EPFO has issued a circular on Wednesday, stating that such cases will be reviewed who retired before September 1, 2014 and have not subscribed to the facility of pension on higher pay. EPFO cited excerpts from the November 2022 judgment of the Supreme Court in support of its proposal.
EPFO Higher Pension 2023: There is big news for thousands of pensioners of Employees Provident Fund Organization (EPFO). There may be a reduction in the pension amount of 25000 pensioners from January. In this regard, EPFO has taken a big step regarding EPS-95. If media reports are to be believed, EPFO has issued a circular saying that from January 2023, higher pension should be banned for pensioners who retired before 2014.
EPFO’s circular issued
According to media reports, the Retirement Fund Organization has instructed its local authorities to stop paying higher pensions to pensioners who retired before 2014. The additional amount given to them under this arrangement should also be recovered. EPFO has issued a circular on Wednesday, stating that such cases will be reviewed who retired before September 1, 2014 and have not subscribed to the facility of pension on higher pay.
These employees may get a shock
According to the circular sent to the regional offices of EPFO, all those employees who have retired before September 1, 2014 and those who are getting pension on higher pay will be re-examined, due to which the payment of pension has been stopped. can go. EPFO cited excerpts from the November 2022 judgment of the Supreme Court in support of its proposal. The EPFO has said in the circular that whether the person who retired before September 1, 2014 had exercised the option under para 11(3) of the EPS.
Pension will be amended like this
EPFO has said in the circular that from January 2023, the higher pension of such pensioners should be banned and their pension will be revised on the basis of salary of Rs 5,000 or Rs 6500. EPFO in this circular has referred to paragraph 11(3) of EPS-95 which talks about what should be the maximum pensionable salary of an employee. Advance notice should be given to the pensioner before the pension is revised.
