New Delhi, Oct 21(HS): The EPFO (Employees Provident Fund Organization) is preparing to change a major rule related to pension.
According to reports, the age limit for pension can be increased from 58 years to 60 years. In the present time, even after working at different places, your service history becomes 10 years, then you become entitled to pension and at the age of 58 years we get money as a monthly pension.
The EPF Act 1952 is all ready for a change. The big reason for changing this is being told about the age fixed around the world. In most pension funds of the world, the age of pension has been fixed at 65 years, that is why it is ready to change.
This can be considered in the meeting of EPFO Central Board Trust next month. With this decision, the pension fund will get relief of Rs 30 thousand crores. Also, the retirement age of employed people can also increase by 2 years.
