In a major move to strengthen pension services under the Employees' Pension Scheme 1995 (EPS-1995), EPFO successfully implemented the Centralized Pension Payment System (CPPS) across all 122 regional offices in India by December 2024. Over 68 lakh pensioners received more than ₹1570 crore in pension payments for December 2024.
The first pilot of CPPS was successfully completed in October 2024 at the Karnal, Jammu, and Srinagar regional offices, where over 49,000 pensioners received approximately ₹11 crore in pension payments. The second pilot was conducted in November 2024 across 24 regional offices, disbursing approximately ₹213 crore to over 9.3 lakh pensioners.
Union Minister Dr. Mansukh Mandaviya stated, "The full-scale implementation of the Centralized Pension Payment System (CPPS) across all regional offices of EPFO is a historic achievement. This transformative initiative enables pensioners to access their pensions from any bank and any branch across the country. There will no longer be a need for physical verification when pension payments begin. By simplifying, enhancing transparency, and improving efficiency, this system sets a new benchmark in pension service delivery.
Pensioners Can Receive Payments from Any Bank or Branch:
CPPS is a significant improvement over the existing decentralized pension distribution system. Previously, each regional office had to establish separate agreements with only 3-4 banks. Now, under CPPS, pensioners have the flexibility to receive their pension from any bank or branch, with immediate credit to their accounts as soon as the pension is released.
Simplified Process for Pensioners Starting January 2025:
Starting in January 2025, CPPS will ensure that pensioners no longer need to transfer their Pension Payment Order (PPO) when changing their residence or bank/branch. This will be a significant relief for pensioners who return to their hometowns after retirement. This initiative represents a technological and member-centric approach to pension distribution, modernizing EPFO services and making them more user-friendly.
