Higher pension | Eligible EPFO members can apply till May 3

The URL on the EPFO unified members' portal activated recently shows clearly that the last date for availing the option of higher pension is May 3, 2023.

All eligible members can opt and apply jointly with their employers for higher pension till May 3, 2023 at unified members' portal of retirement fund body EPFO. Earlier, there were apprehensions that March 3, 2023 is the last date for opting for higher pension.

The URL on the EPFO unified members' portal activated recently shows clearly that the last date for availing the option of higher pension is May 3, 2023.

Explained | The Supreme Court order on PF pensions

Earlier, the Supreme Court in its Order on November 4, 2022 had mandated the Employees' Provident Fund Organisation (EPFO) to provide four months to all eligible members to opt for higher pension.

The four-month period for opting for higher pension was to end on March 3, 2023 in view of apex court order. Thus, there were apprehensions among members that the deadline will end on March 3, 2023.

Last week, EPFO came out with a procedure to enable subscribers and their employers to jointly apply for higher pension under Employees' Pension Scheme (EPS).

In November 2022, the Supreme Court had upheld Employees' Pension (Amendment) Scheme 2014. The EPS amendment of August 22, 2014 had raised the pensionable salary cap to ₹15,000 a month from ₹6,500 a month, and allowed members along with their employers to contribute 8.33% of their actual salaries (if it exceeded the cap) towards EPS.