EPFO raises pension age to 60
Q. Retirement fund body, Employees' Provident Fund Organisation's trustees have decided to raise the age limit from 58 to ___ years for vesting of pension.- Published on 28 Mar 15a. 60
b. 59
c. 61
d. 57
ANSWER: 60
At present, a formal sector worker covered under the EPS-95 can make contributions towards pension scheme till the age of 58 years and can claim pension thereafter. After the amendment to the pension scheme, a formal sector worker can choose to contribute towards it till 60 years of age. This will provide him a benefit of 4 per cent enhanced pension per year.
