June 2, 2020 9:51 AM

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EPFO releases 868 crore rupees pension along with 105 crore rupees arrears

<span style="color: #222222;">Employees' Provident Fund Organization (EPFO) has released   868 crore rupees pension along with 105 crore rupees arrears on account of restoration of commuted value of pension. Ministry of Labour and Employment said that on the recommendation of Central Board of Trustees, the government has accepted one of the long standing demands of workers to allow restoration of commuted value of pension after 15 years.<br />'' <br />'' Earlier, there was no provision for restoration of commuted pension and the pensioners continued to receive reduced pension on account of commutation lifelong. The Ministry has termed it  a historical step for the benefit of pensioners under Employees' Pension Scheme.<br />'' <br />'' The EPFO has more than 65 lakhs pensioners catered through its 135 regional offices. EPFO officers and staff battled all odds during this COVID-19 lockdown period and processed pension payment for May, 2020 to ensure credit of pension in the bank account of pensioners on schedule.</span> <br />

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