1 month ago
EPS 2026: Pensioners to retain benefits under new scheme
The Indian government has clarified that pensioners under the Employees' Pension Scheme (EPS) 1995 and the Employees' Family Pension Scheme (EFPS) 1971 will continue to receive their benefits under the new Employees' Pension Scheme (EPS) 2026.
This new scheme, effective from June 29, 2026, protects all accrued pension rights of existing beneficiaries.
The pension calculation formula, minimum pension, and contribution rates remain unchanged.
The new scheme also introduces digital pension disbursement through approved agencies and aligns with the Code on Social Security, 2020.
This clarification brings relief to pensioners and helps with retirement planning.
Pensioners under EPS 1995 and EFPS 1971 will continue to receive benefits under EPS 2026.
The new scheme protects all accrued pension rights of existing beneficiaries.
The pension calculation formula, minimum pension, and contribution rates remain unchanged.
EPS 2026 introduces digital pension disbursement through approved agencies.
The new scheme aligns with the Code on Social Security, 2020.
- Who
- Pensioners under EPS 1995 and EFPS 1971
- What
- Continuation of pension benefits under EPS 2026
- Where
- India
- When
- Effective from June 29, 2026
- Why
- To modernize and improve pension administration while protecting existing benefits
Pensioners' Concerns
Government Clarification
Continuation of Benefits
Pensioners' Concerns
Pensioners were concerned about the continuation of their benefits under the new scheme.
Government Clarification
The government clarified that all accrued pension rights of existing beneficiaries will be protected under EPS 2026.
Pension Calculation
Pensioners' Concerns
Pensioners were unsure about changes in the pension calculation formula.
Government Clarification
The government confirmed that the pension calculation formula, minimum pension, and contribution rates remain unchanged.
Key facts
- Effective Date
- June 29, 2026
- Pension Calculation Formula
- (Pensionable Salary × Pensionable Service) ÷ 70
- Pensionable Salary
- Average monthly salary of the last 60 months
- New Feature
- Digital pension disbursement through approved agencies
- Legislation
- Code on Social Security, 2020
Quotes
Shobha Karandlaje
Minister of State for Labour and Employment
“The new EPS 2026 protects all accrued pension rights of existing beneficiaries while replacing the earlier EFPS 1971 and EPS 1995 schemes”
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Sources
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