hi. Recently our company (a maharatna PSU) has asked to provide consent for EPS-95 enhanced pension scheme. i am in the service for 15 yrs now with a PF accumulation of around 45 lacs. If consent is provided, a lumpsum amount of around 16 lacs will be deducted from my PF and deposited to EPFO account. Also instead of a 12% company contribution , i will be getting a PF company contribution of 3.67% (basic+DA) . I am due to retire in 2043 and pension will be starting from 2041 (at 58 yrs age). Pension amount if proposed to be 50% of last 5 yr monthly avg salary and wife will be getting 50% of that after my death. Considering all this is it advisable to opt for the enhanced pension scheme now or instead take the corpus as PF on retirement. May kindly advise

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: EPF

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: For all those retiring after 1st September 2014, it is better to continue with existing scheme.