Labour Ministry's Amendment for Restoration of Pension Commutation

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By Bhuvana Anand
1 minute read ● February 28, 2020
Pension Commutation

EPFO in its circular no. GSR 132 dated 20.02.2020 has amended Employees' Pension Scheme, 1995 wherein the normal pension in respect of those members who availed the benefit of commutation on or before 25.09.2008 shall be restored after completion of 15 years from the date of such commutation.

Pension commutation is the process when a subscriber partially withdraws fund in advance, then gets reduced pension amount for 15 years. With the ministry's latest decision, 6,30,000 pensioners would be benefited and would receive their full pension after completion of 15 years.

To read the notification, click here.

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