The Ministry of Labour & Employment on January 3rd 2025 notified regarding the Centralized Pension Payments System fully rolled out in all regional offices of EPFO across India.
This transformative initiative, fully implemented by January 2025, promises a seamless pension disbursement experience for millions of pensioners across the country.
Key Highlights of the CPPS Rollout:
Pension Disbursed Nationwide: In December 2024 alone, EPFO disbursed approximately Rs. 1570 Crore in pensions to over 68 lakh EPS pensioners from all 122 pension disbursing regional offices of EPFO.
Smooth Transition with Successful Pilots: The new system underwent two successful pilot phases prior to its nationwide launch. The first pilot in October 2024 saw a disbursement of Rs. 11 Crore to more than 49,000 pensioners in Karnal, Jammu, and Srinagar. The second pilot, held in November 2024, successfully processed around Rs. 213 Crore for more than 9.3 lakh pensioners in 24 regional offices.
Easy Access to Pension for All: The CPPS empowers pensioners to access their pensions from any bank, anywhere in India. This eliminates the need for pensioners to visit specific branches or offices for verification, providing them with greater flexibility and ease of access to their funds.
No Need for Physical Visits: A standout feature of CPPS is that pensioners no longer need to visit the bank for verification during pension commencement. Pensions will be credited immediately upon release, simplifying the entire process.
Efficient Pension Management Across Locations: With CPPS, pensioners will no longer need to transfer their Pension Payment Orders (PPO) when moving to a different location or changing their bank or branch. This system ensures pension continuity, no matter where a pensioner moves, making it especially beneficial for those who retire and return to their hometowns.
A Game-Changing Reform in Pension Disbursement
Union Minister Dr. Mansukh Mandaviya highlighted the significance of this development, emphasizing that the CPPS is a “historic milestone” in the modernization of EPFO services. He further added, “This transformative initiative empowers pensioners to access their pensions seamlessly from any bank, any branch, anywhere in the country. It eliminates the need for physical verification visits and simplifies the pension disbursement process.”
With the rollout of the Centralized Pension Payments System (CPPS), EPFO is setting a new standard for pension service delivery in India. By moving to a centralized and digital model, the system aligns with the government’s vision of a tech-enabled, member-centric EPFO and ensures that pensioners receive their dues in a timely, hassle-free manner.
What Does This Mean for Pensioners?
For millions of pensioners across India, this reform brings multiple advantages:
- No more waiting for PPO transfers: No need to worry about relocating or shifting bank accounts. The system ensures pensions continue uninterrupted, regardless of geographical changes.
- Access to pensions at any bank: Pensioners are now free to access their funds from any bank and branch across the country, making it much more convenient, especially for retirees who relocate.
- Instantaneous pension credits: No more waiting for physical verification visits to commence pension payments. The new system ensures that pensions are credited instantly after release.
