Revolutionizing Pension Disbursement with the Centralized Pension Payments System

Minister of Labour & Employment Mansukh Mandaviya announced the completion of the pilot run of the Centralized Pension Payments System, a major reform under the Employees’ Pension Scheme 1995. This system allows seamless pension disbursement across India, modernizing and improving services for pensioners.

The Labour & Employment Minister, Mansukh Mandaviya, declared the successful completion of the Centralized Pension Payments System (CPPS) pilot. This initiative marks a significant shift from the traditional decentralized pension disbursement handled by individual EPFO offices.

The CPPS allows pensioners to receive funds without needing bank verification visits, ensuring instant credit. On October 29-30, the pilot processed Rs 11 crore for over 49,000 pensioners across Jammu, Srinagar, and Karnal.

This overhaul will be fully integrated by January 2025, impacting more than 78 lakh pensioners and eliminating the hassle of transferring Pension Payment Orders (PPO) when pensioners relocate or switch banks.

(With inputs from agencies.)