1 Acknowledge point)