Launch of Centralised Pension Payments System Across All EPFO Offices in India

New Delhi, Jan 4 (NationPress) The EPFO has achieved a significant milestone by implementing the Centralised Pension Payments System (CPPS) across all its disbursing offices, as stated by the Ministry for Labour and Employment. Around Rs 1,570 crore has been disbursed as pension to over 68 lakh pensioners associated with all 122 pension disbursing regional offices of EPFO for December 2024, according to the Ministry.

The CPPS represents a substantial transition from the current decentralised pension disbursement method, where each Zonal/Regional Office of EPFO has distinct agreements with a limited number of banks (typically 3-4). With the new CPPS, pensioners can receive their pensions from any bank, and there will be no requirement for them to visit the bank for verification at the start of their pension; funds will be credited immediately upon release.

Beginning January 2025, the CPPS will streamline pension disbursement across India without necessitating the transfer of Pension Payment Orders (PPO) even if pensioners relocate or switch banks or branches. This development is particularly beneficial for retirees returning to their hometowns.

In a statement regarding this successful rollout, Union Minister Dr Mansukh Mandaviya remarked: "The comprehensive implementation of the Centralised Pension Payments System across all Regional Offices of EPFO is a historic achievement. This innovative initiative allows pensioners to access their pensions easily from any bank, any branch, anywhere in the nation. It removes the need for in-person verification visits and streamlines the pension disbursement process."

“The CPPS reflects our dedication to modernising EPFO services and providing convenience, transparency, and efficiency to our pensioners. With this launch, we are establishing a new standard in pension service delivery, aligning with the vision of a tech-enabled and member-focused EPFO,” he further added.

The initial pilot of the CPPS was successfully conducted in October 2024 across the Karnal, Jammu, and Srinagar Regional Offices, disbursing approximately Rs 11 crore to over 49,000 EPS Pensioners. The subsequent pilot took place in November 2024 across 24 Regional Offices, during which about Rs 213 crore was distributed to more than 9.3 lakh pensioners.