GUWAHATI: The Employees’ Provident Fund Organisation (EPFO) has revolutionised its pension disbursement process with the implementation of a Centralised Pension Payments System (CPPS) across all its regional offices in India. This transformative development is set to benefit over 68 lakh pensioners by enhancing efficiency and convenience in accessing their pensions.
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The CPPS replaces the earlier decentralised system, under which regional offices had separate agreements with a limited number of banks for pension disbursement. The new centralised framework enables pensioners to receive their pensions from any bank or branch nationwide, offering unprecedented flexibility and accessibility.
A key feature of the CPPS is the elimination of physical verification visits when a pension commences. Pension amounts will be credited directly to the pensioner’s bank account promptly upon release. This streamlined approach is expected to save time and effort for pensioners, particularly senior citizens, by removing the need for cumbersome manual processes.
Starting in January 2025, the CPPS will ensure uninterrupted pension payments regardless of a pensioner’s location. It eliminates the requirement to transfer pension payment orders (PPOs) between offices when pensioners move or change banks. This enhancement is particularly beneficial for retirees relocating to their hometowns or other areas post-retirement, ensuring they can access their pension seamlessly and without delays.
