Employees’ Pension Scheme (EPS) went into force on November 16th, 1995. In order to receive a pension after they reach the age of 58, all employees who qualify for the Employees Provident Fund (EPF) scheme will also qualify for EPS enrollment. The programme offers monthly benefits for retirement or superannuation, disability, survivor, widow(er), and children, as well as in the event of disability. However, let’s find out how the beneficiaries can get the pension in the event of the death of an EPS 95 pensioner and what paperwork is needed for the same.
Documents required
In case of the death of an EPS 95 pensioner, beneficiaries can submit the documents listed below attached with the request letter or form, as per EPFO.
Death certificate of the pensioner
Aadhaar card copy of the beneficiaries
Bank account details of beneficiaries
Original cancelled cheque or attested copy of bank passbook of beneficiaries
Proof of age in case of minor
Also Read : How students should choose the right credit card, benefit from it
How much pension amount is payable to orphans under EPS 95?
As per EPFO, the pension amount is 75% of monthly widow pension, with minimum of ₹750 per month, each for two orphans at a time.
Pensions will be paid till 25 years of age of the orphans and pension will be paid lifelong if the orphan is suffering from any disability.
What are the benefits payable to parents/nominee under EPS’95?
As per EPFO, pension to nominee for entire life paid on death of member, in case there is no family, as defined under EPS 95.
Lifelong pension equal to monthly widow pension paid to dependent father/mother on death of the member provided there is no family or nominee of the member, said EPFO via a Tweet.
What are the benefits payable to widow/widower & children under EPS’95 in case of death of the member?
As per EPFO, when a member dies while in service, widow/widower is entitled for a minimum monthly pension of ₹1000.
In case of the death of the pensioner, pension to his or her widow/widower is 50% of the member’s pension.
According to a Tweet from EPFO, for children pension, pension amount equal to 25% of widow/widower pension to each child, subject to maximum 2 children at a time.
Children pension payable to two children at a time, till 25 years of age.
Towards EPF, 3.67% of basic salary and dearness allowance made by the employer contributions and towards EPS 8.33% of the basic salary and dearness allowance contributed by the employer. It results in 12% of the employee’s basic salary and dearness allowance (DA) being contributed by the employer and employee towards EPF.
Post your comment