NEW DELHI: Members of the EPS Pension Scheme (1995) will get their pension from January 1, 2025 through any branch of any bank in the country. This is with the introduction of the Centralized Pension Payment System (CPPS) for the Employees’ Pension Scheme. More than 78 lakh EPS pensioners will benefit.

Pension Payment Orders (PPOs) need not be transferred from one office to another in case the retiree changes location, bank or branch. A retiree can get pension from anywhere in India. Those returning home after retirement will also be relieved. No need to visit the branch for identification verification at the time of retirement. The pension will be credited as soon as it is released. EPFO also expects the cost of pension distribution to come down.

The facility will be operational on January 1, 2025 as part of EPFO's IT modernization drive, Centralized IT Enabled System. There will be a shift to Aadhaar-based payment in the next step.