What is EPFO’s new deadline to avail higher pension scheme

Explain the extension of the deadline till July 11 for applying for higher pension scheme by EPFO.
The Employees' Provident Fund Organization (EPFO) has extended its deadline to apply for the higher pension scheme till July 11, 2021. Here are some key points about the extension of the deadline:
  • The higher pension scheme is also called the Employees’ Pension Scheme-95 (EPS-95).
  • The scheme allows the members to contribute for an additional five years and avail of a higher pension rate.
  • Earlier, the deadline for the same was June 30, 2021.
  • The decision to extend the deadline was taken due to the widespread pandemic and the difficulties it has caused.
  • Members who have completed ten years of service and meet the eligibility criteria can apply for the scheme.
  • Under the scheme, members who have retired can get a pension up to Rs. 7,500 per month, whereas the previous pension limit was Rs. 3,000 per month.
This extension of the deadline will provide members with more time to apply for the scheme and take advantage of its benefits.
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