Lok Sabha Question No. 1934 (UNSTARRED), answered on 2023-03-13
Subject: Implement of EPS-95 Pension Scheme
Ministry: LABOUR AND EMPLOYMENT
Asked by: Kumbakudi Sudhakaran

## GOVERNMENT OF INDIA MINISTRY OF LABOUR AND EMPLOYMENT

## LOK SABHA

## UNSTARRED QUESTION NO. 1934 TO BE ANSWERED ON 13.03.2023

## IMPLEMENT OF  EPS-95  PENSION  SCHEME

## 1934. SHRI KUMBAKUDI SUDHAKARAN:

Will  the Minister of LABOUR  AND EMPLOYMENT be pleased to state:

- (a) whether the Government has directed the EPFO to implement the EPS-95  pension  scheme  for  retired  employees,  as  per  the  recent judgment of the Hon'ble Supreme Court on November 2022;
- (b) if  so  the,  details  thereof  including  the  exact  time  required  for  the implementation of the scheme and if not,  the reasons  therefor;
- the  date  from  which  the  retired  employees are  likely  to  receive the  revised  pension,  calculated on the basis of their service during
- (c) the entire membership period;
- (d) whether  the  revised  pension  amount  will  be  applicable  for  the employees who retired before 2014 and had been members of the EPS-95  pension scheme, if so, the  details thereof; and
- (e) the  total  number  of  retired  employees  covered  under  the  scheme who  will  receive  the  revised  pension,  calculated  on  the  basis  of their  service during the entire membership period?

## ANSWER

## MINISTER OF STATE FOR LABOUR AND EMPLOYMENT (SHRI RAMESWAR TELI)

(a) to (d): As  per  directions  contained  in  paragraph  44(ix)  read  with paragraph  44(v)  and  44(vi)  of  the  Hon'ble  Supreme  Court  judgment dated  04.11.2022,  online  applications  were  called  by  Employees' Provident  Fund  Organisation  (EPFO)  on  29.12.2022  from  pensioners who had retired before 01.09.2014 and had exercised joint option for contributing in pension fund on salary exceeding wage ceiling before their retirement but whose joint options were rejected by the EPFO (on account  of  cut-off  date).  Joint  options  for  this  category  of  retirees were to be filed on or before 03.03.2023.

Further,  as  per  directions  contained  in  paragraph  44(iii)  & paragraph 44 (iv) read with paragraph 44(v) of the judgment of Hon'ble Supreme  Court  dated  04.11.2022,  instructions  have  been  issued  by EPFO  on  20.02.2023  for  online  joint  options  to  be  filed  by  the employees who were in service prior to 01.09.2014 and continued to be in service on or after 01.09.2014 but could not exercise joint option under  erstwhile  proviso  to  paragraph  11(3)  of  Employees'  Pension Scheme (EPS), 1995. Joint options for this category of employees can be filed on or before 03.05.2023.

Further, the implementation of the judgment of the Hon'ble Supreme Court is being examined. It has legal, financial, actuarial and logistical implications. All pension funds have to be sustainable for the future generations therefore, in larger public interest and that of social security  it  is  imperative  that  the  pension  funds  are  kept  in  good financial health so that pension payment liabilities in future are met.

(e): The number of retired employees covered under the scheme  will  depend  on  the  number  of  online  applications  /  joint options filed by them. Last date to submit joint option is 03.05.2023.

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