The central government has given a big relief to pensioners, now they can withdraw their money from any bank

The central government has given a big relief to pensioners. Now pensioners living in any part of the country will not have to wander much for pension. Labor Minister Mansukh Mandaviya said on Wednesday that pensioners covered under the pension scheme of the Employees’ Provident Fund Organization (EPFO) will be able to get pension from any bank or its branch from January.

Can get pension from any bank
The Labor Ministry said in a statement that Mandaviya has approved the proposal for a centralized pension payment system for the Employees’ Pension Scheme 1995. He is also the chairperson of the Central Board of Trustees, the apex decision-making body of EPFO. According to the statement, the centralized pension payment system will allow the distribution of pension through any bank or any branch across the country.

More than 78 lakh pensioners will benefit
The minister said that with the approval of CPPS, pensioners will be able to get their pension from any bank, any branch anywhere in the country. This initiative solves the long-standing problems of pensioners. The centralized pension payment system is expected to benefit more than 78 lakh EPS-95 pensioners of EPFO. This will be a big relief for those pensioners who move to their hometown after retirement.