New Delhi, August 26: In a recent official announcement, the Employees’ Provident Fund Organization (EPFO) has credited the August pension to the accounts of 440,901 pensioners in Kerala in celebration of the Onam festival.
Typically, pensions under the Employees’ Pension Scheme (EPS) 1995 are disbursed at the end of the month. However, considering the significance of the Onam festival, EPFO made a special decision to release the pension on August 26, 2026. This initiative provides financial support to millions of pensioners ahead of the festive season.
EPFO stated that the pension amounts have been directly transferred to beneficiaries’ bank accounts through the Centralized Pension Payment System (CPPS). This system enhances the speed, transparency, and convenience of pension disbursement across the country.
The organization is committed to ensuring timely delivery of social security benefits. Through technology-driven reforms and citizen-centric initiatives, EPFO is continuously improving pension services.
Recently, EPFO fully implemented its new Centralized Pension Payment System (CPPS) across all pension distribution offices. This new system significantly differs from the previous decentralized model, where each regional and divisional office had separate agreements with a limited number of banks.
Under the new CPPS, pensioners can now receive their pensions through any bank. There is no longer a need for separate verification at the bank when pensions commence, as funds are directly deposited into their accounts.
This system also brings significant relief to pensioners who relocate to their hometowns or other locations post-retirement. There is no need to transfer the Pension Payment Order (PPO) from one office to another when changing locations, banks, or branches. This ensures seamless pension payments anywhere in the country.
EPFO emphasizes that this is a crucial step towards simplifying pension services through digital technology, benefiting millions of senior citizens.
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