India's central government has implemented the Employees' Pension Scheme (EPS) 2026, replacing the 1971 and 1995 schemes. While the pension calculation formula remains unchanged, new rules address fund investment, digital compliance, and offer 12% interest for delayed claims.
The Employees' Pension Scheme (EPS), 2026, introduces significant changes for EPF members, including a 36-month waiting period for withdrawal benefits and faster claim settlement. Existing members will continue seamlessly under the new scheme.
The new Employees' Pension Scheme (EPS), 2026, replaces EPS-1995 and EPS-1971. It maintains the existing pension calculation formula and a pensionable salary based on the average of the last 60 months' earnings. A minimum monthly pension of Rs 1,000 is assured, and service years are enhanced by two years for those with 20+ years of contribution.
India has introduced the Employees' Pension Scheme (EPS), 2026, replacing the EPS, 1971, and EPS, 1995. The minimum pension limit remains Rs 1,000, and the calculation formula is unchanged, based on pensionable salary and service.
The Employees' Pension Scheme (EPS), 2026, has replaced the EPS, 1971, and EPS-95, effective June 29, 2026. While core benefits like the pension formula and contributions remain, key changes include faster pension claim settlements within 20 days and a 12% interest penalty for EPFO delays.
