EPFO Pension Rules : Double the pension benefit

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Pension Withdrawal Process: If you are an EPFO ​​member, you should be aware of these five pension-related changes. These changes affect your pension.

EPFO Pension Rules: If your PF is deducted, this news is very useful for you. Actually, EPFO ​​has changed some pension-related rules, which you should be aware of. Today, we are going to tell you about five changes that will affect your retirement reimbursement. Let’s learn about those changes.

Changed Pension Calculation Rules
The Employees’ Provident Fund Organization (EPFO) has changed the rules for calculating pensions. This change is very beneficial for pensioners. Previously, pensions were calculated based on the last salary drawn, but now they will be calculated based on the average salary of 5 years.

The pension withdrawal age has been changed.

The previous age for pensionwithdrawals was 58 years, but this has now been reduced to 50. Individuals wishing to receive their pension early can apply at age 50. Please note that early retirement reduces the pension amount.

Claim your pension online
The EPFO ​​continues to update its services for employees to ensure that employees receive their pensions without any difficulties. Consequently, all pension claim processes, such as filling out forms, uploading documents, and obtaining approval, can be completed through the EPFO ​​website or mobile app. Previously, this process used to involve long queues.

No loss of pension due to job changes
The EPFO ​​has clearly stated that if an employee changes jobs, their pension will not be lost. Their old record will be linked to the new company, allowing them to continue receiving their pension.

Pension limit also increased
EPFO has also increased the maximum pension limit. Previously, this limit was ₹7,500, which has now been increased to ₹15,000. Therefore, if you have a high salary, you can receive a maximum pension of ₹15,000 after retirement. It’s worth noting that many of these changes are old, but pensioners should be aware of them.

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