16 Feb, 2015 10:30a.m.

EPFO Pension Scheme - proposal to hike age limit

The Employees' Provident Fund Organisation's trustees in a meeting on Thursday will consider a proposal to raise the age limit from 58 to 60 years for vesting of pension under the Employees' Pension Scheme (EPS-95).

At present, a formal sector worker covered under the EPS-95 can make contributions towards the pension scheme till the age of 58 years and can claim pension after that.

The Pension Implementation Committee (PIC) has recommended an increase in the age for vesting pension to 60 years, while suggesting that the actuary should be asked to develop a model to give incentive to those persons who opt for drawing pension at the age of 60 years.

Read more @ http://profit.ndtv.com/news/your-money/article-epfo-pension-scheme-age-limit-may-be-raised-739750



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