Will Epfo Pension Increase This Month?: A Ultimate Guide

Will Epfo Pension Increase This Month

Will Epfo Pension Increase This Month – As per our reader’s demand and comments, we are publishing this article. If you want to know about the Will Epfo Pension Increase This Month, continue reading and learn more.

Will Epfo Pension Increase This Month?

No, the EPFO pension will not increase this month. The EPFO’s pension is reviewed and revised every five years. The last revision was in 2019, and the next revision is due in 2024.

Will Epfo Pension Increase This Month

However, the EPFO has increased the interest rate on EPF deposits for the financial year 2023-2024. The interest rate has been raised to 8.15%, which is a marginal increase over the previous year’s rate of 8.1%. This increase will benefit all EPF subscribers, including those who are eligible for a pension.

The EPFO also offers a voluntary pension scheme called EPS-Lite. Under this scheme, employees can contribute an additional 1.16% of their salary to their EPF account, which will be used to calculate their pension. The minimum pension under EPS-Lite is Rs. 1000 per month.

If you are an EPF subscriber, you can check your pension details online by logging into your EPFO account. You can also contact your EPFO office for more information.

Also Read: EPFO Online Claim Status Check Online 2023: A Step By Step Guide

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