The Employees’ Provident Fund Organisation (EPFO) has successfully rolled out its Centralized Pension Payments System (CPPS) across all regional offices in the country, a move set to benefit over 68 lakh pensioners.
This milestone, announced by the Ministry of Labour on Friday, marks a significant shift in pension disbursement operations and is expected to simplify the pension withdrawal process for beneficiaries.
EPFO’s Centralized Pension System
The CPPS replaces the existing decentralized pension system, where each regional or zonal office maintains separate agreements with a limited number of banks.
Under the new system, pensioners will no longer need to visit their bank for verification at the start of their pension disbursement. Instead, the system allows beneficiaries to withdraw their pensions from any bank branch, with the amount immediately credited upon release.
The new system ensures that pension payments will be disbursed across the country without the need for transferring Pension Payment Orders (PPOs) from one regional office to another, even if the pensioner relocates or changes their bank. This feature will be particularly beneficial for pensioners who move to their hometowns after retirement, offering them greater flexibility and convenience.
Pilot Successes And Full-Scale Rollout
The CPPS was first piloted in October 2024 across the Karnal, Jammu, and Srinagar regional offices. During this trial, about Rs 11 crore in pensions were disbursed to more than 49,000 EPS pensioners.
A second pilot was launched in November in 24 regional offices, where pension payments totalling Rs 213 crore were distributed to over 9.3 lakh pensioners.
By December 2024, the full-scale rollout was completed, with Rs 1,570 crore in pension funds disbursed to more than 68 lakh pensioners across 122 EPFO regional offices. The smooth execution of this large-scale implementation marks a significant milestone in EPFO’s efforts to modernize its pension services.
Ministerial Announcement To Modernize EPFO Services
Union Minister Mansukh Mandaviya praised the successful rollout of the CPPS, calling it a historic move that empowers pensioners to access their pension funds easily from any bank, branch, or location in the country.
He emphasized that the new system eliminates the need for physical verification, streamlining the process and reducing the burden on pensioners. “The CPPS is a testament to our commitment to modernize EPFO services and ensure convenience, transparency, and efficiency for our pensioners,” added Mandaviya.
He further highlighted that the initiative aligns with the vision of a tech-enabled and member-centric EPFO, setting a new benchmark in pension service delivery.
Also Read: Rural Poverty Ratio Falls Below 5% In FY24, Marking Historic Milestone: SBI Research
To read more such news, download Bharat Express news apps
