Retirement fund body, Employees' Provident Fund Organisation (EPFO), will consider and approve a proposal for setting up a central pension disbursal system in its meeting on July 29 and 30, paving the way for crediting the benefit into over 73 lakh pensioners' bank accounts in one go across India.
Presently, over 138 regional offices of the EPFO disburse pensions to beneficiaries in their region separately. Thus, the pensioners of different regional offices are getting pensions at different times.
"A proposal for setting up a central pension disbursal system will be placed in the EPFO's apex decision making body, Central Board of Trustees (CBT), in a meeting scheduled on July 29 and 30," a source told PTI.
