NEW DELHI: The Employees’ Pension Scheme (EPS-95), which provides social security benefits to workers during their old age, continues to play a pivotal role in ensuring financial stability for pensioners and their families.
As of the financial year 2023-24, the scheme has benefitted a total of 78,49,338 pensioners, a significant rise from 66,82,717 pensioners in 2019-20.
Union Minister of State for Labour & Employment, Sushri Shobha Karandlaje, in a written reply in the Lok Sabha, outlined the various pension and withdrawal benefits available under the EPS-95.
The scheme covers a wide range of contingencies, ensuring comprehensive social security protection for its members.
Key pension categories under EPS-95 include:
Member Pension: Provided to members upon superannuation at the age of 58 years.
Early Member Pension: Available from the age of 50 years.
Disability Pension: Granted for permanent and total disablement during service.
Widow/Widower Pension: Given on the death of the member or pensioner.
Children Pension: For up to two children until the age of 25, in case of the member’s death.
Orphan Pension: Provided to two orphans until the age of 25 in the event of both the member and their spouse’s death.
Disabled Children/Orphan Pension: Lifelong pension for a disabled child or orphan.
Nominee Pension: Paid for life to a person nominated by the member if there is no family.
Dependent Parent Pension: For dependent parents in the absence of a family or nominee.
Withdrawal Benefit: Available when a member exits the service or attains superannuation without having earned pension eligibility.
The number of pensioners under EPS-95 has steadily increased over the past five years:
2019-20: 66,82,717
2020-21: 69,19,823
2021-22: 72,73,898
2022-23: 75,58,913
2023-24: 78,49,338
These benefits ensure a safety net for millions of workers and their families, reaffirming the government’s commitment to social security and welfare.
