EPFO members can fix pension without employers' attestation

EPFO members can fix pension without employers' attestation

NEW DELHI: Retirement fund body EPFO has introduced a simplified Universal Account Number based form, 10-D, for its subscribers for fixing their pension without employers' attestation.

At present, the subscribers seeking pension under the Employees' Pension Scheme 1995 has to get his pension claim application attested from the employer to fix the retirement benefit after superannuation.

"A simplified UAN-based pension claim Form 10-D-UAN has been introduced," the Employees' Provident Fund Organisation (EPFO) said in press release.

According to statement, the claim form can be used by members whose AADHAR number and bank details have been seeded in the Universal Account Number (UAN) and have been duly verified by the employer using digital signature and the employee details are available in Form 11 (New).

The new form does not require attestation by employer and can be submitted directly to concerned EPFO offices.

So far, more than 7.34 crore UAN have been allotted to EPF members.

The body also talked about implementation of its earlier decision of providing higher pension to those subscribers deferring pension beyond the age of 58 years.

It said, "EPF members now have an option to enhance their pensionary benefits. The benefits are available to those members who opt to defer their pension beyond 58 years up to 60 years of age with or without contribution after the age of 58 years.

The option when exercised increases original pension by 4 per cent in case of completion of one year and 8.16 per cent in case of completion of 2 years after 58 years. When members opt to defer the pension with contribution, the additional contributory service after 58 years of age will be included while calculating pensionable service and pensionable salary."

The members who have completed at least 10 years of pensionable service on attaining the age of 58 years, are eligible for this option.

Source | Economic Times | 19 August 2016

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