MANU/PIBU/1038/2015

Department/Board : Press Information Bureau

Date : 10.08.2015

Employees Pension Scheme.

Government had constituted an Expert Committee to review Employees' Pension Scheme (EPS), 1995 which inter alia recommended providing minimum pension of Rs. 1000/- per month to the pensioners under EPS, 1995 and enhancing wage ceiling for coverage under the Employees' Provident Funds & Miscellaneous Provisions (EPF & MP), Act, 1952 from Rs. 6,500/- per month to Rs. 10,000/- per month. The Government has since implemented minimum pension of Rs. 1000/- per month to the member/disabled/widow/widower/ parent/nominee pensioners and Rs. 250/- per month for children pensioners and Rs. 750/- per month to orphan pensioners and increased wage ceiling for coverage under EPF&MP Act, 1952 from Rs.6,500 to Rs.15,000/.

The Employees' Pension Scheme (EPS), 1995 has been calibrated time to time to make it robust. Moreover, Government has recently made the following amendments to the EPS, 1995:

• Wage ceiling for contributions to EPS, 1995 has been enhanced from Rs.6,500 to 15,000/- per month.

• Determination of pension based on average of 60 months' salary prior to exit instead of 12 months' salary earlier.

• Option for contributing on salary exceeding the wage ceiling has been deleted.

• Those members who were contributing on salary exceeding the wage ceiling are required to prefer fresh option and contribute 1.16 per cent of wages exceeding wage ceiling in lieu of the Government's contribution.

• Pension and withdrawal benefits under EPS, 1995 to be determined on pro-rata basis for service at wage ceiling of Rs. 6,500/- per month upto 31.08.2014 and Rs. 15,000/- per month thereafter.

• Eligibility under EPS, 1995 is determined on the basis of contributory service instead of overall period of service.

• Widow Pension Table (Table C) under EPS, 1995 has been extended upto revised wage ceiling of Rs. 15,000/- per month.

The total number of pensioners under EPS, 1995 are 51,04,397 (Provisional) as on 31.3.2015.

The list of Nationalised Banks in which provision has been made for the retired employees drawing pension under Employees' Provident Fund Organisation (EPFO) is -

List of Pension Disbursing Agencies under Employees' Pension Scheme (EPS), 1995

S.No.	EPFO Regional Office	Pension Disbursing Banks
1	Delhi (North)	PNB, SBI, IB, UBI,  HDFC, ICICI, AXIS
2	Delhi (South)	PNB, SBI, IB, UBI,  HDFC, ICICI, AXIS
3	Dehradun	PNB, SBI
4	Gurgaon	PNB, SBI, HDFC, ICICI, AXIS
5	Faridabad	PNB, SBI, HDFC, ICICI, AXIS
6	Jaipur	PNB, Thar Gramin Bank, HDFC, ICICI, AXIS, SBBJ
7	Shimla	PNB, SBI, AXIS
8	Ludhiana	PNB, SBI, HDFC, AXIS
9	Chandigarh	PNB, SBI, HDFC, AXIS, ICICI
10	Bihar	PNB, BOI, HDFC
11	Meerut	PNB, SBI
12	Kanpur	PNB, SBI, HDFC, ICICI, AXIS
13	Hyderabad	SBI, UBI, AB, HDFC, AXIS, ICICI
14	Guntur	SBI, AB, HDFC, AXIS, ICICI
15	Nizamabad	SBI, SY. BANK, Gramin BANK, UBI, AB, AXIS
16	Bhuvneshwer	SBI, BOI, UCO Bank, HDFC, AXIS, ICICI
17	Bangalore	SBI, CANARA, SY. BANK, CORP. BANK, VIJAYA BANK, HDFC, AXIS, ICICI
18	Goa	SBI, BOI, HDFC
19	Gulbarga	SBI, CANARA, SY. BANK, ICICI, CORP. BANK
20	Mangalore	SBI, CANARA, SY. BANK, CORP. BANK, VIJAYA BANK, AXIS
21	Peenya	SBI, CANARA BANK, SY. BANK, CORP. BANK, HDFC, AXIS, ICICI
22	Coimbatore	SBI, IB, IOB, HDFC, AXIS, ICICI
23	Kerala	PNB, SBI, IB, IOB, CANARA, SY. BANK, FED. BANK, HDFC, AXIS, ICICI, North Malabar Gramin Bank, SBT
24	Madurai	SBI, IB, IOB, HDFC, AXIS, ICICI
25	Tambram	SBI, IB, IOB, HDFC, AXIS, ICICI
26	Chennai	SBI, IB, IOB, HDFC, AXIS, ICICI
27	Ranchi	PNB, BOI, UBI, HDFC, AXIS, ICICI
28	Jalpaiguri	SBI, UBI, UCO, CBI, UBKG BANK
29	Kolkata	PNB, UBI, HDFC, AXIS,ICICI
30	Guwahati	SBI, HDFC, AXIS, ICICI
31	Raipur	PNB, SBI, HDFC, AXIS, ICICI, CBI,
32	Bandra	PNB, SBI, BOI, HDFC, AXIS, ICICI, BOM, IB
33	Thane	PNB, SBI, BOI, HDFC, AXIS, ICICI
34	Kandivali	PNB, SBI, BOI, HDFC, AXIS,ICICI
35	Pune	PNB, SBI, BOI, HDFC, AXIS, ICICI, BOM
36	Nagpur	PNB, SBI, BOI, HDFC, AXIS, ICICI
37	Ahemdabad	SBI, DENA, HDFC
38	Surat	SBI, DENA, HDFC, AXIS, ICICI
39	Vadodara	SBI, DENA, HDFC
40	Indore	PNB, SBI, HDFC, AXIS, ICICI

This was stated by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment in response to a written question in Lok Sabha today