EPFO completes roll-out of Centralised Pension Payments System; 68 lakh pensioners benefitted across India
New Delhi: The Employees’ Provident Fund Organisation (EPFO) has fully implemented the Centralised Pension Payments System (CPPS) to facilitate pensions under the Employees’ Pension Scheme (EPS).
For December 2024, pensions amounting to Rs 1,570 crore were disbursed to over 68 lakh pensioners across 122 pension-disbursing regional offices, the Union Labour Ministry announced in a release on Friday.
The CPPS pilot was initially conducted in October 2024 at the Karnal, Jammu, and Srinagar regional offices, followed by a second pilot in November 2024 at 24 regional offices.
Announcing the nationwide rollout, Union Labour Minister Mansukh Mandaviya described it as a historic achievement.
“This transformative initiative empowers pensioners to access their pension seamlessly from any bank, any branch, anywhere in the country. It eliminates the need for physical verification visits and simplifies the pension disbursement process. CPPS is a testament to our commitment to modernising EPFO services and ensuring convenience, transparency, and efficiency for our pensioners,” Mandaviya stated.
The EPFO underscored that the CPPS represents a major shift from the existing decentralised pension disbursement system, where zonal or regional offices maintained individual agreements with only three to four banks.
The Ministry noted, “In CPPS, not only will the pensioner be able to take pension from any bank, but also, there will be no need for pensioners to visit the bank for any verification at the time of commencement of pension, and the pension shall be immediately credited upon release.”
Additionally, the CPPS will enable uninterrupted pension disbursement without requiring the transfer of Pension Payment Orders, even if a pensioner relocates or changes their bank or branch.
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