The Centralized Pension Payment System (CPPS) under the Employees’ Provident Fund Organization (EPFO) has been successfully implemented across the country with 100% efficiency. In a historic step towards enhancing pension payment services, EPFO has simultaneously disbursed pensions to over 68 lakh pensioners across all 122 pension-disbursing regional offices under the Employees’ Pension Scheme 1995 in December 2024.
This Step is a Milestone: Mansukh Mandaviya
A total pension amount of Rs 1570 crore has been successfully transferred to pensioners. Union Labor and Employment Minister Dr. Mansukh Mandaviya announced the success of the new EPFO pension system, calling the full implementation of the Centralized Pension Payment System (CPPS) in all regional offices a significant milestone.
Transforming the Pension Distribution Process
The CPPS initiative allows pensioners to receive their pensions from any bank or branch across the country, eliminating the need for physical verification and simplifying the pension distribution process.
Exciting Update for EPFO Pensioners!
Introducing the Centralized Pension Payment System (CPPS) – a major upgrade in pension disbursement across India!
To know more watch : https://t.co/EW4MZ26NdD#EPFOservices #EPFOwithYou #HumHainNaa #EPFO #EPF #ईपीएफओ #ईपीएफ #pension… pic.twitter.com/tKsNpYNZL3
— EPFO (@socialepfo) January 3, 2025
Setting a New Benchmark in Pension Payment
Mandaviya stated that CPPS reflects the government’s commitment to modernizing EPFO services, ensuring convenience, transparency, and efficiency for pensioners. “We are setting a new benchmark in the direction of pension payment,” he added.
Successful Pilot Programs
The first CPPS pilot was completed in October 2024 across regional offices in Karnal, Jammu, and Srinagar, where pension payments of around Rs 11 crore were made to over 49,000 pensioners. In November 2024, a second pilot was conducted in 24 regional offices, distributing Rs 213 crore in pensions to more than 9.3 lakh pensioners.
Remember to seed your UAN with your Aadhaar to take advantage of the upcoming Employment Linked Incentive (ELI) Scheme, a Government of India initiative to boost employment and job creation in the country.#eli #aadhaar #EPFO #HumHainNaa #EPFOwithYou #ईपीएफओ #ईपीएफ@mygovindia… pic.twitter.com/SZsGDxmT7V
— EPFO (@socialepfo) January 6, 2025
No Need for Bank Verification Going Forward
Under CPPS, each regional office partners with just 3-4 banks, allowing pensioners to receive their pension from any participating bank. The process eliminates the need for physical verification, with the pension being deposited immediately once it is released (EPFO Update).
Benefits of CPPS Starting January 2025
From January 2025, CPPS will ensure pension distribution across the country without the need for transferring Pension Payment Orders (PPOs) between offices. This system will also allow pensioners to move or change their bank accounts without complications, offering great convenience for those relocating after retirement.