Who is eligible for EPS monthly pension?

To receive a monthly pension under EPS, you must:Complete 10 years of service under EPS-covered jobs. Reach the age of 58 years (early pension allowed from 50 with a reduction). Have joined EPS before Sep 1, 2014, or had a starting salary ≤ ₹15,000 if joined later. Have not withdrawn your EPS amount (via Form 10C).

How does early pension under EPS reduce benefits?

If you start your EPS pension between age 50 and 58, your pension is reduced by 4% for each year before 58.For example, starting at 50 years means a 32% lower pension for life.You must have completed 10 years of service to opt for early pension.

What is the Maximum Pensionable Salary under EPS?

Pension is calculated on the average salary of the last 60 months, but capped at ₹15,000, even if your actual salary is higher.Opting for pension on higher salary was allowed earlier but is no longer available after September 1, 2014.

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