For retirees, there is good news. The Central Government is providing you with a special facility if you also want to receive a larger pension, at which point your monthly pension payment would rise. If you want extra money in your account, you still have a few days left to apply for the Higher Pension Scheme, which is available to those who qualify until June 26. More than 12 lakh people have already applied for this.

EPFO provided details.

Giving information, EPFO stated that none of its staff should encounter any issues. It has been decided to launch the Higher Pensions Scheme as a result. The Supreme Court issued a significant ruling about enhanced pensions on November 4, 2022. It was required to select a different choice for this within four months.

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Let us inform you that if you choose the higher pension choice, your monthly pension will rise even though your total retirement income may fall. According to experts, there are benefits and drawbacks to this plan. If you just have a few years left on your contract, you should concentrate on getting a lump sum of money.

How to apply for a higher pension

• In order to receive a higher pension, one must first visit the e-seva webpage.
• Click Pension on Higher Salary after that.
• You’ll now arrive at a new page with two choices
• If you plan to retire before September 1, 2014, you must select the first option
• otherwise, if you’re still working, you must choose the second.
• There are required fields for UAN, name, birthdate, Aadhaar, and cellphone.
• Your Aadhaar-linked cellphone number will now receive an OTP, which must be input.

The pension was raised last week for 2014.

Last Monday, EPFO made the specifics of its procedure public. The Employees’ Pension Scheme (EPS) allows the shareholders and their employers to submit a joint application for a greater pension. The Employees Pension Scheme, 2014 was upheld by the Supreme Court in November 2022. Earlier, the pensionable salary ceiling was raised from Rs. 6,500 to Rs. 15,000 per month by the EPS adjustment of August 22, 2014. Additionally, 8.33 percent of members’ actual salaries could be contributed by their employers and themselves to the EPS. To its field offices, EPFO has sent a circular on this.

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