EPFO starts Centralized Pension Across India, Now Pensioners can access their pensions from any bank or branch
The Employees’ Provident Fund Organisation (EPFO) has fully implemented the Centralized Pension Payments System (CPPS) across all its regional offices in India, marking a major milestone in pension service delivery. In December 2024, EPFO disbursed approximately ₹1,570 crore in pensions to over 68 lakh pensioners under the Employees’ Pension Scheme 1995.
A Landmark Initiative
Union Minister Dr. Mansukh Mandaviya hailed the rollout as a transformative step toward modernizing EPFO services. Speaking on the occasion, he said:
“The Centralized Pension Payments System (CPPS) empowers pensioners to access their pension seamlessly from any bank, any branch, anywhere in the country. This system eliminates the need for physical verification visits and simplifies the pension disbursement process. CPPS is a testament to our commitment to ensuring convenience, transparency, and efficiency for our pensioners.”
From Pilot to Nationwide Implementation
The journey to full-scale implementation began with pilot programs:
- October 2024: Pilots conducted in Karnal, Jammu, and Srinagar regional offices disbursed ₹11 crore in pensions to over 49,000 pensioners.
- November 2024: Expanded pilot covered 24 regional offices, distributing ₹213 crore in pensions to more than 9.3 lakh pensioners.
Key Features of CPPS
The CPPS replaces the old decentralized pension system, bringing several benefits:
- Any Bank, Any Branch: Pensioners can access their pensions from any bank or branch nationwide.
- No Physical Verification: Pensioners no longer need to visit banks for verification during pension commencement.
- Immediate Credit: Pensions are directly credited upon release, ensuring timely payments.
- Seamless Transfers: Pension Payment Orders (PPOs) no longer require transfer when pensioners move or change banks or branches, providing significant relief for retirees relocating to their hometowns.
Nationwide Impact from January 2025
Starting January 2025, the CPPS will ensure uniform pension disbursement across the country without geographical or banking limitations. This initiative aligns with the government’s vision of a technology-driven, member-centric EPFO that prioritizes pensioner convenience.
A Step Toward Improved Pension Services
EPFO continues to work on enhancing its services for pensioners. The CPPS system represents a major reform aimed at making pension disbursement seamless, efficient, and hassle-free for millions of EPS pensioners across India.
