EPFO Higher Pension Update: 42% Applications Rejected – What’s Next?
EPFO Higher Pension Update :
In a recent update, the Employees’ Provident Fund Organization (EPFO) has rejected 42% of the applications regarding the Higher Pension Scheme, a scheme introduced after the Supreme Court’s judgment in March 2022.
The higher pension option, available for EPF members who contributed to provident fund schemes under the Employees’ Pension Scheme (EPS), has been a major financial relief for many retirees. However, the implementation process has not been as smooth as expected, with millions of applications pending or rejected.
Who Faces Rejection and Why?
The rejected applications belong primarily to those members who failed to meet the eligibility criteria or provided incomplete information. According to EPFO reports, 7.35 lakh applications have been rejected out of 17.49 lakh received. These applications were deemed ineligible for the scheme, either due to incorrect details or failure to meet the required qualifications.
The rejection of such a significant portion of applications has caused concern among EPFO members who had hoped for a higher pension post-retirement. Despite these setbacks, the EPFO is still reviewing a substantial number of applications, and many individuals are anxiously waiting for updates.
Status of Pending Applications
Approximately 2.13 lakh applications are still under review by the EPFO. Furthermore, employers have submitted 2.24 lakh applications, which are also under processing. Around 4 lakh applications were returned to employers due to deficiencies, and 2.18 lakh demand letters for additional contributions have been issued.
This backlog of pending applications and the ongoing review process suggest that it could take more time before all eligible members receive their revised pensions.
Why is the Process Delayed?
The delay in the implementation of the Higher Pension Scheme can be attributed to several factors. The scheme’s implementation involves a complex verification process to ensure that only those meeting the necessary conditions benefit. This includes reviewing the applicants’ contributions, checking the correctness of documents submitted, and verifying whether they qualify for the pension increase based on salary history.
Additionally, the technicalities and intricacies involved in revising pensions for a large number of employees have caused delays. Many members, who believed they would immediately benefit from the Supreme Court ruling, now face prolonged waiting periods.
What’s Next for EPFO Members?
As the process continues, EPFO members are advised to stay informed about the status of their applications. Those whose applications have been rejected may be able to resubmit with corrected information or appeal against the decision if they feel it was unjust. The EPFO has assured that the higher pension payments will be processed, and the scheme will be fully implemented by the end of March 2025.
Conclusion
The EPFO Higher Pension Scheme aims to provide better financial security to retirees, but the delays in processing applications and the rejection of a significant number of claims have left many members in uncertainty. EPFO members are encouraged to follow up on their applications and ensure that they meet all the necessary criteria for approval.
While the scheme promises to offer better pension benefits, the ongoing challenges highlight the need for a more streamlined and transparent process. With the scheme expected to be fully implemented by March 2025, members should remain hopeful for timely resolutions to their concerns.
For further updates, EPFO members are encouraged to regularly check the official EPFO website or consult their respective employers.