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Centralized Pension Payments System fully rolled out
The Business Guardian
|January 05, 2025
In a move towards enhancing pension services, EPFO completed the full-scale rollout of the new Centralized Pension Payments System (CPPS) under the Employees' Pension Scheme 1995 in December 2024.
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About Rs 1,570 crore pension was disbursed to more than 68 lakh pensioners pertaining to all 122 pension disbursing regional offices of EPFO for December 2024.
The first pilot of the Centralized Pension Payment System (CPPS) was successfully completed in October 2024 in Karnal, Jammu and Srinagar Regional Offices with the pension disbursement of about Rs 11 crore to more than 49,000 EPS Pensioners.
The second pilot was taken up in November 2024 in 24 Regional Offices in which around Rs. 213 crores pension was disbursed to more than 9.3 lakh pensioners.
This story is from the January 05, 2025 edition of The Business Guardian.
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