Union Labour Minister Mansukh Mandaviya on Thursday said that the Employees Provident Fund Organisation (EPFO) will launch its new software system EPFO 3.0 by June this year to be followed by distribution of ATM cards to its subscribers. “The new system will be equivalent to the banking systems in the country and the website will be more user-friendly. About Rs. 1570 Crore pension was disbursed to more than 68 Lakh pensioners pertaining to all 122 pension disbursing Regional offices of EPFO for December 2024,” said Mandaviya in a statement here.
He said that the first pilot of the Centralized Pension Payment System (CPPS) was successfully completed last October in Karnal, Jammu and Srinagar Regional Offices with the pension disbursement of about Rs 11 Crore to more than 49,000 EPS Pensioners. The second pilot was taken up last November in 24 Regional Offices in which around Rs. 213 crores pension was disbursed to more than 9.3 lakh pensioners.
The full scale implementation of the CPPS across all Regional Offices of EPFO empowers pensioners to access their pension seamlessly from any bank, any branch, anywhere in the country.
