From January, EPFO Pension Can Be Accessed Anywhere in the Country

From January, EPFO Pension Can Be Accessed Anywhere in the Country
The pilot phase of the new centralized pension disbursement system has been successful. Union Minister for Labour and Employment Dr Mansukh Mandaviya stated that pensioners across the country would be able to benefit from the new system starting in January.
Mandaviya announced that on October 29 and 30, more than 49,000 pensioners in Jammu, Srinagar, and Karnal were paid approximately ₹11 crore under this new system. Pensioners will no longer need to visit the bank for verification; pensions will be directly credited to their accounts once they are confirmed.
In the pilot phase, pensioners received their pensions only through designated banks under the system. They had to visit a particular branch for their pensions. However, with the new system, pensioners can withdraw their pensions from any branch of any bank in the country.
The new system, part of a broader modernization initiative, will be implemented by January 2025, benefiting over 7.8 million pensioners associated with EPFO.