Industry And Cluster
EPFO gave a gift to 6.3 lakh people, now can withdraw all the money together.
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Author: DISHA PRAFUL SUKHANI
The EPFO has approved the proposal to re-establish a lump-sum arrangement (Commutation) in the amount of pension (Pension) under the Employees’ Pension Scheme (EPS). 6.3 lakh pensioners will be benefited According to the statement of EPFO, the Central Board of Trustees (CBT), the apex decision making body of EPFO in a major decision, took a lump sum under the Commutation in a meeting held in Hyderabad on 21 August 2019. Approved the proposal to amend EPS-95 to restore the pensioner’s full pension after 15 years. This will benefit 6.3 lakh pensioners.