EPFO Higher Pension Scheme: Deadline Extended, Check Steps To Apply Without Delay

In a major relief, the deadline to select a higher pension has been extended by the Employees' Provident Fund Organization (EPFO) on Monday to May 3. Workers who stated working before September 1, 2014 and have been working on or after that date but could not activate their joint option under the Employees' Pension Plan can do so before May 3, 2023. Check necessary information pertaining to EPFO Higher Pension Scheme including highlights, benefits, and eligibility, among others:

Who Is Eligible: Employees who were EPS members on September 1, 2014 and remained EPFO members on or after September 1, 2014, will remain eligible to apply for a higher pension. The option will be available to those who missed the earlier deadline.

• Members of Employees' Provident Fund Organisation or EPFO remain eligible for a pension after retirement.
• You should be a member of Employees' Pension Plan or EPS for at least 10 years and should be 50 or 58 years old to qualify for a higher pension.

It is worth noting that EPFO shut the options for retired EPS members on March 4, 2023. (before 1/09/2014 and whose options could not be considered earlier). It obtained 91,258 online applications from this category of candidates till March 4. The EPFO brought to the notice of members about the deadline extension on the EPFO's Member e-SEWA portal. Individuals will be eligible to apply for a higher pension online via the EPFO unified member portal.

Benefits of EPFO Higher Pension Scheme: The crucial benefits of EPFO Higher Pension Scheme include the following:

• If you have a higher pension, you can get a large monthly amount during retirement.
• It can be highly beneficial in case you have no other source of income.
• Your pension amount remains fixed and does not get impacted by market movements as it is based on your years of services and average wage.

Steps to apply for a higher pension on the EPF portal:

• Visit EPFO Unified Member portal
• Choose "pension on higher salary: Exercise of joint option on or before May 3, 2023"
• Go to "application form for joint options" section
• Fill your Universal Account Number (UAN), name, date of birth, Aadhaar-linked mobile number, Aadhaar number, and captcha code.
• Choose "Get OTP". You will receive an OTP to the Aadhaar-enabled mobile number.
• Enter the OTP
• Click submit button

After submitting application form, you will receive an acknowledgement number. As per the EPFO notification, each application shall be registered, digitally logged, and the applicant will be given a receipt number. The office in charge of the regional provident fund office concerned will scrutinize each case of joint option on higher salary and inform the applicant through e-mail/post and, later, SMS.