National

EPFO releases restored pension

In a statement, the EPFO said it had disbursed ₹868 crore in pensions as well as ₹105 crore in arrears on account of the restoration of the commuted value of pension.

The Employees’ Provident Fund Organisation (EPFO) on Monday said it had disbursed enhanced amounts on account of restored pensions for those who had opted for commutation at the time of retirement in place of a lump sum.

In a statement, the EPFO said it had disbursed ₹868 crore in pensions as well as ₹105 crore in arrears on account of the restoration of the commuted value of pension. The government had decided earlier this year to restore the full pensions from May.

“On the recommendation of the Central Board of Trustees (EPFO), the Government of India accepted one of the long-standing demands of workers to allow restoration of the commuted value of pension after 15 years,” it said.

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Printable version | Jul 12, 2020 8:17:37 AM | https://www.thehindu.com/news/national/epfo-releases-restored-pension/article31726147.ece

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