Confused about EPS95 Pension Eligibility: Employer Didn't Contribute Above Wage Ceiling

Ans: You should go ahead based on your need for monthly income. Typically, the EPFO interest rates are higher than the normal rates of interest.

Ans: Dear Ravindra Pateria,

I understand your concern and the urgency you feel regarding the approval of your enhanced pension under EPS 95 by EPFO. It's frustrating when bureaucratic processes become hurdles in securing what's rightfully yours.

Given that you've already taken steps by lodging grievances and reaching out to both EPFO and the liquidator, it might be helpful to escalate the issue further. You could consider writing a formal letter to EPFO, highlighting the urgency and attaching all the necessary documents as proof of your service with the closed organization.

Additionally, you might want to consult with a legal advisor or approach a local EPFO office directly. They might be able to provide guidance on the specific provisions and rules that govern such cases and suggest alternative ways to expedite the approval process.

Remember, persistence often pays off in such situations. Keep all your communications documented and follow up regularly. Wishing you the best in resolving this issue promptly.

Ans: No, once you opt for the EPF pension, you cannot change or increase the pension amount. The pension calculation is based on the service years and average salary during the last 60 months of service. The interest is not applicable in the same way as on EPF contributions. The amount you receive is fixed and determined by the EPFO guidelines.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in