New Delhi, January 3
Employees Provident Fund Organization (EPFO) pensioners will now be able to withdraw their pension from any bank. Retirement Fund Organization EPFO has completed the implementation of centralized pension payment system in its regional offices across the country. The Ministry of Labor said that this initiative of EPFO will benefit more than 68 lakh pensioners. Under this arrangement, the beneficiaries i.e. pensioners will now be able to withdraw their pension from any bank and they will not need to go to any bank for verification at the time of starting the pension and the amount will be credited immediately after the release. The statement said that from January 2025, the CPPS system will ensure pan-India pension details and transfer of pension payment orders (PPOs) from one office to another, even if pensioners move elsewhere or change their bank or branch. will not be required. This will provide great relief to those pensioners who move to their hometown after retirement. -News-Patiala
